A TPL outsourced accounting client for four (4) years and counting.
With several new and exciting business initiatives in the works, and post covid growth across the board, having access to real time numbers is critical for Losel Tethong, Founder and CEO of Propeller Coffee in Toronto, Ontario.
Losel founded The Propeller Coffee Company ten (10) years ago after a successful career at leading consulting firm, Accenture. Propeller is an award-winning coffee focused business with three revenue streams;
1. A thriving and bustling café at Bloor and Lansdowne in Toronto
2. An event rental business
3. A Wholesale business that supplies cafes, restaurants, offices and specialty grocery stores 75% of his business right now.
What do they stand for?
Quality. Sustainability. Community. More than just coffee.
Covid was challenging for sure, but business has bounced back and is on a strong upward trajectory. With growth opportunities in motion, Losel is grateful that his trusted team from The Profit Line has his back.
Enter The Profit Line
Losel and Propeller Coffee became a client four years ago.
Losel says, “If we had not made the switch to TPL we would NOT have made it through covid. “The team was 120% on top of payables, receivables, and our real time cashflow situation.”
A powerful statement.
Propeller’s TPL team is led day to day by Toshi Hatashita, VP Client Services.
Adriana Avramova, COO conducted the initial assessment. They are now a significant part of Losel’s support team.
What was the trigger to reach out to The Profit Line in the first place?
Losel had been with an independent Bookkeeper, then an agency, then back to an independent. The last bookkeeper created a fairly serious problem with some HST filings while suffering some personal challenges. We all have sympathy for a situation like this, BUT this is one of the disadvantages of working with an independent bookkeeper: no back up plan if one is needed.
For a small and growing business, they needed to know their accounting was being professionally managed and optimized every day.
Change was needed, and it had to be something different but also practical and affordable given the size of the business.
How did you hear about The Profit Line?
Losel says, “I put out 15 emails to my trusted network of friends and colleagues. The owners of Burdock Brewery, Jason and Matt, recommended TPL. They are also happy clients!”
They made the introduction to TPL Founder Fern Gordon who met with Losel. He describes her as, “kind, generous, awesome, professional and calm”.
He immediately appreciated her understanding of process and ethics and he felt they shared values as it relates to the business.
Adriana initiated the process of a deeper assessment, built a recommendation and assigned the day-to-day account management to Toshi.
What do you value most about The Profit Line?
Losel says, “At the heart of it: Toshi is straight forward and direct about the business. But in addition, it is a true pleasure to do business with all of them. I feel the TPL team are my true allies and my friends! This is a testimony to Fern and her business values. Her team feels supported by the culture and it shows”
The TPL team share these values and bring them to life every day for their clients. The main pillars are:
Losel and The Propeller Coffee Company are one of many happy and thriving businesses that count on The Profit Line to manage their day-to-day finances so they can focus on growth.