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Taranaki Client Profile: Aiming for success

Taranaki Client Profile: Aiming for success

From night club security worker to world renowned author, Taranaki born Nathan Foster has created a successful international company from his home in Urenui. What started as a childhood hobby is now a full time career; educating firearms users throughout the world. With years of research Nathan has documented some incredible findings in the study of bullets and is setting the standard for rifle and cartridge research. He is relied upon by millions of people, with over 100,000 new visitors to his website per month and he receives approximately 60 enquiry emails per hour.

Husband and wife team Nathan and Steph Foster formed Terminal Ballistics Research in 2007 to educate hunters and shooters of the various calibers and velocity parameters that have a massive impact on the end result of shooting. Soon after, they created a website as a platform to store the information they had gathered, giving visitors the chance to view all of their research free of charge. This was a massive decision; dedicating all of their time to something that wasn’t able to make any money but it was important to them to offer this knowledge to the hunting community as a valuable free resource.

Precision_long_RangeHowever, their online business soon grew to encompass tutorial books, hunting tutorials and rifle accurizing services, all of which were financed with a donation system on the website. Staples Rodway Accountant Robyn Smaller was able to keep track of their accounts and provided support on how to best utilise what money they had coming in to help grow the business into something more tangible.

Nathan said: “We went through a period of 7 years where we were completely broke. Robyn never judged us and nurtured us during this time. She monitored our business to ensure we didn’t end up going under and helped us navigate provisional tax periods.”

Following years of support and guidance, they finally started seeing a return on their investment and through hard work and sacrifice were making a profit.

Robyn said: “It was at this point that we had to think seriously about using Accounting software to manage their finances. We decided that Banklink would be the best option for them due to it being a very simple cashbook system that has bank feeds. They could have multiple accounts and credit card transactions coming through and it was very cost effective for them. Initially, the software was used to capture all of their transactions to make the year end accounts simpler to do in order to save time and therefore money. We held some training and before long they were doing their own monthly coding and filing GST returns. They were then able to monitor their own cashflow using the reports in Banklink.”

Today, Terminal Ballistics Research books are sold worldwide and Nathan is globally recognised as a specialist in long range shooting and Master Ballistician. He is known by his international peers as an expert in his field and has been asked to present at the SHOT Show in Las Vegas in January 2017, which Nathan describes as the “gun show mecca of the world”.

Now with money in the bank, Nathan and Steph have had to make what they call ‘adult decisions’. Robyn referred them to Staples Rodway Business Advisor and Director, Philip Macey, who has helped with those decisions and has devised a long term plan for them. Philip has advised on how to invest money, and has structured their business so that both Nathan and Steph have a steady income; a new and exciting concept for both of them.

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