Burger Pop-Up to Thriving Catering Business
Impact Lab experts paved a patty-flipping path to financial freedom for this “burger guy”
Romin Irani is known amongst his community as the “burger guy,” and we can vouch for him (don’t even get us started on his special sauce).
In December of 2020, Irani started Rombomb Burger, a San Diego catering business he hoped to expand into a thriving mobile burger joint.
But trying to provide for his family with a patty-flipping, burger-slinging business during a pandemic proved tricky at best. Here’s how our finance experts helped Romin add a little meat to his budding burger business.
The Problem
Irani’s vision was to use Rombomb as a means to be able to solely provide for his family, which meant he needed to increase his net profit significantly. Balancing business expansion with a well-rounded lifestyle was another pressing concern, given the demanding nature of the industry.
Where mission edge came in
We paired Irani with a finance expert who was able to evaluate his historical financials, menu pricing, costs of goods sold, and margins.
Together, Irani and our expert were able to explore various growth opportunities (including becoming a burger consultant, licensing out his special sauce, and expanding catering services). They also developed a revenue model to forecast income growth by adding more working days, and focusing on breweries and private catering.
With all that forecasting in mind, they made sure to prioritize the goal of maintaining a balanced lifestyle for Irani, so he could manage his business without burning out.
The solution
Irani and our finance expert worked on coming up with tangible numbers to support his goals.
They identified the need for an additional net profit of $3,000 to $4,000 per month to support Irani’s growing family (with a baby on the way!). They also forecasted an increase in net income from $55,000 in 2022 to $78,000 in 2023 to $97,000 in 2024 by adding more working days.
Right now, Irani is implementing the revenue model by adding more working days, especially at breweries and for private catering events. He’s focused on maintaining a balanced lifestyle while striving for gradual income growth, and he’s exploring opportunities to license out his sauce and (fingers crossed) enter the U.S. Foods and Distribution network!
With the lessons he learned from the Impact Lab, Irani will be able to make clear and informed decisions, and we can’t wait to cheer him on as he refines his financial path to support his goals.
You can see results, too
Irani’s partnership with an Impact Lab finance expert gave him a realistic and achievable path to increasing profitability for his catering business, and you can experience the same results.
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