At first there was just a need to show everyone that impossible is nothing, that disability and the limits deriving from it are not an obstacle in making your dreams come true. Today, after numerous successes and many eye-opening failures, the brand founded by Adrian Furman has been valued at over 12 million PLN (over 3.6 million USD).
The concept of the brand Grupa AF began taking shape in 2011, but it was the period starting in January 2015, when the company was established, which turned out to be the most crucial. During these three years, the business experienced a dynamic growth and went through many changes. In 2017, the company expanded its services by turning to business consulting and establishing a subsidiary company in the USA. Consequently, three highly-specialised sub-brands were created to provide complex services in IT, marketing, and business consulting. Combining these business areas guarantees that the company can provide solutions to the most discerning clients, such as KGHM, FedEx, KS Service, Logart, 4F, MultiMedia, or Grycan.
THE NUMBERS SPEAK FOR THEMSELVES
The year 2017 was ground-breaking not only in terms of business structure, but also in terms of finance. The company’s valuation prepared by a certified valuator clearly shows that Grupa AF is doing better and better. The first two years were a period of investing in the development of our brand and workforce. In 2017, it resulted in an increase in income by 1100% in comparison to the previous year and in net income around 1.3 million PLN (over 392 thousand USD). Data analysis shows that this upward trend will continue in the coming years with a predicted 5% growth rate.
On September 30, 2017, Grupa AF was estimated at a value of 12 million PLN (over 3.6 million USD) which implies a valuation that is nine times higher than the profits in the last three quarters of the year. The value of the business is mainly comprised of intellectual capital, specialized workforce, know-how, and a program for contractors – "Business Without Barriers". Taking into consideration the level of the estimated result, we shall point out the ensuing amount of the goodwill which is determined by the previously mentioned intangible assets. Profitability of Grupa AF exceeds an average ability to generate profit of the competitors in our business. The arisen goodwill means that the real and the intellectual elements combine into income and that they significantly influence the ability to generate profit.
THE PEOPLE MAKE THE COMPANY
According to the CEO, such a great business result is largely down to the hard work of the whole team as well as to the excellent communication between the specific departments. Investing in human capital and creating a multidisciplinary group of specialists became a foundation of the company’s development. Establishing cooperation with software houses and business consulting experts played an important role as well.
From the very beginning, the establishment of Grupa AF was motivated by the idea of creating a company that is different from the others. And it worked out well. Of course, the success that we are celebrating today wouldn’t have happened without a great team of specialists. It is the experience, professionalism, and passion of my co-workers that drive the development of the company. But not only this. Determination and willingness to push past your own limits are also important. Maybe we always do more than our best because we are people with disabilities? Our services are valuable even to big businesses, and we transformed disability into our marketing advantage. We win, and this can be confirmed by our clients. Our competitors are surely beginning to feel us breathing down their necks. I’m certain that I lead the INVINCIBLES.
The chosen direction, as proven by the financial results, has undeniably led to success. More and more global and national businesses are becoming interested in working with Adrian Furman’s company, which strengthens its position in the market.
IT’S VITAL NOT TO REST ON LAURELS
The 2018 plans of Grupa AF are focused on the areas introduced in December 2017. First of all, we are going to develop our American subsidiary company, Poland IT-LAB, which offers IT outsourcing, software development, and design services. Equally important tasks include developing our consulting department as well as increasing the sale of offers connected with social reporting and preparing companies for the introduction of GDPR. The last one will be especially significant in the first half of 2018 due to a growing interest in audits and trainings that help organisations adjust to the new provisions of personal data protection.
Another important element in company’s development is its original program "Business Without Barriers", which has recently applied for reservation of its trademark in the Patent Office. Companies that join the program receive a CSR certificate which confirms their engagement in actions aiming to improve the life of people with disabilities. Integrating CSR into business allows a company to fulfil social expectations. Such companies observe a growth in their credibility and are seen in a positive light by their clients and business partners. Building good relations with a society has become one of the basic promotion tactics used by a growing number of companies.
The next strategic step will be finding an investor for 22% of shares in the company. You will be able to read more about it in the next publication where investment objectives and development opportunities will be further described.
The article was based on the 37-page report of company valuation prepared by Izabela Machate, a qualified valuator and court expert for business valuation. The report is dated December 21, 2017.