An owner of a fence installation company had started to transform his company into a wholesaler and manufacturer of fencing material. However, financial and administrative issues were impeding his plans to elevate the business and the company was lacking growth capital. Their bookkeeper had resigned, and the company books were in disorder.
His banker suggested that he speak with the Florida CFO Group. He was connected with an experienced CFO who recommended he try a one-day-a-week CFO.
During the first nine months, the one-day-a-week CFO:
- Helped the owner assess two acquisition opportunities
- Helped the owner assess bank and private equity financing alternatives
- Helped to secure SBA financing
- Trained a team member to step into a Controller’s role
- Guided the new controller in the clean-up of the company books
- Guided the team through a process to convert from QuickBooks to NetSuite
The company is now better positioned to execute the owner’s vision of establishing a regional wholesale and manufacturing company – guided by an experienced financial leader from the Florida CFO Group.