Accountant for Abattoirs & Meat Processing Businesses

Click HERE to view PDF

JTU Accounting Group - Specialising in advice for Abattoirs and Meat Processing Facilities

Here at JTU Accounting Group, abattoirs are one of our niche industries .  

Let’s be honest, abattoirs are not a place for the faint-hearted. The slaughtering of animals for human consumption is a messy business and a tough work environment. Meat processing plants require a special breed of worker as they operate in a stressful environment and often spend long hours standing close together on a chain of production in a cool and humid workplace. These conditions can weaken a person’s immune systems and the outbreak of COVID-19 at various meatworks in Victoria in 2020 highlighted the dangers.

It’s a tough business and physically demanding because the tasks aren’t really suited to automation or machinery. The industry is also heavily regulated with inspections by the Food Authorities and audits with microbiological testing for E coli. As you know, abattoirs must undergo routine internal cleaning and sanitation inspections plus maintain detailed cleaning records including chemical usage. You need to have an accredited meat safety inspector on site at all times during ante-mortem and post-mortem inspections and food handlers must take all reasonable measures not to handle food or surfaces likely to come into contact with food in a way that might compromise the safety and suitability of the food. It's a dirty business that needs to be clean!

Of course, slaughtering animals on a large scale poses significant logistical problems. There are challenges around the transportation to and from slaughterhouses, preparation prior to slaughter, animal herding and the killing itself. Cultural and religious issues also pose problems while animal rights groups are another challenge. 

Here at JTU Accounting Group we really understand the industry and not only assist owners of red meat abattoirs, we also help abattoirs that slaughter pigs in Australia for both domestic consumption and export. We have also had exposure to abattoirs that deal with poultry, rabbit, ratite and crocodile meat. While our head office is in Melbourne, we have a branch office in Alexandra (in the Shire of Murrindindi) some 130 kilometres north-east of the CBD. Alexandra is an important commercial hub for the surrounding towns including Yarck, Acheron, Taggerty and Thornton that house several abattoirs

MARKETING YOUR ABBATTOIR

Running a meatworks business is not only challenging, it's very competitive. The marketing of your abattoir could be the difference between gloom and boom and while we have a small firm personality, we have big firm capabilities. Our marketing expertise distinguishes us from other accounting firms.

In the digital and social age your online presence is critical and increasingly Google searches are driving potential new customers to your website. In effect, your website is your silent salesperson working 24/7, 365 days a year to promote your enterprise and over the past few years we have worked with dozens of clients to help them create quality, affordable lead generation websites. Through our affiliates we can help you plan and build your website, optimise it for Google and assist you with your content creation including video production and digital publishing.

Your brand should resonate with your target market and we can assist you with the development of your logo and slogan, your corporate brochure plus we can help you write blogs and newsletters plus help you harness the power of social media to win more business. If you aren’t using some of these marketing techniques your abbattoir probably won't reach its full profit potential.

We will work with you to make sure you understand the four ways to grow a business including the key profit drivers. We can walk you through a number of profit improvement strategies and even quantify the profit improvement potential in your business. Our role is to make sure you know your numbers and don't leave any profit or tax savings on the table.

THINKING OF STARTING AN ABBATTOIR

Abattoirs are one of our specialist client groups and having mentored hundreds of business owners through the start-up phase of their business we have built a reputation as business start-up specialists.

If you are looking to start or buy an abattoir or meat processing plant there are numerous issues to consider. You need to establish your business structure, complete tax and GST registrations, consider insurances, select an accounting software program and explore your finance options. It can be a maze of issues but as accountants and business advisors we can assist you in all of these areas plus provide advice on the preparation of a business plan, marketing plan and a cash flow forecast. If you’re looking to employ staff we can also assist you with human resource matters including payroll, WorkCover and superannuation guarantee obligations.

Over the past two decades, Jim Ulrich and his team of accountants have helped dozens of entrepreneurs get their business off to a flying start. We offer you experience, technical tax knowledge and marketing expertise to fast track your success. We often say, starting a business is a bit like building a house that requires solid foundations and these foundations include the right tax structure and accounting software, adequate and appropriate insurances together with a marketing plan and a lead generation website.

Your choice of business structure is absolutely critical and there are a number of different options including sole trader, partnership, company and trust. When selecting your structure we recommend you ‘start with the end in mind’ because Australian tax laws are complex and changing your business structure at some point in the future can trigger a capital gains tax event that could prove very costly.

