LUCA provides tech-enabled personal teams and intuitive software to help businesses understand and operate their finances.

LUCA

LUCA is an accounting back office and CFO service for growing businesses. Our team integrates modern workflows with cloud-based accounting software to provide robust financial operations for companies looking for the most efficient way to tackle bookkeeping, accounting, compliance, and decision support needs. We work with a range of businesses, from startups to growing franchises.

Curious about our name? Its Latin etymology is "lux," meaning light. Also, Luca Pacioli was a 15th-century mathematician (and monk!) who literally wrote the book on double-entry bookkeeping. His ability to integrate ideas from a range of disciplines in philosophy, theology, engineering and mathematics helped him add significant value to the field of accounting. Merchants the world over were able to more effectively grow their businesses.

Today, we are serving business owners by applying those contributions in the quickly-evolving landscape of management and accounting technologies. Our team embodies the same spirit of innovative and integrated thinking, applied in the 21st century, for the benefit of the modern growth business.

Happy National Dog Day!

As we celebrate with our own office pups (Winston, Frankie, and Honey), let's take a deeper look at the pet industry and the growing financial impact of technology on pet ownership. The numbers tell a fascinating story and many folks may not realize the economic impact the pet industry has in the United States every year (hint: it's massive).

Market Size and Growth

The U.S. pet industry is projected to reach $80.69 billion in 2024, with expectations to grow to $103.27 billion by 2029. This growth is fueled by the increasing number of millennial pet owners and the trend of pet humanization, where pets are treated as beloved family members (Mordor Intel).

Spending Habits

Over 67% of American households own at least one pet, contributing to an annual expenditure of over $95 billion on pet-related products and services. The largest portion of this spending goes to food and treats, followed closely by veterinary care and other pet services (Petpedia).

Pet Services and E-commerce

The U.S. pet grooming and boarding industry alone was valued at $14.5 billion in 2023. With the rise of e-commerce, online sales of pet products have seen significant growth, particularly during the COVID-19 pandemic, driving a surge in convenience-driven shopping for pet owners (Hepper, The Freedonia Group).

Premium and Sustainable Products

73% of Gen Z and 68% of Millennials are willing to spend more on sustainable pet products. This shift towards premium and eco-friendly options is a clear indicator of where the industry is heading, presenting valuable opportunities for businesses in the pet sector (Petpedia).

Rise of Pet Technology

The pet tech industry is experiencing rapid growth, with the global market expected to expand from $5 billion in 2020 to nearly $20 billion by 2027. Technologies like GPS-enabled collars, which represented a $1.3 billion market in 2023, and apps for managing pet care are becoming staples for tech-savvy pet owners (Hepper, Mordor Intel, Petpedia).

Pets and The Workplace

Nearly one-third of large employers (500 or more employees) in the U.S. now offer pet insurance as part of their benefits packages. This benefit is particularly popular among Fortune 500 companies, with about 50% providing some form of pet insurance to their employees. The annual economic impact of pet insurance in the US is estimated between $720 million and $1.2 billion. This trend reflects the increasing importance of pets in employees' lives, especially after the surge in pet ownership during the pandemic. (Petguide)

#business #nationaldogday #bythenumbers

Podcast shoutout time!

On the latest episode of The Localist podcast from our friends at Infomedia, host Carrie Rollwagen sits down with owner, founder and longtime friend of LUCA Adam Hickman of Foxhound Bee Company. They tackle the highs and lows of building an E-commerce brand including educating a market, branding and content strategy, advice on tax and legal and so much more. 

Enjoy this clip where Carrie and Adam unpack the importance of having a team of advisors to guide a business through complex matters such as LLC structure, banking and business licensing, and go listen to the entire episode, out now, at https://lnkd.in/eeqUtTKB or on your favorite streaming platform.

Don't forget to visit Infomedia and Foxhound Bee Co. and give them a like and follow!

#podcasts #smallbusiness #entrepreneur

Happy National Nonprofit Day!

Did you know? 

Here are some fascinating facts and statistics about the nonprofit sector:

Economic Impact: The nonprofit sector contributed approximately $1.2 trillion to the U.S. economy in 2021, which is about 5.6% of the country’s GDP!
(source) National Center for Charitable Statistics

Employment Powerhouse: Nonprofits employ over 12.5 million people in the U.S., accounting for more than 10% of the private workforce.
(source) U.S. Bureau of Labor Statistics

Number of Organizations: There are over 1.5 million nonprofit organizations registered in the U.S., ranging from small local charities to large national institutions.
(source) National Center for Charitable Statistics

Volunteer Hours: Americans volunteer approximately 8 billion hours annually, with an estimated value of $193 billion based on the independent sector’s valuation of volunteer time.
(source) Independent Sector

Charitable Giving: In 2022, individuals, foundations, and corporations in the U.S. donated over $480 billion to nonprofit organizations.
(source) Giving USA

Nonprofit Growth: The nonprofit sector has grown steadily over the years, with a 20% increase in the number of registered nonprofits between 2010 and 2020.
(source) Urban Institute

Global Reach: Internationally, nonprofits play a critical role in development, humanitarian aid, and environmental protection, contributing billions to global causes each year.
(source) Charity Navigator

Nonprofits are the heart and soul of our communities, working tirelessly to address the most pressing issues and make a difference in the world. Thank you to all the amazing nonprofit organizations and their dedicated staff and volunteers!

