Beauty, Health & Wellness
Overview
Purchasing trends in the areas of beauty, health, wellness, and baby products have shown that consumers have raised their expectations and are demanding products that align with their values such as transparency, sustainability, and good-for-you, clean or natural ingredients.
Consumers have proven that they are willing to stray from the legacy brands that have ruled the shelves for years, making room for explosive growth for worthy industry players. Companies in beauty, health, and wellness aim to be agile and accessible, whether through traditional means such as retailers and trade shows or by embracing online advertising and direct-to-consumer channels.
Meeting consumer preferences has resulted in the need for raising capital, obtaining debt, analyzing costs, and significant spending on research and development. Choosing the right accounting, tax, and business advisor to help you navigate challenging issues and capitalize on opportunities that are available to you is vital to your company’s success.
Anchin has a proven track record in the consumer products space, helping our clients not only with the accounting and tax side of their business but also with advising on finance options including introductions to lenders and potential investors.
We have the experience to add meaningful value to your business, whether you are starting out or well-established, and can guide you through each stage of growth, from venture capital to private equity to an ultimate exit or succession plan.
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Tailored Services
We advise on:
- Entity Structure and Agreements
- LLC/Corporate Conversions
- Employee Compensation Plans and Retention
- Equity/Debt Raises
- Financial Projections
- Managing Supply Chain
- Sales tax consulting and other multi-state issues
- SKU Rationalization
- Succession Planning
We provide:
- Financial reporting structure
- Tax planning and advice
- Development of key performance indicators
- Exploration of bank financing
- Research and development credit assistance
- Cost-cutting strategies
- Assistance with multi-state tax matters
We deliver:
- GAAP financial statements
- Tax returns
- Due diligence services
- Audits/Reviews/Compilations
- Exit strategies
Success Story
Anchin advised a health and beauty company that was an emerging brand. Prior to engaging Anchin, the company did not have GAAP financial statements prepared. We assisted the company with the following:
- Conforming their internal financial statements to be compliant with GAAP
- Making introductions to lenders for line of credit
- Issuing GAAP reviewed financial statements and tax returns
- Consulting on sales tax issues
- Determining proper state income tax filings
- Performing a research and development tax study and obtaining tax credits to be passed through to owners
- Navigating them through the due diligence process and tax planning in connection with the sale of the company to a strategic buyer
Working with Anchin’s Beauty Group has been valuable for our business. They understand our industry and have vast experience that we are able to tap into, including international tax. They are proactive about suggesting and implementing strategies that add value, and consistently inform us about tax law changes, tax credits and estate planning opportunities.”