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Financial reporting for inventory might seem like a straightforward matter – just add up all the costs to produce the inventory, right? Not quite – there’s more to it than meets the eye. Method The method of inventory costing chosen and the assumptions employed to allocate costs can have substantial impacts on financial statements. These […]

In a previous blog post we discussed the benefits that industry clustering has brought to the Maine craft brewing landscape. From knowledge spillover to increased access to suppliers, all signs point to industry clustering being a resounding benefit for an industry that’s been booming for the last decade. To illustrate this, in Maine alone, from 2007 […]

The restaurant industry is booming in Maine. Sadly, for one reason or another, not all make it. In recent news, many restaurant owners have failed to properly manage finances resulting in closing of restaurants, criminal charges, and in some cases jail time. Failure to fulfill financial obligations and subsequent bankruptcy can be avoided with proper business planning and financial management.   Keep Track! Like any other […]

There’s no doubt that national growth in craft brewing has been strong. In 1990 there were 200 craft breweries in the United States, by 2011 there were more than 2,000, and by early 2017 there were over 7,000. While national growth has been impressive, industry clusters in locations like Maine, Vermont, and Oregon have proven […]

Around the world, Maine has always been well known for being a premier summer vacation spot. The tourism industry brings in hundreds of millions each year. One vital portion of this industry is Maine’s exclusive summer camps for kids. Each year thousands of kids are dropped off by their parents from around the globe, for […]

Having a great business plan and running that business are two very different things. One important point that we like to highlight is the difference between a Bookkeeper, Controller, and Chief Financial Officer. For small and medium sized businesses, these terms can get tossed around rather loosely. At Opus Consulting Group, our consultants have experience […]

Many restaurant owners are very passionate about their restaurant and the food they serve, but have little business experience and financial knowledge. Running a restaurant can be very complicated and takes thorough research and analysis. It is very common for restaurant owners to overlook the importance of having accurate financial reporting. Like any other business, it […]

Opus Consulting Group is hearing more and more from its clients that they are having difficulty (1) finding qualified candidates for open positions and (2) retaining their best employees. High unemployment rates may be a problem in certain regions of the country and northern Maine, but southern Maine seems to have the opposite problem – […]

We have all heard the saying that “Cash is King,” and any company’s end goal is to generate cash from a core service or manufacturing of goods. The Statement of Cash Flows can be seen as the most valuable tool in assessing a company’s true health by providing insights beyond what the Profit & Loss […]

Opus is involved in a number of entrepreneurial ventures. Some start-ups succeed and many fail. What makes the difference? The conventional model for a company start-up is to have an idea and create a business plan that identifies the market opportunity and financing requirements. Recent studies have shown however that successful new companies follow a […]

The United Kingdom made history a month ago by deciding to leave the European Union, which was narrowly determined by referendum. Since then, the pound has dramatically fluctuated in value, Prime Minister David Cameron has resigned and the legal status of millions of European citizens has been complicated. The vote was fueled by growing nationalist […]

When planning your Business Exit and preparing for your lifestyle after you leave your business behind, it is extremely important to know how much of the proceeds from the sale of the  business you actually get to keep.  We at Opus Consulting Group include tax planning in our Exit Strategy Planning and would like to […]

When Bankruptcy isn’t an option After another rollercoaster of a year, I’m reflecting back on some of the insights my partners and I at Opus Consulting (previously Nucleus One) shared with the Cannabis Industry throughout the COVID-19 pandemic. One area that we’ve continued to monitor (and have recently become directly involved in) is Bankruptcy and […]

We’re debunking the outdated notion that testing in-house is an unnecessary cost for cannabis businesses. As we see it, testing is becoming a key element of cannabis business strategy. Quick overview of in-house testing benefits: Improve your understanding of internal processes, resulting in more effective and efficient SOPs Increase revenue by preventing batch failure Increase […]

Structuring Your Cannabis Business for Success The first step to starting a cannabis business is establishing a corporate structure that best fits your needs. However, selecting a structure and outlining its tax implications can be challenging and confusing. This article aims to mitigate these difficulties by providing a working knowledge of potential options in order […]

