As the owners of one of Ballina's long established and most iconic surf shops, Richard and Wendy Beckers wanted to build on their strong reputation to take advantage of emerging technology and more
Initially prompted by a change in business name, Richard and Wendy could see the possibilities of myriad things they could do. The key was to allocating resource and prioritising their time to get through everything they wanted to achieve.
Collins Hume Partner and avid surfer Peter Fowler
has a thorough understanding of Ballina Surf both as their adviser and as a customer, so could see the potential from both sides. One step was to consider how to make the leap from marketing as a bricks and mortar enterprise to embracing the extra leverage available from social media.
Ultimately, the idea was that an enhanced approach to market would strengthen the brand when the business was ready to launch a second shop.
Richard and Wendy are over the moon with Collins Hume's thinking. Social media was a first step, but Ballina Surf's relationship with Collins Hume goes much deeper than that.
"Although seemingly unorthodox for accountants to advise anyone on marketing and especially social media, it is all part of the proactive approach
that Collins Hume takes with our business," says Richard.
"In-the-box accounting advice can actually end up costing business money, and that's why we switched to Collins Hume in the first place!"
"Basically Collins Hume knows what's going on and gets our tax affairs done properly which has saved us money over the years. We don't have huge issues but what we have gets done on time, and gets done properly."
"They ensure that our decisions never jeopardise our business â€" they present all the options and work with us to make informed choices about the best course of action to take."
"With some of the Collins Hume team also being our customers, we have the opportunity to chat in-store which inevitably turns towards what is happening in our business. We appreciate the one-on-one interaction â€" it makes us feel like we have back-up."
The difference is that we have a proper understanding of the trends in the Beckers' business, and make sure they are on the front foot when it comes to the correct tax liability.
As a firm we are delighted to be able to act for Ballina Surf. Proper tax planning occurs not as a hasty financial year-end meeting each 30 June.
Peter Fowler said, "By knowing the intricacies of their business we can plan for the spikes and arrive at each financial year end fully knowing the tax position, having already put in place the best measures."
Intimate understanding of a business and confidence with its tax strategy gives us the opportunity to apply other initiatives â€" in this case it was appropriate to discuss channels to market which has worked wonderfully well for Ballina Surf.
Contact us today on 02 6686 3000 to arrange an obligation-free consultation with our industry specialists to see how we can help you maximise profits, minimise tax, build your wealth and have the lifestyle you've always dreamt of.