Consulting you can understand, Planning you can build a future on.
There's nothing like having your own CFO who knows towing!
About
Giving YOU Mastery of you Finances
The goal is to give you complete understanding and control of your finances so that you can make the best decisions for your business. My primary consulting goal is to act as your CFO giving you the understanding of your current position, impacts on the planning decisions you need to make and giving you the security of having a Chief Financial Officer (CFO) on your staff without the salary and benefit expense.
Building Strong Futures
Our objective is to help you grow a strong company that can withstand any storm and maximize your wealth-building potential. Strong companies can adjust if they know where they are financially and what moves gives them the most leverage. We do this by creating business plans, financial analyses and proformas and working with lenders to secure the financing you need.
About Me
After obtaining my MBA at the top of my class,Bert began his career in corporate banking setting up the bank's business evaluation department and then becoming the youngest Vice President in the banks 150-year history specializing in mergers and acquisitions. In 1997, he made a competing offer against Road One and purchased his first towing company later growing that company to 4 locations with over 80 employees. Currently, He now acts as a Fractional CFO for towing companies and sits on the Board of Directors for the Hall of Fame & Towing Museum and Tow Times Magazine.
Frequently Asked Questions
What does a CFO do?
A full or part-time CFO addresses in-house accounting and balances the books. But more importantly, such professionals ‘interpret’ the numbers, helping you make efficient, timely, and successful business decisions.
A fractional CFO comes to understand your business and core processes so you can focus on business operations, growth, and do what you do best – leading the company.
Among the major benefits of having a CFO is instant access to incredible business strategy designed to accomplish the goals you've set for your business. We take your goals and design the strategy to get you there. Depending on your needs they’ll build financial models, financial reports, handle debt, accounting, budgets, secure credit, determine the true costs of doing business and help with the cultural integration that may be necessary to bring your business to the next level.
Decide if your time is better spent focused on your business while you let us take care of CFO duties. Request a consultation to discover if our outsourced CFO service is right for you.
How Much Does a Virtual CFO Cost vs Full-Time CFO
Should you consider CFO consulting hourly rates, try a monthly service plan, or hire a full-time chief financial officer? Consider some calculations:
Perhaps you need a fractional or part-time service provider for occasional specific projects from time-to-time, resulting in 80 total hours at the end of the year. At $300 per hour, that’s $24,000.
If you need a fractional CFO more regularly, say all day twelve times a year, for accounting, to ensure the books are accurate and help you make strategic and profitable business decisions, it would cost $18,000 (at the fractional CFO rate of $1,500 per day).
Maybe you’re undergoing a merger or acquisition and need an experienced CFO for a few months. It would cost you somewhere between $15,000-$30,0000, which is significantly more affordable than the $200,000+ (plus benefits) a full-time expert would demand.
Fractional CFO Cost Journey
As mentioned, the average relationship lasts for one to two years, which starts with a ‘Discovery Phase’.
Discovery rates average $1,500 and will establish immediate fixes as well as short-to-long term actions and business aspirations.
After the Discovery Phase, businesses create customized journeys with fractional CFO service providers. A timeline may look something like this:
- Initial consultation → fix immediate issues (1-3 mos)
- Create an actionable plan (1-6 mos)
- Implement and revise (6 mos – several years)
- Begin to address bigger projects and business growth
In some cases, businesses partner with fractional CFO services for a decade or longer as the relationship allows for growth and continued success.
Part-Time CFO Packages
- Basic plans/financial reporting $250-$300 per session
- Monthly to quarterly packages $300-$800
- Benchmark reporting $1,000 + (depending on size of business)
- Obtaining Financing 1% of loan amount requested, $500 minimum
Some offer part-time CFO packages or bundled plans. You can find packages that charge per session, month or quarter. Rates vary depending on the breadth of the work and the depth of analysis, however, many part-time CFO services companies don’t advertise package deals. This is because the true nature of the service is customized. They must understand your needs and goals before creating a unique and customized plan for your business.
Outsourced CFO service packages are devised after considering:
- The type of systems your company uses
- Size and duties of current personnel
- Whether you have a full-time accountant or bookkeeper
- The size and volatility of your market
- The number and type of sales channels leveraged by your business
Additional Part-Time CFO Costs
Additional costs may apply depending on your location, level of need, and availability of your fractional CFO. Some experts have clients pay for travel, room, and expenses if they need to make arrangements for training, meetings, integration, etc.
Also, the relationship may necessitate other expenses such as QuickBooks software and training someone who can bridge the gap between daily in-house operations and remote contact with your fractional CFO service.
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Send me a message, and tell me more about your financial goals and needs. I will get back to you soon to schedule a consultation. If you are in need of masks, please click the Shop tab above.
King Consulting Group
Hours
Monday - Friday: 9am - 5pm
Saturday: By appointment
Sunday: Closed
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Masks Available for COVID-19
US Inventory still available. Contact us for special pricing of orders of 100,000 or more.