Through boom and bust, BK has continued to help keep us profitable and they are a great source of positive encouragement. Nothing is too much trouble. I would recommend BK without hesitation to anyone in business or thinking of starting a business – BK is a firm of accountants who are professional, knowledgeable, experienced and who will go the extra mile.
Making Critical Decisions
A Case Study of How Buckley Kiely is Helping Clients to Make Timely Decisions Critical to their Business
A client very close to our hearts at Buckey Kiely is, TOSS BRYAN, supplier of home appliances, garden, DIY, electrical & building supplies, based in Fermoy, Co. Cork.
Who are they?
In operation now for more than 60 years, the team at Toss Bryan in Fermoy, Co. Cork has more than 200 years of combined experience in hardware, DIY and electrical. Business for this dedicated team is all about sharing that vast product knowledge with their customers – the specialist staff in each department complement each other to ensure delivery of the highest standard of customer service possible. It’s that added service and attention to customer care that has ensured such loyalty from generations of families in the North Cork region.
What they do
A local supplier of home appliances, garden, DIY, electrical and build, Toss Bryan has an extensive range of products.
The retail departments include: paint, stoves, doors, wooden flooring, bathrooms, tiles, gardening, homeware, tools, electrical appliances, and new or pre-loved lawnmowers.
Toss Bryans staff will offer tips, advice and design suggestions for any room of your home.
It’s the added extras that make this local family business stand out from the competition and Toss Bryan has these in abundance; they provide paint mixing, servicing of lawnmowers, free potting service, free quotes, delivery, saving clubs, finance on larger items, and they even carry out your purchases to the car!
A Family Business with Loyal Support
A family run business for over 60 years, (Toss Bryan celebrated its 60th Anniversary in 2013), it all began with a small store on Patrick Street in Fermoy town, before expanding to its current location.
Toss Bryan Jr. took over the helm after his father retired from the business. Known to his friends as Tommy, he had worked in the family business from the age of 13 before later going to university and then working as a manager at Dunnes Stores for a number of years prior to his return to Fermoy.
Tommy’s wife Lourde, a graduate of CIT, joined the business in 2005 and together they now manage their current 30,000 sq ft premises on Court House Road which employs over 35 staff members.
Tommy heads up front of house sales & marketing, while Lourde, Financial Controller, is responsible for managing the financial and administrative arm of the business. Their longevity can be primarily attributed to the ongoing support of the local community and their staff’s dedication to providing exceptional advice, value and customer service that’s second to none.
The BK Connection!
Seamus Buckley originally met (a very young) Tom and his father Toss in the original shop in Fermoy one evening back in 1997. Tom was getting more involved in the family business by that time – he had plans, ambitions and needed a lot more input and guidance than they were receiving from their existing accountant. Seamus had been working a lot with another father/son business in Fermoy back then – people he is still friends with to this day. Based on their experience, they recommended Seamus to Tom who had been friends with the son.
Seamus recalls looking at the previous three years’ accounts and going through them with Tom and his father. They discussed the fact that while there were no issues with their annual accounts, they were not very useful as a management tool. There were unavoidable inconsistencies as it was a once-a-year event and they provided a general overview as opposed to the more timely, detailed profit analysis that was really required.
Toss Bryan really needed an accountant that would actively engage with them, in partnership, to help them grow, develop and build their business. Tom heard first-hand from his friend how Buckley Kiely had done just that with them, building a relationship that was much deeper and more personal. That referral, and many others like it, has proven to be invaluable to Buckley Kiely, both in terms of gaining new business, but also in demonstrating the added-value that we can bring to companies over and above the minimal compliance to provide annual accounts.
“BK has helped Toss Bryan produce management accounts, implement better procedures and controls and also supported us with issues such as recruitment or dealing with the banks – if they don’t have the expertise in-house they always know someone who does – their support and genuine concern for us is tremendous”, said Tom Bryan. “Through boom and bust, BK has continued to help keep us profitable and they are a great source of positive encouragement. Nothing is too much trouble. I would recommend BK without hesitation to anyone in business or thinking of starting a business – BK is a firm of accountants who are professional, knowledgeable, experienced and who will go the extra mile”.
