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Meet Rafael Ferrer of F&S Projects Corp in Weston

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Today we’d like to introduce you to Rafael Ferrer.

So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
The Company started in July 2002. At that time, business planning was a hobby, a passion, not even close to what it is right now. At that time, to think about living off doing business plans was simply a far-fetched dream. For me, the equivalent to becoming a major leaguer. I must have been the only child who dreamt about doing business plans when growing up.

The Company started selling desserts… yeap! Desserts. My “Logic” was: I like to eat, Cris – my wife likes to cook… so, what could possible go wrong?

In between delivering desserts, family, school and two jobs, I would work on the few business plans I could land my hands on. Started through immigration attorneys that required business plans for some of the work-related visa petitions. One attorney referred me to another, then another and another. Word spread out and more projects were required.

The dessert enterprise was short-lived and in mid-2004, I landed a client that needed a business plan for investment to be presented to the SBA (Small Business Administration). Once finished, it was presented and eventually, the project was approved and financed. This opened up another world. Now, it was not only about immigration, it was also about investment. One bank referred me to another, then another and another. But, despite the increasing number of projects, flow was still too inconsistent. I remember being asked about my office and I would answer that I had over 20 offices in the tri-county area (total number of Panera Breads and Starbucks I knew). And, my meetings were always very-very early in the morning or conveniently late in the afternoon.

I was still hesitant to formally start. I was always working on the side without leaving my day-job that paid the bills. Especially with two kids at around the time of the recession (2008 – 2009).

But, an entrepreneur can hold it for so long. So, in February 2010, after a lot of thought and support from my family, with $560 in the bank account, I stepped into my boss’ office at the time and resigned.

I still remember my first day as a formal “Entrepreneur”, it was a Tuesday beginning of February 2010. My first office was smaller than an old-building’s elevator shaft. The desk was so bulky and old and disproportionate that it could only fit one person sitting down at a time. A client would have to sit in the hallway and of course, the door was always open! That became my motto around the office.

Soon after opening my first official office, I realized the importance of keeping an eye on collections and accounts receivable. I am a great sales guy, but the worse collecting payment. Remember, I could do it for free! So I started recruiting and after a long process (about 2.5 minutes) I hired my first CFO that my budget could afford: Cris. My “Logic” was: I like to do business plan, Cris likes to save… so, IT WAS GREAT! From that moment on, I realized that I would not have to work anymore!

From a 30 square feet clos… sorry, “office”, we now work from a 2,670 square feet facility. F&S has grown to build an excellent team of 10 professionals and yes, Cris is still the acting CFO keeping track on internal processes, payroll and of course, Accounts Receivable. We have incorporated additional services such as business valuations, accounting, payroll for third parties, individual and corporate taxes, foreign investment fund management, corporate services assisting entrepreneurs to reach their potential and of course BUSINESS PLANNING.

Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
It hasn’t been a smooth road. Personally nor professionally. From the side of the Company. Thinking back, I guess I would say, balancing personal life and work specially considering that the CFO is your wife. Also, the different dynamics of the team. When a company is starting up and growing it is very easy to commingle personal and professional sides among the team. The problem with that is unrealistic expectations among other things. If I have to recall and single out one particular situation, I would have to say the time when almost everyone quit to team-up and start their own company directly competing against us. It did not affect us commercially, but personally was a hit.

Alright – so let’s talk business. Tell us about F&S Projects Corp – what should we know?
We are proud to provide solutions to entrepreneurs. We take care of the boring side of running a business, most of the things that no one wants to do.

Our services are structured based on the life of a business from concept to implementation and tax reporting. This includes business valuation and business planning, accounting, payroll, individual and corporate taxes and Corporate Services for licensing, permits and company registration among other things.

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