FroPro has been making healthy eating that little bit easier and more accessible for all Aussies for over a decade. Through delicious but healthy foods, including ice cream, pizza, pizza pockets and burritos, FroPro are helping people “treat themselves”, while treating their bodies better. FroPro believes that no one should ever have to compromise when it comes to what they eat, because health and flavour can stand hand in hand.
The challenge
With strong demand for FroPro’s products and a rapid growth trajectory well and truly underway, FroPro found they needed to elevate their financial governance to take the business to the next stage. Higher-level financial advice and insights would enable the team to make informed decisions to best support the business to scale.
According to FroPro Founder and Director, Ed O’Donoghue, as a high-growth business FroPro was budget conscious, so decided to find an accounting partner which could deliver high-level financial advice, rather than employing someone in house.
“We didn’t have the budget for a full-time CFO or high-level business analyst, but we still wanted the best service possible for a reasonable price.”
Keeping Company was up to the challenge.
How we helped
To start, we collaborated closely with the FroPro team to determine which metrics they needed to track in order to best measure their business performance and make informed decisions about their future growth strategy.
“Keeping Company helps us track key metrics like OpEx as a percentage of growth or net profit for individual product lines. That helps us understand which products to market over others and which will be most profitable.”
Keeping Company took on all financial reporting and forecasting, tracking key priorities including profitability and cash flow. This immediately gave the FroPro team far better visibility into what was really going on in the business. By looking under the hood, we were able to help FroPro identify potential problems sooner and make better business decisions now and for the future.
Keeping Company’s financial governance seamlessly integrates with FroPro’s business operations. We hold intensive monthly check-ins where we work comprehensively through the financial results and business milestones for the period. This model suits FroPro well as they can remain relatively hands off for most of the month, giving them more time to focus on their core business priorities, while knowing that things are taken care of.
The Results
FroPro has continued to enjoy rapid and profitable growth. Keeping Company has been able to provide the support and guidance FroPro needed to manage this growth sustainably and achieve its business goals. In particular, Keeping Company has ensured FroPro’s growth is profitable and that expenditure is under control, putting strong foundations in place for ongoing growth.
The team at FroPro has found Keeping Company to be a great partner to work with, and they appreciate the fact that they are always available and willing to help when needed. According to Ed, the working relationship between Keeping Company and FroPro is excellent.
“They’re great people to work with. They understand high growth startups. Even though they come from traditional backgrounds in big firms, they’re more interested in working with people at a people level. Their enthusiasm for our business was a bonus.”
FroPro continues to kick goals and we can’t wait to see what they do next!
At Keeping Company, we’re not just accountants, we’re business people too. With our counsel, your business can reach its full potential.
We have a team of experts; Cloud Accountants, Business Advisors, Finance Specialists working together and ready to help, contact us today.
For all media enquires please contact Tracy Miller, CMO, Keeping Company 0414 898 452.
The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.