This year marks 20 years in partnership with Toss Bryan – how the years fly by! Those of us at Buckley Kiely who work so closely with them, consider Tom, Lourde and the team there as much more than clients. They are fantastic people and we take extraordinary pride in their expansion and success – long may it continue!
Timely, Good Decision-Making Key to Success
Tommy attributes much of their success to timely good decisions made at key turning points in the history of the business.
In 2002, Toss Bryan made the decision to partner with national buying groups to help boost their purchasing power and sustain price competitiveness in increasingly challenging markets. Buckley Kiely contributed to the analysis of the options available at that time, helping Toss Bryan to make decisions fundamental to the future of the business.
Very soon after, Tommy began considering a move from their then location in the town centre to a new purpose-built site on the outskirts of Fermoy (opposite Supervalu). This was by no means a small undertaking, an expansion from 10,000 to 30,000 sq. ft. involving a significant capital investment and outlay on the building, fittings and stock. Tommy believes that Buckley Kiely were instrumental in making it happen and in ensuring the project rollout was a success. “We believed the time was right for expansion and that it could be very successful, but Buckley Kiely helped us work out a plan that proved it. Having helped us make the decision to go for it, Buckley Kiely then helped arrange the capital finance, liaised with the bank, solicitors, engineers – all the professionals, they provided help in selecting a new POS system, recruitment, implementation of new management structures and the controls required for a completely new scale operation”, explained Tom Bryan. “Turnover doubled within weeks of making the move and I believe we would have struggled without the help received particularly from Seamus and Hilda O’Donovan at BK.”
Having helped the business grow and take advantage of the boom, BK were also instrumental in ensuring survival during the recession. Tommy recalls receiving a call one evening in early 2008 from Seamus who advised him that it was time to start cutting back on expenses. “Although it was the start of a tough period for the business, we got ahead of the curve in terms of cutting back on expenses and this was instrumental to our survival. Buckley Kiely helped us to make some tough, but necessary decisions.”
More recently, now that business is gladly back on a growth curve, Toss Bryan made the decision to invest in a much-needed upgrade to their POS/financial system. Another significant capital investment decision, Lourde spent 12 months researching the options and received considerable assistance from Buckley Kiely before coming to a final decision.
One Stop Shop for all Home Owners
A one-stop-shop for home improvers, Toss Bryan provides a beautiful range of paint, tiles, doors, flooring, electrical appliances, bathrooms, stoves and fireplaces for indoors in addition to garden furniture, barbeques, lawnmowers, landscaping, plants, pots and bedding for the outdoors. They also stock an extensive range of household goods – a great source of beautiful, functional and decorative items for the home.
Toss Bryan is located on Courthouse Road, Fermoy, Co. Cork.
Contact them on: 025-31833
Opening Hours: Monday-Saturday 9am – 6pm
Sunday 1pm – 5pm
Keeping Your Best Interests at Heart
Keeping Your Best Interests at Heart:
A Case Study of How We Helped an Investment Client
During our initial meeting with a new client it came to our attention that he had invested a significant sum of money some years ago (during the boom) with one of the major Irish banks, and that the investment had suffered a significant financial loss.
At the time of making the investment, our client was advised to invest a significant portion of his savings into a high risk investment. The client had no knowledge of the markets and believing he could trust the bank, he invested his money as advised.
Within a couple of years of making the investment, and much to his dismay, he had lost all of his money! Naturally, this experience had made him very reluctant to consider ever investing money again.
Something about this case didn’t sound right, so we asked our client to provide us with full details of the investment and documents that he signed and we referred him to Richard Fowler at Buckley Kiely Wealth Management, to review.
“From the day I met Richard and discussed my investment problem, all anxiety I had surrounding the issue which had plagued me for 6 years literally vanished. The advice I received was direct and delivered in a calm and detailed fashion. I was given honest advice which I really appreciated at that time. Richard took me through every step of the complaints process and I can honestly say that without his involvement I would not have gone through with it as it seemed a very daunting task.
