Allen Street Consulting

BACKGROUND

Introduce your business and what you do there.

I was the owner and operator of a landscape company.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Allen Street Consulting?

At the time, I was 17–18 and had no idea that you had to file for sales tax. I looked for an accountant because I wanted to analyze the business's profits and losses. I was then audited by the IRS, so I needed help.

SOLUTION

What was the scope of their involvement?

Allen Street started by helping with the IRS audit that involved multiple facets including unemployment, workers compensation insurance, and New York state sales tax. I had issues across all three of those categories. Their team helped me come up with the amount due, which I paid.

After settling with the IRS, their team set up and broke my business into an accounting spreadsheet. They put together a chart of accounts. Their team set me up with QuickBooks invoicing program and I started by doing the invoices myself. That got to be too much backend work. They started expanding their services to take on routine responsibilities including monthly reconciliations and allocating accounts receivables.

What is the team composition?

I interacted with the two founders.  

How did you come to work with Allen Street Consulting?

A person in my network recommended Allen Street Consulting.

How much have you invested with them?

We spent anywhere between $200–$400 a month with them.

What is the status of this engagement?

I started working with Allen Street in 2012. I sold the company in 2017 but the company still uses their services.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

We came to them when the business was valued at $30,000–$40,000 and grossed $100,000 in sales a year. Over the course of the five years that I worked with them, we grew the business to $300,000 in gross sales and paid off the majority of our startup investments.

They helped us to achieve $200,000 in revenue growth over five years. Their team helped us to triple our sales. They definitely helped us to better understand our bottom line. Their team provided guidance that allowed me to feel like I had control in the accounting, compliance, and tax departments.

How did Allen Street Consulting perform from a project management standpoint?

We spent a lot of face time together. Their team was hands-on with the partnership.

What did you find most impressive about them?

I had an engaged relationship with Allen Street. Their team was good about providing a small business touch.  The business remains with them, which is a testament to their good work.

Are there any areas they could improve?

I was pleased with them.