From Financial Fog to Profitability: Plastic Bag Partners See 71% Rise in Net Profit
Updated November 28, 2023.
Frank Schiebler is a dedicated entrepreneur leading two thriving eCommerce businesses.
With Well Care Botanicals, he has spent the last three years providing consumers with high-quality hemp extract products, crafted under a doctor's expertise.
Simultaneously, with over a decade in the game, his venture Plastic Bag Partners distributes top-notch poly products to businesses nationwide.
Between managing these businesses, Frank struggled to gain financial insights to improve his overall business health.
"Since 2011, I’ve been trying to find a reporting software that allows me to bring in all my costs," Frank, Schiebler Founder.
From 7% in Net Profit Margin to 12%
Using BeProfit, Frank's managed to increase Plastic Bag Partners' net profit margin by 71%.
How did he do it?
While sales and cost of goods are straightforward to calculate, the real task lay in accounting for everything - from marketing, Frank’s biggest expense, to daily operations.
This limited visibility of their net true profit, after deducting all their expenses, led him to overshoot on advertising expenses, mistakingly thinking they were securing a good return. As a result, they ended one year in the negative. Determined to avoid a repeat of this setback, Frank searched for a solution that would provide full clarity on profits.
BeProfit Dashboard The screen is just an example
The screen is just an example
Implementing Integrated, Comprehensive Financial Reporting
BeProfit became the solution Frank visits on a daily basis, offering him critical insights into profits and ensuring every move he makes brings him closer to healthier business management.
Getting started with Well Care Botanicals was a breeze for Frank: "I was up and running in just 20 minutes." However, integrating Plastic Bag Partners, which had 11 years of data, was more complex. But with support from BeProfit’s team, Frank was able to access insights from the very first day in business.
All-in-One Financial Reporting Solution
Frank was constantly shifting between platforms – Google Ads, Shopify, and Google Analytics. This not only was time-consuming but also posed challenges in retaining data across platforms. BeProfit streamlined this, to a unified dashboard for all crucial metrics.
For the first time, Frank was able to look at one platform and have all the information he needed. Being able to see the entire financial picture, especially marketing costs, became a game-changer.
Reducing Expenses and Eliminating Money Waste
With a clearer, consolidated view, Frank identified the most profitable strategies in Google advertising, ensuring he gained the most from every advertising dollar.
"BeProfit tells me if I’m spending too much, and basically if my marketing is working or not."
Marketing Analytics
The screen is just an example
Screen is just an example