"I think first and foremost I've been able to grow my business a lot faster. If I were bogged down by everything that it takes to be able to run our books, that would have prohibited me from doing all the things that we needed to do to be able to grow our top line sales and become a profitable business."
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Finances Before
Finances with Hiline
About Catapult
Founded in 2021 by Jake Schostak, Catapult is an innovative online-only restaurant company that helps restaurants across the United States increase their online ordering sales through virtual brands. With Catapult’s portfolio of delivery-only restaurant brands, any commercial kitchen can leverage its station-ready kits. These independent partner restaurants then prepare quality recipes that get delivered to your doorstep. While the company has grown to include four internal employees and a handful of contractors, the team is still in its lean and mean startup phase, when financial support is needed most.
The Challenge
As a first-time, solo founder, Jake quickly realized that running a startup required intensive accounting work. Without dedicated financial expertise on the team, managing the books while trying to grow the business became overwhelming.
Jake was faced with:
- Building financial infrastructure from scratch
- Managing intensive accounting requirements
- Balancing cost considerations with the need for professional financial management
- Creating investor-ready reporting systems
- Ensuring tax compliance while focusing on business growth
Jake needed a trusted financial resource to establish proper financial operations and standard operating procedures.
The Solution
Hiline implemented a comprehensive financial management solution tailored to Catapult's needs that included:
1. Professional Financial Infrastructure
Hiline built robust financial systems and procedures specifically tailored to Catapult’s business, creating a foundation that could scale with Catapult's growth. This included:
- Setting up efficient bookkeeping processes
- Creating standardized financial reporting templates
- Implementing financial controls and procedures
- Establishing clear financial documentation protocols
2. Tax Compliance Management
The team took complete ownership of Catapult's tax obligations:
- Managing all tax filing requirements
- Ensuring compliance with state and federal regulations
- Providing expert guidance on tax-related decisions
- Maintaining proper documentation for audit readiness
3. Investor-Ready Financial Reporting
Hiline developed comprehensive reporting systems that:
- Generate professional, detailed financial statements
- Create customized reports for different stakeholders
- Provide real-time access to financial metrics
- Include analysis and insights for informed decision-making
4. Scalable Service Model
Understanding Catapult's startup nature, Hiline provided:
- Flexible service packages that could grow with the business
- Access to senior financial expertise without the full-time cost
- Ability to adjust services based on business needs
- Cost-effective solutions that preserved capital for growth
The Results
Partnering with Hiline transformed Catapult's financial operations and enabled significant business growth. By freeing Jake from financial administration, Hiline enabled him to:
- Focus 100% on core business development and sales growth
- Make faster decisions backed by accurate financial data
- Have more time for strategic planning and execution
- Built credibility with potential partners and stakeholders
How Hiline Can Build Your Startup's Financial Operations
“You're not going to be able to do it on your own... I know that if I didn't have Hiline, my odds of being successful or getting to where we are today would have been [significantly lower]. I wouldn't be able to do it without Hiline. Really being able to have somebody who can be a trusted financial resource was the most important decision I could have made from the beginning.”
Are you a founder looking to build a solid financial foundation for your startup? Hiline offers flexible, professional financial services tailored to growing businesses. From establishing basic financial infrastructure to providing sophisticated investor reporting, we can help you build and scale your business the right way.
Set up a time to chat with one of our financial experts today to learn how we can help you build a strong financial foundation for your startup's success.
