Oakmont Fitness Case Study

Background

Oakmont Fitness is an exclusive, member-only, private members fitness club specialising in 1:1 training and small group (4)/semi-private fitness sessions within the Devon & Cornwall and Somerset areas.

The business is run by the two co-founders who are qualified and experienced personal trainers and fitness coaches.  Due to demand and an expanding membership base, the owners current focus is on growing their business to provide an elite and tailored fitness service for their members.

Historically, Oakmont Fitness had outsourced its accountancy and taxation requirements to a small local accountancy practice but it became clear as the business grew, against a backdrop of COVID-19, that it needed to engage an accountant offering a wider range of services.  In the past, the business felt that it was reacting to events rather than proactively planning for change and growth.   This led to the need for consultancy and mentoring – helping the business retain demand and growth for their offering during a year of lockdown and enforced closure.   

The Service and Solution

The transition to Everett King started in March 2020 when a national lockdown due to COVID-19 meant that Oakmont Fitness had to close its physical premises and had to quickly develop and launch an online model for their coaching and training and at the same time maintain responsibility for a dedicated team of personal trainers,  fitness coaches, employees and other associated business and premises costs.   As a business, Oakmont Fitness struggled to fully assess the potential lasting impact the pandemic would have and so were genuinely concerned about their future. One of the partners at Everett King, Brian Phillips, is a member at Oakmont Fitness and understood the business model, dynamics and challenges that the fitness sector was facing at that time and he was very proactive in communicating with and supporting the business.  An initial free consultation with between the business and Everett King took place and Oakmont Fitness found that Brian and the team at Everett King added significant value and insight through this forum and appointed them as their accountancy supplier.    

Proactive business consultancy, realistic action plans and recommended tools, processes and efficiencies to help the business continue to operate were quickly put in place.   This also included the delivery of a payroll bureau service for the business to support the regulatory and legislative requirements for an expanding team including all related payroll, pension and auto enrolment activities.

Oakmont Fitness believe they are working with a proactive, engaged and passionate team at Everett King who work with them wisely, setting and monitoring budgets, forecasting for the future and supporting the business with its payroll obligations to its team.

The holistic service and trusting relationship offered by Everett King  are clearly demonstrated in the breadth of managed accountancy services provided including:  

  • Producing timely monthly management accounts and financial statements delivering both management and statutory requirements.
  • Setting of yearly budgets including forecasting, management and monthly monitoring.
  • Executing payroll, auto-enrolment, calculation of payslips and pensions; provision of payslips and including implementing and managing furlough requirements.
  • Identifying potential tax-planning opportunities.
  • Advising on cash flow management.
  • Ensuring that all tax returns for income tax, capital gains tax and VAT are submitted on time.

Oakmont Fitness recognises the inherent shared values with Everett King which means a relationship based on a passion to do what they do best, a shared work ethos, a mutual trust and a dedicated focus on member needs. 

Testimonial

“The relationship we have with Brian and the wider team at Everett King is first class and we could not ask for more. They understand our business, are proactive and very responsive. We feel in very safe hands with a forward-thinking accountancy team that really cares about our business.  When clients come to us they expect the right knowledge, facilities and tools and that’s exactly what I wanted from my accountant.  With Brian’s knowledge and technical expertise supporting us it enables us to reach our full potential and allows us to focus on doing what we do best without worrying about our statutory, regulatory or payroll requirements.  Brian and his team at Everett King manage it all efficiently and we get the benefit of their expertise and great service which I believe is way above what I have experienced in the past. 

If you’re starting out, or if you’re not getting what you need from your accountant then Everett King are definitely worth looking at as providers.

Three words would I use to describe Everett King? Worth every penny!

Aivaras Bee, Co-Founder and Coach at Oakmont Fitness

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