Most bakeries aim for a 70% gross profit margin and 30% cost of goods sold (COGS)—but many fall short without realising why. In this short video, we explore four areas that can make a big difference to your profitability: Cost of Goods – Are you reviewing supplier costs and shopping around? Product Mix – Are…

With the start of a new year, businesses often ask how they can use strategic planning to drive success. Strategic planning is more than just goal setting; it’s about creating a clear path to achieve your overarching outcomes and ensuring every step contributes to that bigger picture. Read on to discover how a solid strategy…

Strategic planning is the process of developing and documenting the direction for your business. It considers where you are now, where you want to be, and how you’re going to get there – even in the face of unexpected challenges (like a pandemic). If you don’t have a strategic plan in place, this should be…

As the year draws to a close, we encourage you to reflect on your achievements, learn from your challenges, and plan for the year ahead. If you’re looking to recharge and gain fresh insights for your business, why not pick up a great business book during the holiday break? To help you get started, we’ve…

In his latest video, Glenn shares advice on running a successful bakery, starting with knowing your numbers. Discover how to track and optimise key performance indicators (KPIs) like staffing costs, cost of goods, customer flow, and average spend. Learn practical tips to reduce wastage, streamline operations, and make small changes that drive big improvements in…

As the festive season approaches, many of us look forward to celebrating with friends, family, and coworkers. While Christmas parties and gifts are a great way to show appreciation to your employees, they can also come with unexpected tax consequences. Here’s a guide to help you navigate the potential Fringe Benefits Tax (FBT) implications of…

In this video, Glenn shares a success story of a bakery client who turned around their financial position with our help. Through regular monthly meetings and financial analysis, we identified key issues such as rising costs, unadjusted prices, and wastage and implemented strategies to boost profits. Learn how staying on top of your numbers and…

In this video, Glenns shares details on Sharp Accounting’s Profit Improvement Program, designed to help businesses identify areas for profit enhancement. Discover how we recently helped clients recover substantial expenses, from renegotiating bank charges to analysing staffing hours. By leveraging data and insights, we empower businesses to make informed decisions that boost profitability. If you’re…

For the last couple of months, our focus has been on the power of regular accountability meetings and monthly financial reporting and how businesses can use them to achieve better financial outcomes. We wanted to share the details of how we helped a client improve their performance using these strategies. One of our bakery clients,…

Productivity is often associated with strong economies, thriving businesses, and the efficiency of skilled workers. If more businesses were productive, we’d likely see fewer failures, higher employment, and better incomes for both owners and employees. According to the Xero Small Business Insights 2023: Industry and Regional Trends report, wholesale trade was the most productive industry…

In this video, Glenn explains how preparing and understanding key financial reports—such as profit and loss statements, balance sheets, business plans, and cash flow forecasts—can determine the viability of your business. He highlights the importance of these reports for lenders, investors, and government bodies when assessing your business for loans, investments, or grants. Learn how…

In this video, Glenn discusses the importance of understanding your financial reports to improve your business results. Learn how analysing both past performance and future projections can help you track growth, identify opportunities, and make informed decisions. Discover how financial reports can guide you towards achieving your financial goals and growing your business value. The Essential SME Checklist for Growth +…