By Shane Jacobson
When JBS Hospitality & Events Group began as a startup business 11 years ago, they were lacking business advice and accounting systems.
JBS Hospitality & Events Group Director, Bree Sherren explained they needed help setting up the company structure, even the vital basics – like payroll and bookkeeping.
“PKF has been there since day one when it was just my husband Jonathan and I venturing into a startup business,” Bree said.
JBS Hospitality & Events Group is one of Melbourne’s largest hospitality and event companies, growing from a single startup to an established business with an impressive portfolio of 11 venues, having bought and successfully sold numerous businesses along the way.
As a startup business, JBS required the suite of PKF’s Business Advisory Services to ensure the group established the company from a solid basis to give it the best opportunity to grow and prosper.
Through the implementation of financial and accounting systems and processes, PKF assisted in developing a strong foundation for growth. It was important that we worked alongside Directors Bree and Jonathan through this phase to ensure they understood the internal operations of the business. PKF is often very involved in the early stages and then our services alter as the business grows and matures.
“PKF is our go-to for business advice, which has proved to be a great decision as we have expanded exponentially!” Bree continued.
Initially serving as the group’s CFO, PKF provided day-to-day management accounting & business services. Then as the business matured focus turned to succession planning and corporate finance services.
PKF Business Advisory Partner, Shane Jacobson said, JBS Hospitality & Events Group came to PKF knowing hospitality well - but not running a business.
“JBS allowed us to structure the business not only to meet regulations and industry standards, but also to importantly allow for a tax efficient structure and provide the flexibility for both the growth & eventual sale of multiple venues,” Shane said.
“We have also been able to connect JBS to other professionals such as lawyers to ensure our client is receiving the best advice from every angle of their business.”
PKF is experienced in working with clients to not only ensure they are compliant but in a position to grow and succeed. Our success is demonstrated through our client’s success, such as with JBS Hospitality & Events Group.
“They laid a great foundation and have coached us all the way,” Bree continued. “Thanks to PKF we’re acquisition-ready and have been able to jump at so many opportunities.”