“The ROI of using FocusCFO has been 10X. It really is the most valuable tool you can use as a business owner.”
– William Kerry, Owner, Kerry Brothers Truck Repair
Navigating a Changing Industry
In 2015, William Kerry decided to buy a business. He had been a successful commodities salesman, and for the next phase of his career, he set his sights on purchasing his family truck repair company that was started back in 1985.
At the time, the truck repair industry was experiencing a significant shift, as owners approached retirement and national trucking corporations encroached on smaller, family-run businesses. But Kerry was drawn to the talent on its small team and the quality of the work they could do. “It was hard to compete with what they were doing, and I really wanted to capitalize on that,” Kerry said.
Over the past decade, since he purchased the business, Kerry Brothers Truck Repair has grown roughly 30% year over year. And in the past 18 months alone, Kerry has grown his team from 20 to 70 employees.
While multiple factors have contributed to that recent exponential growth, Kerry cites one as particularly transformational: He hired a fractional CFO.
Unlocking Growth: Finding the Right Financial Expertise
The idea came during a meeting of the Entrepreneurs’ Organization (EO), where he met someone from a competing company who explained the concept of a fractional CFO. “I thought, ‘That’s a no-brainer for me,’” Kerry recalled. “We have big aspirations for growth in our space and our industry, and the idea of having somebody a day or two a week to come in and guide the ship from the most critical aspect of our business seemed like the right next step.”
He brought the idea to his CEO coach, who encouraged him to test the waters. He recommended Kerry reach out to Lesli Matukaitis, an Area President with FocusCFO in Detroit, who “blew me away,” he recalled. Matukaitis then connected Kerry with Susan Deeb, a CFO with more than 35 years of experience in finance and operations and in working closely with family businesses.
“It was a great fit,” Kerry said. “Susan has been not only a tremendous resource on the financial services side but really just a mentor for everything I do as a business owner.”
Deeb has been instrumental in Kerry Brothers’ growth strategy ever since. She has helped Kerry determine how to structure the company’s growth, and her experience has informed everything from the company’s customer relations policies to its communications strategy, as well as its implementation of EOS processes and procedures. “I can’t say strongly enough that she is a critical member of our team,” Kerry said. “She really helps guide all major decisions, as an experienced CFO would.”
10X ROI and Beyond: The True Value of a Strategic CFO Partnership
Heading into 2025, Kerry expects that Susan will remain a key member of the team, particularly as the company leans into M&A. “Susan is handling the due diligence, the projects, all the analytics, working with the CPA,” Kerry said. “I’m hands off in doing anything but the negotiations, planning the business model, and determining what the fit is. She’s really taking care of 95% of it.”
Looking back, hiring a fractional CFO was the right decision at the right time to achieve the goals Kerry has for Kerry Brothers Truck Repair.
“The ROI of using FocusCFO has been 10X,” he said. “It really is the most valuable tool you can use as a business owner.”
