As the new year approaches, companies of all sizes and industries work diligently to finalize their budgets. However, with a recession looming over the economy, many companies are looking to cut costs wherever they can even if those cuts may affect their future profitability. Dennis Schooley, founder of cost reduction firm Schooley Mitchell, believes that there is a much better way to approach cost reduction for these businesses. By Shelby Green
As the new year approaches, companies of all sizes and industries work diligently to finalize their budgets. However, with a recession looming over the economy, many companies are looking to cut costs wherever they can even if those cuts may affect their future profitability. Dennis Schooley, founder of cost reduction firm Schooley Mitchell, believes that there is a much better way to approach cost reduction for these businesses.
“Oftentimes people will cut payroll or cut back on purchases that are important to their businesses. While that is cost cutting, it hurts future profits and negatively affects your business,” explained Schooley. “At Schooley Mitchell, we’re taking existing costs. We’re helping them reduce costs and not lose the value of service at all.”
Schooley Mitchell is the largest independent reduction firm in North America, and it has helped nearly 30,000 clients save over a combined $600 million. The company currently has 260 locations across North America and is expanding its reach through franchising. With vast experience in the industry, Schooley Mitchell offers potential franchisees a unique opportunity to join a truly recession-proof company.
“Our entire offering is about helping companies reduce their costs. We do that on a contingency. We don’t charge to do our audits or our work. This means we’re 100% elastic to economic conditions,” Schooley said. “In the 2007/2008 recession when it was very drastic, our franchisees never lost a nickel in average revenue. The same happened during the pandemic and the inflationary period.”
Franchisees are at the heart of Schooley Mitchell’s business. The company employs over 130 individuals at its corporate headquarters who are all fully dedicated to supporting franchisees through monthly webinars, specialized training and a commitment to lifelong learning.
“We just have a burning desire to continue to grow and add new categories of cost for our franchisees so there’s more opportunities to make money,” Schooley said. “We’ve got a commitment to bring on new clients so we can gather more experience which gives us more influence in negotiating with vendors. Most importantly, we’re looking to add new franchises because that provides us with more smart people who are committed to helping businesses thrive.”
Shelby Green