QFLOORS
The Power of Partnerships “You’re not making any money. In fact, you’re losing money.”
T
his was the difficult message Trent Ogden (now CFO of QFloors) shared with his father, Steve, more than 25 years ago. His father owned a string of
flooring stores in the intermountain west. Sales were robust, showrooms were busy, and Steve had assumed this meant he had plenty to spend on advertising and purchasing additional stock. He knew how to sell carpet, having grown
up in the business. He knew how to promote, how to install, and how to keep customers happy. He just didn’t know accounting. So he managed his business Co-founders Chad and Trent Ogden.
and made decisions by assessing his bank account balance, not by analyzing his financial statements, let alone following a long-term business plan.
But now Trent, as a 3rd generation Ogden in the flooring industry, had started
helping with the finances, newly armed with a Bachelor’s degree in Accounting and an MBA. Trent understood the importance of being able to generate (and under-
stand) monthly financial statements. He understood how essential it was to make
He understood how essential it was to make sure margins were high enough to cover costs. He understood that while flooring store owners had a lot of genius in them, most were not accounting and finance specialists.
sure margins were high enough to cover costs. He understood that while flooring store owners had a lot of genius in them, most were not accounting and finance
specialists. And he understood that flooring dealers needed a way to instantly (and accurately) see just what their business was doing, day-to-day.
“Short-sighted feelings about what to do for your business based on a bank
account balance leads to costly mistakes and unrealized potential,” according to Trent Ogden.
This was part of the impetus for Trent to put his head together with his computer
engineer brother Chad to create QFloors, a user-friendly business management software for the flooring industry. That was 22 years ago.
22 Premier Flooring Retailer | D2 | 2022
