{"id":4696,"date":"2024-10-29T01:20:26","date_gmt":"2024-10-29T01:20:26","guid":{"rendered":"https:\/\/poshcorporate.com\/?p=4696"},"modified":"2026-01-16T06:20:50","modified_gmt":"2026-01-16T06:20:50","slug":"professional-accounting-helped-a-traditional-fb-business-achieve-20-more-profits","status":"publish","type":"post","link":"https:\/\/posh.kaizenovaa.com\/cn\/professional-accounting-helped-a-traditional-fb-business-achieve-20-more-profits\/","title":{"rendered":"Professional accounting helped a traditional F&B business achieve 20% more profits"},"content":{"rendered":"
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It all started with a Facebook message in December 2023 from the second-generation owner of a traditional prawn mee business.<\/p>\n\n

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Extract of the Facebook message from the <\/em>owner<\/span>!<\/p>\n\n

From our conversations with the owner, we find that he is a forward-thinking entrepreneur and was well aware of the upcoming regulatory changes, particularly the implementation of e-invoicing, and wanted to ensure his business was financially prepared.<\/p>\n\n

At the time, the business’s accounting was handled by a freelance bookkeeper once a year, mainly for tax reporting. However, the owner recognized the need for a more structured and regular accounting system to gain better insights into the business. He wanted to streamline his business\u2019s operations, explore opportunities for renovations, potential expansions, and even consider hiring additional staff.<\/p>\n\n

Our Approach<\/strong><\/h2>\n\n

After engaging with him, we began by reviewing the business\u2019s financials. Our first report provided a clear overview of recent trends, confirming the owner\u2019s understanding of his business while offering new insights into the operation. We conducted a comprehensive financial analysis, focusing on key areas like cost of goods sold (COGS), salary expenses, and overheads.<\/p>\n\n

To simplify things and make sure the owner understand better, we broke down the sales numbers into an RM10 example, showing how much of it went towards food ingredients, beverages, labor, rent, and other expenses, with the remaining portion goes to the owner as the sole proprietor\u2019s profits. This simple illustration gave him a clearer picture of the business\u2019s financial health.<\/p>\n\n

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In our second update, we compared the COGS metrics against industry standards. We highlighted areas where costs were above industry norms and where the business was performing efficiently, spending less than the standard.<\/p>\n\n

Strategic Changes and Results<\/strong><\/h2>\n\n

To help the owner take advantage of tax benefits and better structure his operations, we assisted in incorporating the business into a Sdn. Bhd. This transition provided a clearer separation between the business and the owner, enabling better financial management and accounting practices.<\/p>\n\n

During the incorporation process, we identified and transferred the sole proprietorship’s assets and liabilities to the new Sdn. Bhd., ensuring business continuity.<\/p>\n\n

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With more structured financial records, in our subsequent updates with the owner, we worked closely together to explore ways to increase profitability. This involved looking into both the revenue and cost structures. A key focus was on increasing either customer numbers or average spending per customer. Through brainstorming and observing successful F&B models, the owner decided to shift from a traditional menu-based system to an ingredient-picking concept, where customers could select their preferred ingredients.<\/p>\n\n

This strategic pivot, combined with clearer financial insights, resulted in a 20-30% profit increase within just a few months. Customers enjoyed the variety and sometimes may spend more by picking more of their favourite ingredients.<\/p>\n\n

Additionally, the owner launched new marketing efforts to target incoming tourists into the state, further boosting the business\u2019s customer base.<\/p>\n\n

Conclusion<\/strong><\/h2>\n\n

Our professional accounting services went beyond the traditional bookkeeping, delivering actionable insights and financial analysis that empowered traditional and new businesses to grow. By having a clearer visibility and view on the numbers and aligning them with the strategic goals, businesses often benefits from improvement in cost structures, streamline operations and ultimately increase profits.<\/p>\n\n

Schedule a meeting with us (click here<\/a>) to know more.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

It all started with a Facebook message in December 2023 from the second-generation owner of a traditional prawn mee business. Extract of the Facebook message from the owner! From our conversations with the owner, we find that he is a forward-thinking entrepreneur and was well aware of the upcoming regulatory changes, particularly the implementation of […]<\/p>","protected":false},"author":4,"featured_media":5911,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-4696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advisory"],"acf":[],"_links":{"self":[{"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/posts\/4696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/comments?post=4696"}],"version-history":[{"count":1,"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/posts\/4696\/revisions"}],"predecessor-version":[{"id":5912,"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/posts\/4696\/revisions\/5912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/media\/5911"}],"wp:attachment":[{"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/media?parent=4696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/categories?post=4696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/posh.kaizenovaa.com\/cn\/wp-json\/wp\/v2\/tags?post=4696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}