Addison's Barbershop

Addison's Barbershop, located in Toowoomba, South East Queensland, is owned and operated by Addison Manning—voted Toowoomba’s best barber in 2020. This small business, found in the heart of the CBD, is often with queues of patrons streaming outside, waiting to get shaped and styled by Addison and his team.

the background

Our partnership

Addison became a client of TrueSight at, you guessed it, the barbershop, following a routine haircut of one of our advisors. The barbershop had already opened its doors and Addison was looking for an accountant who could support him with the day-to-day financial management of the business, as well as assist him in maintaining compliance with the ATO.

Upon taking on Addison’s Barbershop as a client, it was quickly identified the already successful business would rapidly outgrow its current structure and was in need of some expert guidance through the early stages of operations.

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the Process

How we provided value

At Truesight Advisors, we provided support to Addison’s Barbershop through financial management and maintaining daily bookkeeping services, allowing Addison and his team to focus their attention on their customers and running a thriving, young business. On top of this, we realigned the business into a more appropriate entity structure, which enabled more flexibility in dealing with the taxable profit and ultimately delivered a better outcome for the family group.

We've continued to provide daily services to the business and oversee the onboarding of all employees—both casual and full-time—ensuring that all payee obligations are met. Our ability to be flexible to the ever-evolving landscape of the growing business and tailor our services to meet its changing needs, has proven to be the most successful.

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Testimonial

Riley has helped the business from the very early stages and his time and advice have been invaluable.

Addison Manning - Owner Operator

92.91%

Revenue 21/22

Addison’s Barbershop’s revenue has grown 92.91% in 12 months.

Employees

Started as a sole proprietor to now having four employees.

the results

Our success

Addison’s Barbershop’s revenue has grown 92.91% in 12 months. It has developed from once being a sole proprietor to having four employees and is now considered the premier barbershop in Toowoomba. TrueSight has removed the daily stress of the back-end financial management responsibilities, enabling the owners to focus on growing the business—which they've achieved, successfully. Our vision is to continue to provide personalised, above and beyond service whilst remaining flexible to the needs of the business and its owners. This will in turn increase profitability and give them the adequate cash flow to facilitate growth.

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