Profit Planning with Empire Accountants

Posted 30 Sep '22

Here at Empire Accountants, we are committing to providing comprehensive accounting solutions that bypass traditional accounting services. We believe that knowing your numbers empowers you to grow your business profitably.

As such, we have developed three superior solutions to help you streamline your progress in further developing and growing your thriving business. Our Empire Accountant experts are happy to help you on your journey to success by giving you a clear view of your correct numbers.

Our Profit Planning Solutions were designed to help your business flourish through the power of knowledge. Check out what is provided under each of our additional services, and feel free to review our YouTube Video for further clarification!

Solution #1: Profit Power Meeting

Enjoy an insightful one-on-one meeting with one of our accounting professionals, where you will receive a summarised review of your business’ numbers, including:

Business Numbers We’ll Review:

• Sales
• Cost of Sales
• Overheads
• Labour
• Loans & other payment commitments

During this meeting, we’ll also teach you about the power of margin analysis and develop target margins and key performance indicators (KPIs) for your business. As the core goal of this meeting is to educate you and empower you by helping you understand your numbers, we’ll also set up a custom report in Xero to help you track and monitor going forward.

This way, you can easily measure your actual results against these set target margins. From this meeting, you will leave knowing all about your profit goal and breakeven sales amounts.

Solution #2: Profit Plans

Let’s set your business up for success by developing an annual budget plan, summarised into an easy-to-follow one-page worksheet! Gathering information from your Xero file, we’ll meet with you to review the details of your numbers.

This way, you’ll fully understand the cost of running your business. This product is perfect for businesses that may anticipate upcoming changes, such as adding a new employee or changing locations.

From this meeting, you can expect to know your profit goal and breakeven sales amount. Before you leave, we’ll set up a custom report in Xero to help you measure your actual results against your annualised budget results to help you stay on track.

All our clients who participate in this service will then have the option to transition to our quarterly sounding board meeting. These meetings are formatted to allow us to regularly catch up and check in on your business’s progress.

Solution #3: Profit Picture

Ideal for businesses who are undergoing significant growth and change, this is the Rolls-Royce of profit planning!

Consider this Profit Planning Route if your business is:

• Onboarding new staff
• Establishing a new location
• Entering into a new niche
• Moving entirely to a new location

To start, we will gather information from your Xero file and ask you a variety of questions about your future plans, ideas, goals, and growth strategies. We’ll leverage this information to develop a full project profit and loss report as well as a cash flow report broken down into monthly forecasts.

One of our accounting experts will meet with you to go through each line item in detail and discuss costs, timing, and reality based on your preferred plan. You’ll leave this meeting knowing your profit goal and breakeven sales amounts under a number of scenarios.

Clients who engage in the Profit Picture service will also be given the option to transition to our quarterly accountability meeting, where we will re-evaluat

e, adjust, and reset goals. Our mission through this solution is to provide a detailed and analytical month-by-month approach to elevate your business through planned growth initiatives.

Let’s Chat Today!

If these products make you feel invigorated and excited for the future, reach out to your Empire Accountants Advisor! We’ll be happy to go over your options and set you up with the profit planning product that makes the most sense for you, your business, and your future goals.