Case study | Events : Gather&Gold

Gather&Gold’s giant Nordic tipis create a magical atmosphere for any event. What the owners really needed to conjure out of a hat however, was a clear picture of how much money they were actually making.

When Gather&Gold founders Sarah and Chris Fecher came to Balanced they were under no illusion that they needed support with their business financials. With cash deposits being paid well in advance of the weddings, parties and corporate functions their stunning tipis had been booked for, it was difficult to see what their true earnings were.

“These guys are so much more than accountants, they are what every business needs. We’re so grateful we found them when we did. We knew our business was doing well but had very little grasp on the financial side of things. We knew this wasn’t our strength but realised it was more important than anything to get on top of it and have someone we could trust onboard as part of our team. Balanced did just that, so we can now focus on the things we love – selling and delivering tipi events – knowing that the Balanced team have us covered in the background. It’s also made growing our business so much easier as we know exactly what’s coming and going. Our business doubled in sized in two years and we have Balanced to thank for making sure we made the right calls at the right time to grow and meet market demands.”

Sarah & Chris Fecher,

Owners,
Gather&Gold

To provide the Fechers with a true picture of their true earnings, first we reviewed their financials, moved them away from cash accounting and began a journey of commercial education for this business-savvy pair, explaining their results in plain English. We then worked closely with them to calculate margin by product, which led to pricing adjustments to drive better business outcomes.

Chris and Sarah now have confidence that the business they have invested their life-savings into – along with their hearts and souls – will be a success. They don’t have to worry about the finances – that’s our job. We keep them abreast of the numbers so they know what they have to do to hit their financial goals.

We provide the following services to Gather&Gold:

Commercial Strategy

Budgeting

Tax Compliance

Systems Enhancements

Pricing & Margin Strategy

Forecasting

Cashflow Management

Profitability Analysis

Monthly Reporting

Cost Management

To find out more about our services and how we can support
your business, see our services page or contact us.

The full story...

Cash deposits in advance are commonplace in the event industry. Without a little financial wizardry, it can be difficult to summon up a clear picture of profitability. Gather&Gold’s accounts were based on when the money was received, not when the event occurred, so how much they were earning wasn’t easy to see.

Balanced worked closely with the owners and started tracking all the events, the amounts paid and when amounts were due. We corrected their accounts and enabled them to see the full financial picture.

In Balanced, Gather&Gold has a partner who will always have them front of mind.

“We see ourselves as part of the G&G team. We work hard to understand not just the business, but the people too, and help them reach their personal, financial and lifestyle goals.”