Having completed a review of the details, it was our position that
- He had been sold an investment product that was totally unsuited – the product carried a high level of investment risk that was not appropriate to the client in view of his financial objectives, age, investment timescale and knowledge of investments;
- The advice provided no investment diversification as the product was invested in one asset which resulted in the investment representing more than 70% of his total assets;
- The risks involved were not clearly explained/outlined to him;
- The client was put under pressure to sign up to the investment on the same day;
- The product and advice was weighted much more in the banks favour than the clients.
After a detailed consultation it was agreed that we would help our client make a complaint to the bank to address the financial loss. The complaint was subsequently totally rejected by the bank, and thereafter, we made a claim to the Financial Services Ombudsman.
I am forever grateful to Buckley Kiely, and to Richard Fowler, in particular, for taking such a personal interest in what happened to my investment with the bank and for fighting my corner with me all the way to the Ombudsman. I am delighted with the outcome not least because I really didn’t expect it – the Ombudsman found in my favour and the bank has refunded 100% of my initial investment!
Unlike the bank, Buckley Kiely Wealth Management proved they have my best interests at heart and I would urge anyone who has experienced similar difficulties to myself regarding the miss-selling of financial investments to immediately contact Richard. He will help you understand your financial rights and get justice where it is deserved.” – Diarmuid C.
[Given the confidential nature of this information, we have protected our client’s identity].
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Delivering Peace of Mind
A Case Study of PCH International
Founded by Liam Casey in 1996, PCH International has corporate headquarters in Cork, Ireland and operational headquarters in Shenzhen, China.
Combining end-to-end services with a unique understanding of China, PCH is the partner behind-the-scenes responsible for some of the most successful consumer electronics accessories launched, such as eReaders, smartphones and tablets.
Having grown from just one person in the first two years to over 5000 employees in locations spanning four continents today, PCH services span all stages of the consumer product development and supply chain, from concept to delivery, and all critical steps in between. PCH is the enabler, turning ideas into physical products, while optimising quality, cost and time-to-market for clients.
Liam Casey, founder and CEO of PCH International, has been at the helm of one of Ireland’s real success stories and has demonstrated how an Irish company can generate significant success in global markets by thinking and acting strategically. Casey received the award of overall winner of Entrepreneur of the Year in 2007 and more recently was awarded the All Ireland Marketing Champion Award at the All Ireland Marketing Awards in 2012.
PCH International promotes core values of “Passion; Integrity; Teamwork” and their stated purpose is “Developing Partnerships Delivering Peace of Mind”.
“The company’s core values and purpose are a reflection of Liam’s own personal qualities which have been key to the success of PCH”, said Seamus Buckley, Buckley Kiely & Co.
Casey was referred to Buckley Kiely by the bank at the inception of PCH in 1996. Buckley Kiely initially fulfilled a need to set up and help run the business. This enabled Casey to focus on core strengths of business development & marketing; identifying the potential and opportunities for growth in China, while leaving the administration in the reliable hands of Buckley Kiely.
Casey did the business while Buckley Kiely looked after the business!
Providing assistance to start ups is just one of a range of services provided by Buckley Kiely. “We aim to be with these companies every step of the way”, says Seamus Buckley “providing holistic services, dynamically in line with their changing needs. The client’s success is our success and it is equally important to us as our own.”
Acting more as the financial arm of the business, as opposed to as an external entity providing a service, Buckley Kiely has always been fully involved in the business management and development of PCH. Calling on expertise in a wide range of fields of management, our remit has simply been to take a proactive approach to overcoming any obstacles to success and to transferring Casey’s aspirations into reality.
“Although PCH is now a multi-national organisation”, said Liam Casey, “we continue to maintain close involvement with Buckley Kiely and use their extensive experience and expertise. Their advice is invaluable as it is based on years of co-operation, integrity and success”.
Buckley Kiely has an ethos of “doing more for less”, of going that extra mile for clients, which is often rewarded by lasting, long term, mutually beneficial relationships, such as that with PCH International.
Partnering with PCH has been both inspirational and challenging. Buckley Kiely is very proud of our long-term association with PCH and the contribution we have made to their success.
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