How do you start working with visionaries and innovators where there is no written pathway? You get back to basics and implement simple business advisory and sound financial strategy from the start. Created in 2016 Australia’s first edible cookie dough brand, a 100% raw edible cookie dough product called Tub O’Dough. Whether it’s healthy or naughty treats, Twenty Group have it all. With a vision to be a part of their customers lives, bonding over a childhood memory. They create products that bring joy fit for every occasion.
Stannards Innovation
We started working with food company Twenty Group in 2018 when they were just 2 years into their start-up phase. We loved the energy of the two young founders and the product and brand that they had built. Our relationship was all about coaching and mentoring them on the finance and business side so they could do what they do best. It was about rolling up our sleeves and implementing the right structure for their business to turn an idea into real dough, or money as we like to call it.
Like any start up, Twenty Group Food were going through the perils of fast growth and challenges of maintaining sustainability. We added structure and a strong foundation to their business by:
– Advising the founders to find the optimal structure for their business, establishing the structure and assisting them through the transition.
– Assisting Twenty Group with forecasting, budgeting and cashflow.
– Advising them throughout negotiations with a potential business purchaser including preparing a high level internal valuation for the business.
– Leveraging our Stannards network to introduce them to a large food manufacturing business which led to the appointment of a new manufacturer with favourable quality and improved costs to produce.
We started our journey with Stannards in October 2018 as our small business started to get a whole lot busier. They helped us transition from a partnership to company structure seamlessly with clear and concise recommendations. When it came to tax time, GST registration, BAS statements and tax returns were stress-free as Jonathan and Chris had it all set up and ready to go with no surprises. Their professionalism and easy-going attitude made the process extremely comforting. At their busiest time of the year they provided us with sound advice and a comprehensive evaluation of our business when we needed it. It shows that they go above and beyond for their clients and we are just not another number.
Amelia Roberts, founder.