Park City Bookkeepers aims to help small businesses
October 16, 2015
Eric Wheeler knows why entrepreneurs start small businesses.
They start them because they have great ideas or because they want to share their passions. They start them because they think they have something to offer that others will value.
They don’t start them to spend hours knee-deep in a jumble of receipts, trying to figure out how, exactly, all the numbers fit together.
That’s where Wheeler comes in. He is the owner of Park City Bookkeepers, which for two years has been taking care of the accounting side of things so local entrepreneurs can focus on the rest of their businesses.
"We help overwhelmed small businesses grow and give them the ability to focus on the front end of their businesses — their sales, their marketing, their business development — while we handle all of the back end," he said. "What happens when you open a small business at first is you try to do everything. You want to be a jack-of-all-trades. But at some point, you’re being pulled in too many directions. And all too often, people start focusing on what they went into business to do and they neglect the things they have to do, like bookkeeping."
Hiring a company like Park City Bookkeepers has multiple benefits for small businesses, Wheeler said. Not only does freeing up the owner to put all of his or her focus into the front end make a business more profitable, but Park City Bookkeepers can analyze financial statements to spot any inefficiencies that are costing time or money.
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"Their business is better for it in many ways," said Wheeler, who described his company’s role as being "profit engineers" for clients.
Wheeler’s background is in business banking, where he discovered a passion for helping small businesses. So when he decided to start his own company, he knew just where he wanted to focus his attention. The only question was where he would open. And Wheeler, who had lived and worked in Salt Lake City for several years, thought his idea would be a perfect fit for Park City.
"I feel like Salt Lake is almost too big to get to know everybody," said Wheeler, who now lives in Park City. "Park City feels like a small enough community, where people are already buying local, and they’re interested in keeping it that way, that community sense. I wanted to be a part of that and serve that kind of community."
In addition to simply providing bookkeeping for small businesses, Wheeler wants to do it in a way that makes sense for his clients. Park City Bookkeepers charges a flat rate, depending on the level of service. The basic accounting package starts at $350 a month, while packages that include perks such as cash flow projections cost up to $2,000 a month.
In the company’s lineup, there’s a package that would work for most small businesses, Wheeler said.
"If you’re in business, and you’re doing around $100,000 in revenue or more, we’re going to be a good fit," he added. "Because even a part-time bookkeeper is going to be 15 hours a week, so by the time you’re done paying them, we’re one-third of the price. And we have the expertise that you’re looking for."
Two years in, Wheeler is pleased with the reputation Park City Bookkeepers has garnered in town. He said he’s also happy with the steady month-over-month- growth his company has seen, but what’s been most rewarding is watching the development of his clients’ businesses.
"The funnest part about it has been being able to watch the evolution from where these companies started with me, just six or nine months ago, to where they’re at now," he said. "One of my clients, for example, is up 300 percent in revenue. I can’t take credit for that, necessarily, but I think by us being able to focus on her back-end stuff, she’s been able to put a lot more energy into the front end.
"That’s where I think we’re setting ourselves apart. We’re not just doing those mundane tasks — we’re actually improving our clients’ businesses."
Park City Bookkeepers
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