Ken Marquandt: Ram Jack West

Background

Founded by Ken Marquandt in 2005, Ram Jack West is a franchisee of Ram Jack specializing in foundation repair for residential and commercial properties. Based in Oregon's Willamette Valley, the company evolved out of Ken's previous work physically moving houses. Under the Ram Jack franchise, Ken's business experienced rapid growth, expanding from $400,000 in revenue in its first year to over $14 million by 2019.

"I needed a way to have greater clarity into my growth plans — my expenses, payables, all my financials."

Ken Marquandt

Owner, Ram Jack West

Problem

Despite impressive growth, Ken managed the business based on gut feelings without formal forecasting or budgeting. This approach led to challenges in managing cash flow and balancing the use of funds for equipment purchases and new staff. As the business expanded, Ken struggled to maintain his financial health, often pushing his line of credit to the limit. He needed a way to gain clarity on his financials, understand why his balance sheet seemed at odds with his profit and loss statement, and better manage his growth without further depleting his cash reserves.

Screenshot of forecast editing in LivePlan

Solution

Ken implemented LivePlan after talking with several other business owners and CFOs about tools they used to manage their business finances. He then integrated LivePlan with QuickBooks Online to get a comprehensive view of his financials. The platform allowed him to create detailed forecasts, budget effectively, and analyze cash flow. LivePlan's scenario feature became particularly valuable, helping Ken model the financial impact of taking on new jobs, adding crews, or purchasing equipment before he made decisions, instead of relying on his gut.

Outcome

Using LivePlan helped Ken transform how Ram Jack West managed its finances and growth. He was able to cut marketing expenses by roughly two-thirds without reducing revenue, which significantly improved his profit margins. LivePlan's forecasting capabilities proved crucial during the COVID-19 pandemic, helping Ken plan for uncertainty, and successfully managing his Paycheck Protection Program (PPP) loan. He credits LivePlan with achieving better cash flow management and overall financial health while continuing to grow his business. By transitioning from gut-feel management to data-driven decision-making, Ken has positioned Ram Jack West to handle both growth opportunities and unexpected challenges more effectively.