204 - Discussing a Multi-Six Figure P&L with Claire Pelletreau
On today's episode of the podcast I chat with Claire Pelletreau, Facebook and Instagram ads expert, about her company's profit report.
This episode of the Unf*ck Your Biz with Braden podcast is sponsored by The Get Paid Podcast, hosted by Claire Pelletreau. If you enjoy today's episode on profit reports, you'll love The Get Paid Podcast where Claire dives into companies' profits, income and how they run their business.
Claire's business is to help clients see a return on investment on their Facebook ads and she offers ridiculously easy trainings to set up your own Facebook ads (I can attest to this myself). She started her
Year-to-date (though the end of October as this podcast was recorded in early November) Claire's revenue was $263,000. To look at Claire's growth trajectory, the first year of her business she made $18,000 in the six months of that year she had her business. The next year she made $80,000. The year after that was between $150,000 and $200,000. The following year, in 2018, Claire's revenue was $200,000. In 2019 her revenue was $299,000. In 2020, Claire took off half the year for maternity leave and brought in $200,000 in the 6 months she was working. This year, she is at $263,000 on November 4th and does not have an end of year projection.
Claire shared that she took a month off in October and that she also had what she considered a failed mini-launch in September when she did a push for applications. The launch also came with an email sequence automation error and made Claire ask herself if she was doing the right thing with her product launch, a question I ask myself regularly during what I call the "COVID hangover year" of 2021.
The bulk of Claire's revenue comes from her signature program entitled, "The Lead Lab." In reviewing her P&L, Claire, who has an S Corp and one full time assistant on payroll, found that $68,000 was going to payroll and taxes which can sound right for some and not enough for others. Claire's total operating expenses are $167, 000, net operating profit is $86,000. Claire said she felt like her company wasn't profitable because there wasn't a lot left over after she paid herself. Bug you can't let how much money the IRS is taking from you cloud your judgement of how profitable your business is.
After doing the math, Claire is operating at about 65% profit which is really good for also having a full time team member.