The Situation
Cheree Berry Paper (CBP), one of the nation’s premier custom stationery and graphic design firms, has designed wedding invitations for first families and delivered paper possibilities to Hollywood’s most sought-after stars. They have expanded from a one-person shop to a team of more than 20 women in just over a decade so they are adept at managing growth. In 2017, in addition to a large-scale office move, they began thinking of adding a brick-and-mortar retail shop to their custom studio space. That’s when leadership realized they needed more than a tax provider.
The Challenges
“As we expanded into this new model, it presented a whole additional set of considerations,” said Kristen Armstrong, Cheree Berry’s CFO. “We needed an accounting firm who could mitigate our tax liability, but also an organization that could provide expense classification guidance, advise on inventory, and act as a strategic partner.”
New business lines require new areas of expertise, so CBP began looking for a new strategic accounting partner. Through a business connection, they were introduced to the team at Anders CPAs+ Advisors and knew this firm could offer the high-level business and tax guidance their growing company required.
“Even in initial getting-to-know-you meetings, I felt that Anders could become a long-term, trusted advisor,” shared Armstrong.
The Solution
Anders worked with the leadership team at CBP to maximize tax savings during the office move and creation of a separate retail store. The team worked hand-in-hand with Armstrong to separate margins from the retail and custom side of the business for a more accurate, 360-degree view.
“In addition to the practical and operational advice, Anders offers continuing education opportunities and introductions to an impressive network of people,” said Armstrong. “I’ve benefitted from seminars exploring everything from IT to tax law changes.”
She adds that the breadth and depth of expertise at Anders is unparalleled. “If our team doesn’t know the answer to a question right away, someone in the firm will—and they all work together for our benefit.”
The Results
CBP’s leadership now has quarterly meetings with their team at Anders to discuss everything from tax liabilities and margin growth or shrinkage to cash flow projections and long-term financial planning.
“Multiple stakeholders are in these meetings, and Anders does a great job of presenting the facts and then our options for actions, clarified with pros and cons of each decision,” shares Armstrong. “When we leave those meetings, the entire CBP team feels comfortable with what was decided.”
She notes that Anders feels like a true partner and advocate for the company and brand—and that translates into results.
“This year, CBP grew by approximately 10% and Anders strategic planning helped us achieve that,” said Armstrong. “Our Anders team understands the business as it is today, but perhaps more importantly, they understand where we want to go—and are right beside us as we take the steps necessary to get there.”
Learn more about Cheree Berry Paper or the Anders Women’s Initiative.
Contact an Anders advisor to learn how we can help you or your business.