Does there seem to be lack of engagement among your employees? Are you having difficulty retaining your team members? It might be time to implement some of the following tools to improve retention and communication within your workforce. #1 Recruitment Management Software  Recruitment software can bring added value to your company allowing you to match candidates with […]

Despite a global pandemic that uprooted businesses around the world, the U.S. cannabis market showed no signs of slowing down in 2020, as we had predicted a year ago. Through lockdowns and mask mandates, the industry innovated how consumers purchase cannabis. Brands grew nationwide thanks to increased SPAC involvement and the growth and ambition of […]

The cannabis industry is evolving rapidly and so is your view of the real-estate market From coast to coast, America’s real estate markets are facing considerable shifts due to the advent of the legal cannabis industry, prompting once derelict store fronts and industrial warehouses to skyrocket in price, with competition for precious land and buildings […]

Opus Consulting Group is pleased to be working with CPB2 LLC, for whom we provide financial management and consulting services. The 58 Fore Street property is clearly a critical element of Portland’s waterfront. CPB2’s vision is to see this 10 acre property reach its full potential as a revitalized waterfront neighborhood with a vibrant and diverse mix […]

Opus Consulting Group is excited to part of a new development project in Portland. The Press Hotel is opening in the Old Port at 119 Exchange Street this spring. We have been working closely with The Press Hotel development team to assist in budget management and financial accounting. We have supported the project from the beginning […]

Northeast Technical Institute is a nationally certified, technical school offering short term; industry focused training programs to local Maine students. Northeast Technical Institute chose Opus Consulting Group to offer management consulting services in the areas of executive management and financial planning.  Opus Consulting Group is honored to collaborate with Northeast Technical Institute and have a […]

Opus Consulting Group celebrates its 10-year Anniversary The Maine-based business management group supports businesses in New England and beyond by providing specialized performance and growth strategies.     Portland, Maine – (April 22, 2019): Opus Consulting Group, a business management consulting firm specializing in performance management, celebrates its 10-year Anniversary with a series of events to […]

Opus Consulting Group was recently a sponsor of Startup Maine 2018. Startup Maine took place at the Maine College of Art in Portland from June 21-23. The three exciting days of events featured a variety of workshops, case studies, and networking events to highlight and help Maine startups with the tools and networks they need […]

Featured in MaineBiz, our client Elsmere BBQ is making headlines with a second BBQ joint opening in the Portland Deering Center neighborhood later this spring. Our friends Adam Powers and Jeremy Rush say, “We have a bit of a different business model than a lot of the restaurants around here, because were not tourist-oriented, we’re […]

Featured in a Portland Press Herald article from October of 2017, our client Zombait “puts the wiggle back in dead bait fish”. Zombait is a fishing lure to be inserted into a bait fish that makes to wiggle and move like it’s alive. Fisherman turned entrepreneur Rink Varian dreamed up the idea and is now […]

Our client MaineSole, from Dexter ME, is featured in Bloomberg Businessweek and Bangor Daily News. MaineSole is bringing handcrafted shoemaking and jobs back into the Maine economy. Contact us for more information. $325 loafers could bring shoe manufacturing back to Maine https://www.bloomberg.com/news/articles/2017-06-13/after-rare-buffett-misstep-a-maine-shoe-town-tries-to-rebuild

Opus Consulting Group is proud to have been apart of the new hot spot in town-Elsmere BBQ & Wood Grill.  The owners Adam Powers and Jeremy Rush, approached Opus last year in August 2012 with their dream of operating their own establishment. Opus Consulting Group assisted the team with the initial business plan and financial […]

The Turnaround Management Association of Maine presents Your Business Future: Strategies to Accelerate Growth & Maximize Value on Wednesday, November 9th from 11:30am-1:00pm. This panel of professionals will provide insights and strategies for business owners seeking to take the next step in their corporate renewal. What are the keys to your business success? Aligning your […]

The Maine chapter of the Turnaround Management Association is hosting an event with Senator Angus King in Portland, ME on Friday September 23, 2016. The Opus Consulting team is part of TMA-ME and is glad to participate to this event. Join us for an intimate conversation with Senator King to hear about what’s going on […]

Episodes 5 of Re-Invent Videocast with Don Martelli of the Belfort Group and our president Jacques Santucci features Eric Shooman, founder of Stint, and discusses how his firm created a job search CRM in response to COVID-19. Topics discussed in this week’s episode include: Job search steps and tools Stint, a free tool to help job seekers track their applications and manage […]

