Case Studies

DON'T JUST BELIEVE WHAT WE TELL YOU.

See some real life case studies below and the results these businesses had from using Herrmann Advantage Consulting.

CASE STUDIES

CASE STUDIES

 

INDUSTRY: RETAIL

BUSINESS TYPE: Multi Store Retail


SITUATION: This is a family business. They began their engagement with our firm due to declining business and having been placed on their lenders "watch list". The owner had made several poor decisions regarding product placement and inventory purchase. The owner had also made sever other business decisions that had essentially turned his business into a new "start-up" that generated concern on the part of the lender. This company was engaged with Herrmann Advantage Consulting for a total of 13 months.
 
CategoryStarting PositionEnd Results
Employees15 (not including owner)15
Managers22
Revenue$875,000$1,230,000
Margin %29%60%
Gross Profit$253,750$738,000
Cash On Hand$15,000$73,000
Net Profit$6,500$59,000


BUSINESS TYPE: Specialty Retailer


SITUATION: This is a midsize small family business. The business was losing money monthly and was not growing. The owner did not know why and did not know what it cost to provide their product to the consumer. A refinement of their processes, eliminating excessive waste and the development of a new sales compensation plan was completed. The new plan focused on growth in new business while retaining existing business.
 
CategoryStarting PositionEnd Results
Employees11 (including owners)11 (including owners)
Managers11
Revenue$1,200,000$1,400,000
Margin %26%54%
Gross Profit$312,000$756,000
Cash On Hand$9,000$27,000
Net Profit-$10,000$338,580

INDUSTRY: MANUFACTURING

BUSINESS TYPE: Engraving and Fabrication


SITUATION: This Northeast Wisconsin engraving and fabrication company is a family business. They began their engagement with Herrmann Advantage Consulting due to nearly non-existent new business development and production inefficiencies. The business was eroding at approximately 24% per year and had significant production problems due to antiquated equipment. The owner was nearing retirement age and, not only was there no transition plan in place, but the lack of business growth was jeopardizing the future of the business for the two adult children who were going to succeed the current owner.
 
CategoryStarting PositionEnd Results
Employees5 (not including owners)5
Managers22
Revenue$492,000$925,000
Margin %71%82%
Gross Profit$349,320$758,500
Cash On Hand$41,000$68,000
Net Profit$36,911$84,000


BUSINESS TYPE: Metal Fabrication


SITUATION: This company was less than three (3) years old and is a family business. They began their engagement with Herrmann Advantage Consulting when numerous account receivables were delinquent or overdue. The owners were fearful of bankruptcy. The company desperately needed immediate help from a professional management company with small business expertise. We continued to work with this company with the significant results outlined below.
 
CategoryStarting PositionEnd Results
Employees5 (not including owners)11
Managers12
Revenue$585,710$1,320,000
Margin %46%49%
Gross Profit$269,426$646,800
Cash On Hand$6,500$71,500
Net Profit-$9,275$51,800


BUSINESS TYPE: Machining


SITUATION: This is a family business. They began their engagement with Herrmann Advantage Consulting shortly after they lost 40% of their revenue when losing a client. The owners were nearing retirement age and there was no transition plan in place.
 
CategoryStarting PositionEnd Results
Employees7 (not including owners)13 (not including 2 owners)
Managers13
Revenue$820,000$1,400,000
Margin %32%44%
Gross Profit$262,400$616,000
Cash On Hand$4,800$52,300
Net Profit-$14,225$63,000

INDUSTRY: SERVICE

BUSINESS TYPE: Service


SITUATION: This is a start-up family business. The business was losing money monthly and could not sell more to become profitable. In fact, each sale cost them money. The "cash" in the business was the original equity from an online bank loan.
 
CategoryStarting PositionEnd Results
Employees6 (including owners)4 (including owners)
Managers11
Revenue$175,000$265,000
Margin %13%38%
Gross Profit$22,750$100,700
Cash On Hand$22,800$52,300
Net Profit-$32,000$33,231

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