Case Study – CMS
Case Study:
From Hot Dogs to High Money: CMS's Journey to $40 Million
Business Overview
In 2005, Concessions Management Services Inc. (CMS) started small, selling hot dogs at a few airport spots. But as the times changed and travellers’ appetites grew, they needed a partner to help them rise in the competitive airport food and beverage business. That’s where we stepped in.
Our Firm's Contributions.
We provided CMS with essential support. We immediately helped them navigate licensing and compliance requirements, ensuring a smooth airport operation.
Our expert tax management and planning served as a financial GPS, ensuring precise and regulation-compliant tax filings. We implemented strategic financial management to sustain growth beyond hot dog stands and handled their contractual obligations, leaving a positive impression on stakeholders.
How we accomplish it?
Our mission was crystal clear: we weren’t just their financial experts but their trusted partners every step of the way.
01. Financial Expertise and Support
- CMS brought us on board as their outsourced CFO.
- We took charge of all financial matters, ensuring stability and accuracy in a changing market.
02. Capital Acquisition
- We used our vast network and banking connections to help CMS raise the capital it needed for growth.
- This financial boost was a game-changer for their expansion plans.
03. Compliance and Tax Planning
- We ensured CMS followed tax rules and contract obligations, saving them from potential problems and fines.
04. Business Growth and Expansion
- CMS started with small hot dog stands, but we saw the bigger picture.
- Over two incredible decades, we transformed CMS from a million-dollar business to a $40 million success story.
05. Diverse Airport Presence
- We guided CMS as they expanded to manage restaurants in six different airports.
- Our strategic advice was a key player in this multi-airport success.
The Transformation
In 20 years, CMS evolved from hot dogs to a $40 million success story. We didn’t just handle numbers; we turned CMS into a thriving business, meeting the ever-changing tastes of travelers.
The Results
Every great story has an end, but ours is a sweet one. Our client retired with a successful exit. A business valued at $40 million – that’s the taste of triumph.
CMS’s story is one of determination, growth, and success. From a handful of hot dog stands to a flourishing enterprise with restaurants in six different airports, their journey is inspiring. Our role wasn’t just to provide accounting services; it was to provide enterprise-level CFO services, hand holding CMS every step of the way. We helped them not just survive but thrive.
