When a business is ready to expand its services or extend its reach with new locations, the weight of strategic planning can be heavy. And for business operators who may have limited experience or bandwidth to handle such challenges, the weight demands a “team lift” approach.
Prudent strategies and operational decisions are made based on conclusions drawn from sound data. For business owners, that means analyzing their prospective markets as well as their own financial performance. For this Advantage Insights client, the Progressive Growth financial management package has proven effective, providing financial insights and practical, time-saving assistance.
The Ace Handyman Services franchise in Omaha, Nebraska is owned and operated by Turner Schenzel. Turner works with a team of Craftsmen and a dedicated Office Manager to offer fast, friendly, and professional handyman services to the community. Prior to owning the franchise, Turner had worked for a construction software company and spent years as his church’s Youth Director.
Throughout his career and work in the church, Turner found joy in helping people in real, practical ways. He also discovered a desire to operate a business of his own. His entrepreneurial aspirations met with a unique opportunity when a handyman franchise was looking to expand into Omaha. Turner was intrigued by the idea of providing useful repair, refresh, and remodeling services to the community. These were services that would remain in demand, providing work that would align with Turner’s passion for helping people.
Turner signed on to own and operate a handyman franchise under the “Handyman Matters” brand, which would later become “Ace Handyman Services”. Ace’s brand emphasizes helpfulness and professionalism, matching Turner’s own values.
Starting out in 2019, Turner had to keep a lot of plates spinning. When it came to personnel, he handled recruiting, interviewing, hiring, training, and evaluations. Operational and financial management responsibilities such as bookkeeping, payroll, marketing, budgeting, and day-to-day management duties fell on his shoulders as well.
Even with all these obligations, Turner grew his team of Craftsmen, identifying truly skilled and helpful individuals. Thanks to excellent brand awareness, remarkable service, and stellar customer reviews, the franchise has become a success.
However, Turner planned to expand the franchise with two additional locations. This meant he would no longer be able handle so many responsibilities on his own. He would also need more time to focus on strategy, planning, and financial concerns.
Turner launched a second Ace Handyman location in March of 2022. He planned to launch a third location in Des Moines and knew he would need more help. He wisely targeted areas of responsibility that demanded the most time from him, and those where he lacked expertise. The first item on that list? Financial management.
After discussing his business challenges with a friend, Turner was introduced to Mary Ferry of Advantage Insights. Together, they spoke about the business, Turner’s current operational challenges and the help he needed in order to expand the business further. He shared his hopes for the future of his business and they discussed how he could optimize his own time in the franchise for success and personal fulfillment.
Mary responded to Turner’s concerns and questions with specific remedies in the form of financial management services. She explained how Advantage Insights could create a custom suite of services that directly addressed Turner’s challenges.
“If I don’t have to worry about the budgets, financials, profit & loss statements–that’s a weight lifted off my shoulders, allowing me to focus on in-house operations and our people.”
-Turner Schenzel
After their initial meeting, Turner knew Advantage Insights was the right fit. Mary had the experience and knowledge to back up her services. Whereas, according to Turner, “My knowledge tops at the bottom line of the P&L.”
He knew the time he spent on bookkeeping tasks was not the most productive. In addition, he wanted to have a greater level of confidence in his financial performance metrics.
“I want to know I’m not missing any red flags or potentially hurting our business. Mary can catch the yellow flags before they become red flags.”
-Turner Schenzel
Turner’s capacity to plan and budget for growth depends on his ability to track and understand the financial metrics that reveal his business’ performance. Not only would accounting and financial management services from Advantage Insights save him time, they would also deliver more thorough insights with which he could make prudent decisions about his business.
Since partnering with Advantage Insights earlier this year, Turner’s Ace Handyman Services franchise has all its bookkeeping taken care of. They meet monthly to discuss the profit and loss statement, cash flow, and balance sheet. Mary helps diagnose areas for improvement, recognize healthy trends, and address any urgent matters that arise.
“There’s accountability in the process, which is super helpful for me. Mary takes every opportunity to educate and coach me to help me really understand our performance.”
-Turner Schenzel
In these monthly meetings, Turner gets to place strategic focus on the future of his company in a way he couldn’t before working with Advantage Insights. According to Turner, there was quite a bit of work that needed to be done to “clean up” their financial records and normalize their reporting processes. A firm foundation of historical data was necessary to plan for the future.
The Progressive Growth service package Turner receives has transformed his ability to make budgeting and strategic decisions.
“Advantage Insights brings confidence to these decisions. With Mary in my corner, I can be sure I’m making the right moves for the future of my company.”
-Turner Schenzel
Throughout this process, Turner has learned a lot about his business. For one, there are just some areas of the business that specialists can really help you. Accounting and financial management require an exceptional level of expertise and time to do well. Turner says business operators should focus on their individual strengths and the well-being of their people. Advantage Insights has helped him do that.
Financial management is all about respecting the responsibility you have as a business owner, allowing you to better serve your customers and staff. And with the time you save, you can improve your own quality of life and make the most out of the time you put into your business.
The Advantage Insights team does what they do best (financial management and analysis) so you can do what you do best, whatever that may be. We offer a variety of essential and targeted services to help you…
If you have operational, growth-related, or financial management challenges, contact us today. We offer a free consultation to help you better understand your business challenges.