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Tag: Success Stories

How Padgett Helped Drive Shahrukh Siddiqui’s Journey to Success

Posted on September 20, 2023 - 5:16 pm by

Shahrukh Siddiqui began his entrepreneurial journey with a Mexican restaurant in Mobile, Alabama before making the transition to managing Credit America Auto Sales. He embarked on this journey in 2019 alongside his family, aiming to offer customers quality used vehicles and an unparalleled buying experience. “While each industry has its own challenges” he says, “I chose to venture into auto sales because I was looking for something new.” It may not have been a straight path to auto sales, but the one constant across Shahrukh’s businesses was Padgett. 

Shahrukh began his relationship with Saty Putcha, owner of Padgett Mobile, nearly 25 years ago when he was establishing his restaurant in 2010. “Saty and I actually met through playing tennis together” he recalls, “Padgett helped me form the LLC, start the business, and fill out all the paperwork. They handled my payroll, corporation tax returns, and personal tax returns as well.” When he made the move to Credit America Auto Sales, he knew he needed to continue to work with Saty and Padgett Mobile. “It’s a cash intensive business” Shahrukh explains, so finding the right partner to handle his finances was crucial. 

Shahrukh admitted that the early years of a business are never easy. He was committed to providing his customers with top-notch quality and service. Whether it was assembling a dependable human resources team or ensuring that the right personnel were in place for thorough vehicle inspections, it proved to be a formidable task. That’s why continuing his relationship with Padgett felt so important. He had developed trust and a strong rapport with Saty. He emphasizes that even though Padgett serves other clients, “I still feel a personal connection with them. The team is very personable, and I value our one-on-one discussions about my business.” 

While Shahrukh has found reliability and consistency with Padgett, the journey as a small business owner hasn’t always been easy. For the first five years of running Credit America Auto Sales, he sometimes felt like he wouldn’t succeed. He spent up to 14 hours a day at work and hardly took any time off making sure his business was moving forward. His advice to other small business owners is to “keep your expenses low and, in the car business, don’t overpay for your car. Make your money when you buy the car, not when you sell the car.” He adds, “Pay attention to the interest rate you’re paying. While some interest rates may seem low, pay attention to the fees as well.”   

With Padgett at his side, Shahrukh can shift his focus from managing finances to being a strong business owner. “Padgett frees up my time to do what I like, which is buying and selling cars. Otherwise, I would be spending my time keeping my books straight if I did not have them helping me. They’re just a great bunch of people. They go above and beyond to take care of me and my business.” 

Whether you’re looking to start an LLC like Shahrukh or are looking for a reliable financial partner, Padgett’s team of experts can help you through it all. Find your local Padgett office today to get started! 

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Successful business owner “Profile”: Jarin Jaffee

Posted on October 25, 2022 - 8:15 pm by

Jarin Jaffee’s background was as an educator and administrator in private schools, but after getting involved with Profile by Sanford, he pivoted to a new way of helping people improve their lives. He joined the health and weight loss program in 2018, and in 2019, he opened the Toledo Profile location. “I lost 35 pounds, and it helped change my life, so I got involved as a business owner,” he says. “We’re now the number two Profile location in the country.”

Before opening his business, Jarin joined a Business Networking International group, where he met Tom and Amy Friedel, owners of Padgett Toledo. “I was already connected to ADP and had a bookkeeper in Nebraska through Profile, but I needed an accountant, both personal and business,” Jarin explains. “So, I started with Tom and Amy through Padgett. Eventually, I asked what it would cost to add payroll and moved that over. They’ve helped me with PPP and ERC during COVID-19, my quarterly filings, pretty much everything except bookkeeping.”

With Padgett by his side, Jarin’s Profile business quickly found success. He broke even in less than a year, in March of 2020, and maintained profitability even during the pandemic. By September, his location was in the Top 25 Profile locations nationwide before taking the first-place spot in spring 2021. Though two locations have since merged and pushed the Toledo Profile down to number 2, it remains the top-rated fitness location in Toledo and a preferred referral of many local doctors. All together, Profile Toledo members have lost about 21,000 pounds—including Tom.

“Tom actually joined our gym, and he’s one of our ten members who has lost over 100 pounds in our program,” Jarin says. “We’re proud to support him as a business owner and support his health, because as a business owner his health is not entirely his own. Tom and Amy know what I do and believe in what I do.”

In Toledo, Jarin says that relationship-based connections are key, and that makes Tom and Amy’s large network an important benefit. “He’s helped refer others to us,” Jarin says. “I’ve certainly tried to steer some people their way as well. I consider Tom and Amy a big part of our success and I’m very grateful for them. I recommend Padgett whenever I can.”

“Small business ownership is really hard, even when you’re winning,” Jarin warns. But his advice for other small business owners? “Don’t sacrifice your family and personal happiness because it ends up not being worth it. It’s important to build a team of people to support you—you need those people to help you dig out of your mistakes. Otherwise, business ownership can feel lonely.”

But between spending lots of time at home with his wife and children and working with his Padgett partners, Jarin has avoided the loneliness. “I consider Tom and Amy friends,” he says. “I love their whole staff. They’ve been very helpful beyond the typical small business accountant services.”

“The thing I value most about Padgett is the personal attention,” he adds. “I can ask Tom and Amy questions in an informal way, and they never make me feels stupid. I don’t have a background in finance or accounting, and I know I ask some ‘dumb questions’ but they never make me feel like my questions aren’t worth their time. Shelley is amazing with payroll help, answering questions from my employees. It all goes back to that level of service that’s relationship based instead of transactional.”

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