GPSK – An innovative family online retail business
GPSK, an innovative business, started by two entrepreneurial brothers, has continued to grow, from its inception in 2003 through to its current £15.6 Million turnover last year.
The business; an online retailer for “hard to source” electrical goods, which has seen year on year growth, is a testimony to the dogged determination of the founders, their belief and the very personal sacrifices they had to make to ensure their dreams became reality.
Success lead challenges
These founders knew what they wanted, knew they had the drive to take the business forward, but like so many, they underestimated the time and effort required in areas they were less familiar.
These challenges threatened the profitability and survival of the business, despite an increasing order book.
These challenges included:
- Unplanned expenses continually eating away at profit margins
- Lack of planning creating uncertainty in their decisions process, causing avoidable mistakes to be made
- Administration was being ignored as focus was entirely sales lead, causing a loss of control on the business and stunting growth
Through this period, the founders discovered that obtaining advice and guidance was harder than they expected!
Their accountant was an obvious choice; however, their accountant charged them on an hourly basis for any help and guidance and aside from fulfilling the statutory accountancy practices, was unable to offer real and tangible business advice on both the growth and processes they needed to take GPSK forward.
A positive change and different focus was required!
The GPSK founders were introduced to aa Accountants and quickly realised their proactive approach to business growth, their fixed fee structure and the guarantees they offered was exactly the kind of assistance they needed!
Through a series of structured calls and meetings, all within their agreed fee structure, the founders through following the advice and business practices introduced by aa, quickly regained control of their business and saw both their turnover and more importantly, their profitability rise!
aa determined to deliver:
- Greater focus on the key business drivers, increased control on the business numbers which allowed the founders the freedom to concentrate on growth – which rose by an astonishing 53.26% in two years
- Up to date accounts and business advice, allowing for faster, more credible decisions being made
- Greater tax planning saw a £15,215 saving being made in just one area
- AA’s use of their own business network saw a switch in merchant credit facilities and realised a saving of £32,683 in one step
Ongoing partnership – Ongoing success!
The GPSK success story continues to grow, as does their relationship with aa Accountants.
The founders have seen their profits rise, are working smarter and now have the time to enjoy their success.
To see how we can help you, contact us:
Ring: 01733 555 667