Case Study: Business Start-up Services & Tax & Compliance
From the first stages of acquiring a new business, a mountain-side coffee shop owner leveraged business start-up and planning services to establish successful operating procedures for a streamlined business. By establishing optimal business foundations from the outset, she managed to exceed her targeted first year returns, a remarkable result thanks to a successful first year of operations.
Jules Mitas is a coffee enthusiast who was given the opportunity to transition from employee to owner of Slides Coffee Bar, a Falls Creek coffee shop. Passionate about delivering high quality products and service to her customers, she was confident she could build a successful business in the Victorian alpine resort.
Despite her entrepreneurial confidence, Jules was aware that business administration and finances were not her speciality. She wanted to set the business up for success, right from the beginning.
To do this, she enlisted the expertise of Cumulus’s Director Patrick Rorke. He recognised the need for progressive financial management strategies to streamline business practices. With easy-to-understand language and sound business advice, Pat provided Jules the confidence to establish a strong business foundation from the outset.
“It has been amazing with Pat telling me where I need to pay tax and offset everything. With his support I got my suppliers organised and my payroll singing!”
With a dedicated mentor in Pat, Jules successfully navigated her way through the first year of business, acquiring an ABN and implementing new digital systems for the business. She was set-up on cloud accounting software Xero and data capture tool HubDoc to save time and stress. Additionally, the online software tools allowed her to make informed business decisions based on accurate financial data with no paper trail in sight.
“I think Cumulus systems are excellent. They make it easy for new business owners with their hand holding and support so you can put your own systems in place, which I did successfully by the end of the season.”
Jules’s sleek accounting and improved financial literacy managed to boost Slide’s bottom line, with surprising first year investment returns.
“I have a phenomenal little business which I’ve successfully jumped into thanks to Cumulus and it’s happy days.”
A success story in its own right, Jule’s coffee shop experience reflects how thoughtful financial management strategies and processes in the early stages of business can influence the trajectory of a business’s growth and long-term sustainability.
Jules is looking forward to the next season ahead knowing that Cumulus will continue to be there, providing the support, assistance and guidance she needs to achieve her definition of success.