Discover our latest client case study with MGM Facility Management.
Introducing MGM Facility Management and Founder, Darren Woodward
MGM Facility Management, led by Darren Woodward, is an Australian company specialising in commercial cleaning and facility management.
Like all Australian businesses Darren has tried his best at navigating financial challenges throughout recent years. With increasing expenses, the continued impact of COVID, and the unpredictability caused by versatile markets, MGM alike needed help stabilising their financial circumstances by reducing the impact of delayed and unpaid invoices.
After troubling experiences with less favourable financial solutions and alternatives, Darren ended up partnering with us in July of 2024 and now just 2 months later, Darren celebrates a thriving financial solution that has enabled smooth operations, reduces stress, and opened up the opportunity for company growth if desired.
Competitive Markets and Financial Hurdles
With over 19 years in the industry and 8.5 years running his own business, Darren has developed a keen understanding of the operational and financial challenges that can arise in a competitive market. Darren explains, “The cleaning industry is fiercely competitive and can be quite cutthroat. It often feels like a seven-year cycle where new companies come in, driving prices down without regard for quality. Staying ahead means not only providing exceptional service but also navigating the financial pressures that come with delayed payments and tight margins”.
The Problems Prior to Invoice Financing
Before partnering with Brunswick, MGM Facility Management faced multiple financial challenges:
-
Delayed Payments: The nature of the cleaning industry often involves long payment cycles. Darren shared, “Our contracts have 30 days payment terms upon completion which leaves us carrying the operations costs for way too long. Delayed payments used to make it really hard for us to keep up with operations”.
-
Inexperienced Financial Management: Darren’s experience with other financing companies was less than satisfactory. “The first financial solution I ventured into was an absolute nightmare. It was a very hard road, too much work and not enough support which didn’t help my business” he recalled.
- Market Competitiveness: The cleaning industry is a fiercely competitive field, so having a healthy cash flow is extremely important. Prior to invoice financing Darren was battling competition and cash flow stress all at the same time.
The Solution of Invoice Financing
The partnership with us and our invoice financing solutions proved to be a turning point for the MGM Facility Management group. Here’s how we addressed Darren's challenges:
-
Tailored Financial Solutions: We provided essential funding that enabled MGM to stabilise operations. Darren stated, “Brunswick has helped us, backed us 300% on what we're doing, making sure we had the right funding for setting things up efficiently and effectively”.
-
Transparent Communication: Darren highlighted the importance of our team and the added benefit of our experience and transparent communication. “Sarah has been absolutely amazing with her knowledge and support. She explains everything to the final dollar, so there’s no grey area,” he said.
-
Efficient Invoice Management: By utilising our services, MGM could manage its cash flow more effectively. “I used to have to ask for everything; now, I don’t have to ask for anything. It’s easy,” Darren remarked. Our team takes pride in ensuring everything is completed to the highest standards, which was highlighted by Darren, “I can honestly say there hasn’t been a single mistake made by Brunswick. Their attention to detail and commitment to our needs have been nothing short of exceptional”.
- Operational Support: Our guidance has helped Darren navigate complex financial situations. “Brunswick wanted to help our business and was there to help us grow. It’s about looking at Brunswick as an operational support base that will help you grow with all their financial support and business expertise.” Darren explained.
The Outcome of our Partnership
Since working with us, MGM Facility Management has experienced a notable improvement in its operations and financial health:
-
Stabilised Cash Flow: “The immediate access to funds allows my company to smoothly maintain operations without the constant worry of delayed payments.” Darren shared.
-
Enhanced Client Relationships: With a more robust financial structure, Darren can prioritise service delivery, ensuring customer satisfaction.
-
Potential for Growth: Darren acknowledged that, “Brunswick has given me the opportunity to scale bigger if I want to”. With invoice financing the immediate access to cash enables the opportunity to invest in new growth ventures and tools so business owners can take the first steps in scaling their business.
-
Confidence from Financial Security: Darren shared that he is “happy to still be in business” and that one of the main reasons for this is the ease and security our invoice financing provides Darren and his team.
Darren’s Recommendation
Darren highly recommends leveraging our financial services to other businesses facing similar challenges. “The support is invaluable,” he said. Darren emphasises the importance of evaluating operations and utilising cash flow effectively. “Brunswick can fund your invoicing, however, it’s not just about invoice financing; it’s about operational support that helps you grow”. Darren continued to share “Brunswick has changed how I view cash flow management and the importance of having a solid partner in your corner - If you want a partner who genuinely understands your business and supports your growth, Brunswick is the way to go”. Our expertise throughout the past 27 years makes us the most knowledgeable and efficient financial team to partner with, as emphasised made by Darren “Brunswick’s team is dedicated and knowledgeable, making the whole process seamless”.
Thinking About Invoice Financing?
If you're a small to medium-sized business grappling with cash flow management issues like MGM Facility Management, we invite you to explore our tailored financial solutions. Contact us today for a free consultation and discover how we can help streamline your operations, enhance client relationships, and support your business growth objectives.