Established in November 2020, Offroad Creative is an Australian family owned and operated manufacturing business based on the Gold Coast, Queensland. The business designs and produced bespoke canopies designed to their customer specifications.
As a Mechanical Engineer with a passion for all things camping and four- wheel driving, founding owner and Director Brad Cullen has produced award winning designs within the industry for years. His keen eye for detail coupled with the ability to Tetris layouts has led to the company producing canopies that are shaped perfectly to the vehicle body, with clean lines and extensive internal functionality.
Recognising that their customers needed more than just canopies the business has expanded its product lines to include front racks, front bars, trays and tub fit-outs. The business has expanded rapidly and currently employs 25 people.
With the excitement of running a growing business there have been challenges. The business has needed to invest in implementing appropriate systems and controls and keep a keen eye on margins, profitability and cash flow. To assist with this Brad’s business partner recommended Brad Ryan and the team at Coeus Advisers to review the health of the business and build upon the successful foundations.
Coeus were able to quickly identify areas for improvement in profitability. These included:
- Driving production efficiencies and output and measuring the same.
- A review of pricing structures to ensure appropriate margins were in place.
- Consideration of additional product lines which were profitable and able to be efficiently integrated into the production line.
Coeus also developed in conjunction with Brad Cullen an agreed monthly KPI report which tracked key business measures including gross margin by product, profitability, labour efficiency, production numbers and liquidity. This has enabled Brad and his team to continue to grow the business knowing appropriate controls were in place to manage profitability and cash flow.
With a strong order book in place the team has plans this year to increase production and service lines. This will require new equipment and new premises. Realising that the business would need additional capital it was important that the business was profitable in order to obtain the necessary finance facilities required for growth. As part of this process Coeus identified and sourced a lender that provided guidance as to what the business would be able to lend based upon the company’s financial performance. The company can now move forward confidently with its plans for future expansion.
Brad Cullen and the team at Offroad Creative are looking ahead knowing they can build on their track record of success with the knowledge they have the right team of professionals supporting them. For more information about Offroad Creative visit their website www.offroadcreative.com.au
