- Clear, friendly and professional direction was required to clarify and simplify complicated business accounting practices
- Supported and guided financial restructure was implemented to meet the needs of a growing business
- Reviews of current business and personal financial strategies were conducted to ensure the best individual solutions were in place, resulting in a saving of both time and money
- Proactive planning for the future, both business and personal, to give the couple complete control over their retirement planning
- Professional and friendly service, with fast, accurate responses to any question – big or small
For the past 10 years, Jill and Brett Robinson have owned and operated a Roadside Assistance company, primarily focused on accident towing. From humble beginnings where they operated a workshop, insurance office and roadside service from a single location, the business has grown to cover additional sites state-wide and expanded their service capacity. In 2018, with the help of BLG, they doubled the size of their operations and staff – and they couldn’t be more excited about the future.
“Our business has been spread over the state geographically. Our aim is to grow in the Mid-North Coast region, creating an efficient and sustainable business,” said Jill and Brett. “[Our goal is to] keep our core business as road service and diversify into areas closely related, such as towing, to future-proof ourselves.”
From reactive to proactive – taking the leap into a clearer, simplified business structure
As the business continued to enjoy growth and expansion, Jill and Brett were able to drop services that no longer fit and instead focus on developing their roadside service model and open additional sites. Unfortunately, during this growth period they ended up running two separate companies and their accounting became increasingly complicated. Although they both had their concerns over changing the way the business operated, they agreed it was time to look at their options.
“We wanted to combine our companies into one structure that would grow with us into the future and we wanted to start planning for a financially secure future,” said Jill and Brett.
“Our business associate and good friend Pete had been telling us about BLG for quite some time. He was concerned that we didn’t have a clear financial vision and encouraged us to explore our structure options.”
From the very first meeting with BLG Business Advisers, the couple knew they were on the right track. “We met with Scott Brodie (Director) and by the end of our first meeting we were converted. His energy and passion were contagious, and we couldn’t wait to move over.”
Their aim was to simplify and combine, and very quickly they had the solution they had been searching for. Not only did BLG devise a workable plan to help Jill and Brett achieve new direction and a more effective, simplified plan for future growth, but supported the business through the transition period of their restructure, for which Jill was very grateful.
“Having started new company files previously, it was not a task that I looked forward to and probably why I was reluctant to look at changing previously," said Jill. "The team at BLG, as promised, did all the heavy lifting when it came time to initialise the Trust. One of BLG’s Managers, Luke Bland, took care of all the registration and was available around the clock as I set up my new files, with great time-saving tips as well as step-by-step instructions as needed.”
Completing the process – reviewing personal financial goals and safeguarding for the future
Once the business restructure had been completed, Jill and Brett had BLG look at other areas of their financial situation that were due for review. One of the biggest tasks was setting up a self-managed superannuation fund (SMSF) to give Jill and Brett control over their retirement nest egg. Having just completed the business financial overhaul, BLG were able to effectively tie in any new personal financial programs to the business, creating a win-win situation for the couple.
Life insurance was also on Jill and Brett’s hit list, as was a revisit to their Last Will and Testament. BLG were able to put the couple in touch with brokers and solicitors to assist with these reviews, which ultimately saved them time and money.
Benefits and Results
- Implementation of effective, simplified future planning and a business restructure to ensure continued business growth and success.
- Ongoing support in maintaining quality, easy-to-use strategies to keep their accounting on track.
- Setting up a SMSF to give the couple more control over their retirement planning and support the business in the process.
- Review of important personal financial considerations, including life insurance and Last Will and Testament.
Moving forward, Jill and Brett know they have the team at BLG on their side; “We are coming up to four years with BLG. We have stayed and are staying for the foreseeable future as I get the support I need day to day, quarter to quarter and year to year," says Jill. "Hand over your information and sit down with them, then if you like what you see, move. They will follow through.”