Large NSW Commercial laundry business turned around by BzMark
Many are aware of BzMark’s business turn-around service which is designed to help companies make positive change and achieve their full potential. BzMark has been working with a large commercial laundry business located in NSW under this program and has achieved a turnaround of this business within a four month time frame.
When this business approached BzMark they were in desperate need of help.
Upon investigation BzMark found that:
- The business was in need of strategic planning and high level management.
- Contracts with clients were in disarray with some arrangements not being profitable for the business.
- Productivity was not monitored or managed.
- The business was behind on payments to a number of suppliers was critical services close to being cut off.
- Behind on payments to the ATO with legal action being threatened.
- Current banking facilities were not structured correctly with large leasing liabilities placing a significant cash flow burden on the business.
Left unchanged this business was very close to liquidation with the owner facing the very real possibility of losing everything.
Since being appointed BzMark has:
- Adopted the much needed higher management function and laid down an effective action plan to save the business.
- Evaluated the company’s financial position providing a clear understanding of the businesses current position.
- Assessed staffing with required changes made to maximize productivity and wage expenses.
- Successfully negotiated payment plans with suppliers and the ATO providing the company with the time needed to effect positive change.
- Current banking facilities restructured resulting in the freeing up of over $40,000 per month in cash flow.
BzMark is also arranging an equity investment package for this now viable company which will allow further growth and opportunity.
To see what BzMark could do for your business call (02) 9960 0145 and ask to speak to Theo Ruygrok or email [email protected]