Client Profiles
Our clients come from many industries and every single one requires a unique approach.
Aardent Dental Centre
Over the years, GeersSullivan has assisted Dr Richard Williams to become full owner of Aardent Dental Centre, purchase its premises within a self-managed super fund and restructure the business entities to be more tax-effective.
It has been very rewarding to help Richard achieve his goals.
Background
Established over 30 years ago, Aardent Dental Centre is based in Victoria Park. The name comes from the word ‘ardent’, signifying the team’s passion for helping to improve the oral health of people in their community.
Having previously worked with Director Chris Grieve, GeersSullivan was approached by owner Richard in 2013. His mentor and business partner was retiring and Richard wanted to buy the remaining half of Aardent Dental Centre. It was in his best interest to engage a separate accountant and we have been Richard’s accountant ever since.
Our Approach
As well as acquiring the outgoing partner’s 50% ownership of Aardent Dental Centre, the transaction also involved purchasing the commercial property that Aardent Dental Centre operates out of, which Richard’s business partner solely owned.
GeersSullivan helped Richard to set up a self-managed super fund to purchase the property while also simplifying the business’ accounting structure by rolling the two partnerships into a single entity; transferring employee contracts and entitlements and so on. We also transferred Aardent Dental Centre across to Xero’s cloud-based accounting software in conjunction with his internal bookkeeper.
With many years of experience helping in the purchase of sale and businesses, GeersSullivan really understands the logistical details and can advise on what needs to happen – everything from transferring the trading name to dividing up assets and even printing new business cards.
GeersSullivan continues assisting Aardent Dental Centre with their ongoing bookkeeping, superannuation and GST compliance, end-of-year financials, taxation planning and generally being responsive to the issues that arise from time to time with any small business.
Additionally, GeersSullivan has helped Richard to restructure the entities that Aardent Dental Centre operates out of, with the long-term view of accessing previously unutilised deductions and improving the overall tax position of the business and the family trust.
Outcomes
Since 2013 we have helped Richard and Aardent Dental Centre to:
- Smoothly transition business ownership while simplifying the business structure
- Purchase the Aardent Dental Centre premises within the self-managed super fund, which represents a good financial investment and more favourable tax environment
- Reduce Richard’s tax liability by restructuring the business entities more effectively
- Transfer to Xero’s cloud-based accounting software, which offers greater, real-time financial insight
- Proactively plan towards further wealth creation and Richard’s long-term retirement
“GeersSullivan has helped to refocus what needs to be done on the financial side of things. We work really well together and Chris and the team are always so contactable. GeersSullivan really know the rules and regulations and are prepared to think outside the box to figure out effective solutions. I feel really supported.” – Dr Richard Williams
Perth Gourmet Trader
GeersSullivan has helped Jonathan and Kirstie Kemble to grow their wholesale business and pursue exciting new opportunities.
Recently opening two retail outlets at the newly developed Yagan Square, Perth Gourmet Trader has joined the vibrancy of Perth’s food and wine landscape. GeersSullivan is proud to have contributed to this success.
Background
In 2010, Jonathan and Kirstie Kemble established Perth Gourmet Trader, a wholesale fine food and wine company. Though originally the business was the Western Australian franchise of a national company, in April 2017 the husband and wife duo branched out on their own.
Known as the ‘curators of flavour’, Perth Gourmet Trader carefully selects each premium product to ensure an exceptional culinary experience for their clients, who range from Optus Stadium to Petition and Deli Divine.
Since then Jonathan and Kirstie have expanded Perth Gourmet Trader into two retail ventures at Yagan Square’s Market Hall that showcase their high quality products – Perth Gourmet Trader Deli and Wheat St, a European inspired restaurant that serves pasta, bruschetta and salads.
Our Approach
Coming from a chef and banking background respectively, Jonathan and Kirstie were new to business when they started Perth Gourmet Trader. Therefore, at first our Associate Director, Ashley Dawson, assisted them with their cash flow, pricing, lodgements and so on with the ultimate goal of profitability. Later, Ashley and the GeersSullivan team provided strategic analysis and advice regarding taxation and financial planning.
When the opportunity arose to open two retail outlets, Ashley assisted Jonathan and Kirstie with their application to the Metropolitan Redevelopment Authority (MRA). The tendering process was very comprehensive and included anticipating the foot traffic from various points in Perth and Northbridge and the amount of coffees, alcoholic beverages and food that would be purchased.
Once Jonathan and Kirstie were successful in their application, Ashley and the GeersSullivan team began the process of helping to secure financing. After the building and fitout at Yagan Square was finished, Perth Gourmet Trader Deli and Wheat St opened on 28 February 2018.
We have also assisted Jonathan and Kirstie with how to structure the businesses to operate side-by-side in the most tax-effective manner possible, with Perth Gourmet Trader providing stock to Wheat St and the Perth Gourmet Trader Deli.
Outcome
Jonathan and Kirstie are both hands on and, as proactive business owners, like to understand GeersSullivan’s financial strategies. Over time, this has meant that they’re in a better position to plan, anticipate potential issues and address them.
Over the years Ashley and the GeersSullivan team has helped Jonathan and Kirstie to:
- Source financial software that is better suited to Perth Gourmet Trader’s needs and volume of business
- Manage cash flow and increase overall financial stability and profitability, which allows them to grow their business and pursue lucrative opportunities
- Engage a bookkeeper to monitor their weekly and monthly finances, which has freed Kirstie to focus on their core business activities
- Successfully complete the tender process for Yagan Square
- Establish two new retail outlets, including securing finance for the fitout
- Structure their businesses to maximise profitability
“GeersSullivan has become part of the Perth Gourmet Trader family. We couldn’t imagine running our businesses without them. They really ‘get’ what we do and who we are as people. The GeersSullivan team has empowered us to grow and expand, and are so supportive of what we want to achieve. In fact, they regularly check in with us to see how we’re going. We wouldn’t trust anyone else with our finances.” – Jonathan and Kirstie Kemble, owners of Perth Gourmet Trader, Kemble Foods and Wheat St.