Whenever we provide advice on business structures we always take into account:

• Income Tax Minimisation
• Maximize Asset Protection
• Allow for the Admission of New Business Partners or Investors
• Comply with all Legal Requirements and Industry Regulations
• The Risk Profile of Your Industry
• Consider Future Entitlement to Discount Capital Gains Tax Concessions

As a consequence, we often find the business structure is a compromise based on the relative importance of each of these issues.

Another brick in your business foundations is your choice of accounting software. Poor record keeping is one of the biggest causes of business failure and up to date, accurate financial records let you to make informed business decisions. The wrong choice of software can be catastrophic and too often we find business owners produce what we describe as ‘computerised shoebox’ records that cause frustration, waste time and create additional fees. This conflicts with our mission of helping you slash the time and cost associated with bookkeeping and GST compliance.

Here at JTU Accounting Group, we want to be your accountants and business advisors, not an expensive bookkeeping service. We do more than ‘keep the score’ for our clients and when selecting the most appropriate accounting software program for your business we always recommend you match your business needs with your level of accounting skill. You’ll find we support a range of different software options but we do have a preference for cloud based solutions like Xero because of their flexibility. You can access your financial data via the internet and invite your accountant or bookkeeper to view your accounts at the same time. This means you can get bookkeeping support and valuable advice in real-time. You can also log-in anytime, anywhere on your Mac, PC, tablet or smart phone to get a real-time view of your cash flow and your data is automatically backed up. Users have access to the latest version of your financial data plus you never have to worry about installing software or program updates.

To build a house you also need the right tools and when 'constructing' your business we have developed a number of tools including a start-up expense checklist broken down into various categories including: 

-  tools and equipment
-  professional advice and software
-  information technology costs – software and hardware
-  marketing and signage
-  vehicle costs

This checklist will help you identify all your potential establishment costs and these figures then feed through to our cash flow budget template and allow us to produce a projected profit and loss statement for your first year of trading. These reports can also tuck neatly into our business plan template that is designed to help you secure funding from external sources like a bank.

Through our affiliate partners we can also assist you to obtain vehicle finance (chattel mortgage or lease) and get you fleet pricing on your new car, ute or light commercial van that could save you thousands of dollars. We can also help you source funds to finance your business purchase or equipment for your processing plant.

In summary, if you're contemplating starting a business you don't need to reinvent the wheel as we have all the tools and resources to help you get off to a flying start. In fact, that’s just the beginning because as accountants we can do some financial modelling and prepare some ‘what if’ calculations based on different price points. Next, using industry benchmarks we can compare the performance of your abbattoir against your competitors so you understand what is working in the business and what areas still need working on.

Our mission is to help you fast track your business success and the team at JTU Accounting Group offer you a range of accounting, taxation, marketing and business coaching services including:

• Start-Up Business Advice for Abattoirs and Meat Processing Plants
• Advice regarding the Purchase or Sale of your Abattoir Business
• Tools including the Start-Up Expense Checklist and Templates for a Business Plan and Cash Flow Budget
• Advice and Assistance with the Establishment of Your Business Structure
• Tax Registrations including ABN, TFN, GST, WorkCover etc.
• Preparation of Business Plans, Cash Flow Budgets and Profit Projections
• Accounting Software Selection and Training - Bookkeeping, Invoicing & Payroll
• Preparation and Analysis of Financial Statements
• Preparation of Finance Applications - Loans to Buy or Expand a Business
• Bookkeeping and Payroll Services - MYOB, Xero, Reckon & Others
• Tax Planning Strategies
• Assistance with your Marketing including your Branding, Corporate Brochure etc.
• Advice and Assistance with your Website including Content, Videos, Blog Posts and SEO
• Industry Benchmarking and Management of Key Performance Indicators (KPI's)
• Vehicle & Equipment Finance (Chattel Mortgage & Lease)
• Monitoring and Controlling Labour and Sub-Contractor Costs
• Advice & Assistance with Pricing your Products & Services
• Recession Survival Strategies
• Advice regarding Employee Relations and Workplace Laws
• Business & Risk Insurances (Income Protection, Life Insurance etc.)
• Business Succession Planning

In summary, we are so much more than just tax accountants. We are business and profit builders who strive to deliver practical, cost effective advice that could give you a serious competitive edge in your industry. Our marketing skills distinguish us from other accounting firms and if you're a committed and ambitious business owner looking to accelerate your success we invite you to book a FREE, one hour introductory consultation to discuss your business needs. You can expect an hour of practical business, tax, marketing and financial advice that could have a profound effect on your future business profits. To book a time, contact us today and let's get to work on your abattoir so it's more profitable, valuable and saleable.

JTU Accounting Group - Accountants Who Think Outside the Box