Episodes 4 of Re-Invent Videocast with Don Martelli of the Belfort Group and our president Jacques Santucci features Renaud Megard, CEO of Nameplates for Industry, and discusses how his firm used COVID-19 as an opportunity to innovate into new products and markets. Topics discussed in this week’s episode include: Safety measures to maintain production Social distancing Temperature checks Cleaning procedures Remote working Innovating […]

Episodes 3 of Re-Invent Videocast with Don Martelli of the Belfort Group and our president Jacques Santucci features John Lawlor, COO of Maugel Architects, and discusses how his firm has adapted to the disruption of COVID-19, tips for managing staff expectations about work, and how he expects business to evolve in the future. Topics discussed in this week’s […]

Episodes 1 of Re-Invent Videocast is out! Re-Invent Videocast is made in partnership with the Belfort Group and presented by Don Martelli and our president Jacques Santucci. This week’s episode features Scott Moskol of Burns and Levinson and covers the broad impact of COVID-19 on his company and other industries, as well as how they are adapting. Our speakers discussed the current and potential […]

Episodes 2 of Re-Invent Videocast with Don Martelli of the Belfort Group and our president Jacques Santucci features Jim Chalmers of Chalmers Insurance Group and covers company culture, customer relations, how to adapt to COVID-19, and how to help your company thrive long-term. Topics discussed in this week’s episode include: The useful role of technology in successful adaptation Online meetings  Cloud-based […]

On April 22nd, Opus Consulting Group hosted a webinar in partnership with the American Camp Association, New England to discuss the critical aspects and steps that summer camp businesses can take to safeguard their cash and protect assets during the COVID-19 pandemic. Our webinar covers key elements to consider in the preservation and turnaround of […]

Opus Consulting Group hosted a webinar in partnership with the law firm Murray Plumb & Murray to discuss the critical aspects and steps to safeguard the cash in your business, protect your assets during the COVID-19 pandemic. As Congress just approved an unprecendented $2 trillion relief plan, the bill includes $367 billion in loans to […]

Opus Consulting Group hosted a webinar to discuss financial contingency planning and we thank all who participated and joined us. We presented a contingency planning framework and focused on financial stress testing. Participants gained insights into the contingency planning process to develop ideas for their business and identify the next steps forward. You can watch […]

Andrew Wood interviewed with Matty B and Justin Starbird on the Proven Profitable segment. Justin Starbird is the CEO with the Aebli Group, a full-service marketing firm in Maine which is driving this year’s Maine Business Expo. Check out our podcast to learn more about the Opus team and our cross-functional approach to solving our client’s problems […]

This past week, Maine Governor Janet Mills released a plan to avoid taxing Paycheck Protection Program (PPP) loans, an option that was previously considered by the Mill’s administration.  Mill’s original budget called for taxing the forgivable loans to make up for a $100 million shortfall in the state’s budget. While forgivable loans are normally taxed […]

Many businesses, after undergoing radical change, are now forced to adapt to the New Normal. Opus Consulting helps clients during periods of transition, and our webinar will focus on changes to the digital strategy post lockdown. Panelists of this discussion are Rich Brooks of flyte new media, who talks about his experience as a digital […]

The Institute for Family-Owned Business sponsored a webinar put on by Opus Consulting Group and Chalmers Insurance Group to bring together helpful steps to take to reopen businesses Post COVID-19. We thank all who participated and joined us. The webinar discusses the path to recovery for businesses in the short term, but also outlines the […]

On March 27th, 2020 the Coronavirus Aid, Relief & Economic Security (CARES) Act was signed into law, providing $2.2bn in emergency aid. More specifically, $349bn of these funds will provide critical relief to small businesses. The CARES Act includes multiple small business loan programs: the Paycheck Protection Program (PPP), which includes a loan forgiveness provision, […]

On top of our business resources, Opus Consulting Group has put together this list of resources that may assist you and your employees through the COVID-19 Pandemic. We will continue to update this blog post on a regular basis. Please contact us if you have any questions. WORKER COMPENSATION ASSISTANCE: Waiting periods have been waived […]