#NationalNonprofitDay #nonprofit #doingthemost #community

We’re beyond excited to share that LUCA has made the Inc. 5000 list for the third year in a row!

This achievement wouldn’t be possible without our incredible team, amazing clients, and the community that supports us every day. We’re honored to be recognized alongside so many inspiring companies.

As we move forward, we remain committed to our mission of helping small businesses grow and thrive through tech-driven accounting solutions. Thank you for being a part of our journey!

#Inc5000 #Gratitude #SmallBusiness #Accounting #Growth

It's National Vinyl Record Day! While you blow the dust off your favorite album for a listen, here are some facts on vinyls by the numbers:

Resurgence in Popularity: Vinyl record sales have been experiencing a renaissance. In 2022, vinyl sales surpassed CD sales for the first time since the 1980s, with over 41 million records sold in the US alone.

Global Market Growth: The global vinyl record market was valued at around $1.3 billion in 2022 and is projected to grow at a CAGR of 9.6% from 2023 to 2030.

Record-Breaking Prices: The most expensive vinyl record ever sold is Wu-Tang Clan's "Once Upon a Time in Shaolin," which was purchased for $2 million in 2015.

Longest Album Title: The longest album title on vinyl is by Chumbawamba, with their 2008 album titled "The Boy Bands Have Won...". The full title has 865 characters!

Standard Frequency Range: Vinyl records typically have a frequency response ranging from approximately 20 Hz to 20,000 Hz (20 kHz). This range covers the full spectrum of human hearing. The high-frequency limit of 20 kHz is more theoretical, as most vinyl records do not reproduce frequencies above 15 kHz to 18 kHz with high accuracy. The quality of the turntable, cartridge, and stylus also affects the high-frequency response.

The highest-grossing vinyl record of all time, adjusted for inflation, is likely Michael Jackson's "Thriller" which has sold over 66 million copies worldwide since its release in 1982, making it one of the best-selling albums of all time across all formats, including vinyl. When adjusted for inflation, the revenue generated from "Thriller" is immense. Originally, the album's price ranged from about $8 to $10. Adjusting for inflation, this would be roughly $21 to $26 per album in today's dollars. Using the midpoint of $23.50 and multiplying by 66 million copies, "Thriller" has generated approximately $1.55 billion in revenue from vinyl sales alone, adjusted for inflation.

#funfacts #nowyouknow

Did You Know?

World economics is a fascinating topic with an endless number of statistics, variables, and trends influencing global business and markets. These impacts trickle all the way down from world economies to hyper local businesses. By the numbers, here are facts you may find interesting on a global scale. 

GDP (Gross Domestic Product)

There are 18 countries in the world with a Nominal GDP of over $1T USD. The United States is the largest ($28.78T) and the Netherlands is the smallest ($1.01T). You can find the full list on https://hubs.la/Q02Kf3330

With a land area of 16,192 square miles, the Netherlands has the highest GDP per square mile on the list at $62.38 million USD. Quite an efficient use of space!

With a population of roughly 331,000,000, the United States has the highest GDP per capita on the list at a staggering $86,930!

While global brands hold significant marketshare in these staggeringly large figures, small business have always been and will continue to be the birthplace for invention and innovative ideas that push the bounds of global economic growth.

As technology continues to redefine the capabilities of modern solutions, what other countries do you think can join the #trilliondollarclub in the next 10 years?

#economics #funfacts

Happy Monday!

Are you keeping up with all of the #Olympics action? You know we need to get a little nerdy with the numbers, so at just over a week into the games here's a quick breakdown for you. Follow live medal counts at: 

https://hubs.la/Q02K3W_Y0

Medal Distribution:

Total Medals Awarded:
391 Medals in Total
Gold: 153
Silver: 140
Bronze: 98

Top 3 Countries:
United States: 75 Medals (19 Gold, 29 Silver, 27 Bronze)
China: 52 Medals (21 Gold, 17 Silver, 14 Bronze)
France: 44 Medals (12 Gold, 14 Silver, 18 Bronze)

Most Gold Medals:
China: 21 Gold Medals

Countries with the Most Balanced Medal Distribution (Gold, Silver, and Bronze are close in numbers):
France: 12 Gold, 14 Silver, 18 Bronze
Great Britain: 10 Gold, 12 Silver, 16 Bronze

Top 10 Countries:
Combined total of 346 medals, which is approximately 88.49% of all medals awarded.

Medal Distribution Among Top 5 Countries:
United States, China, France, Great Britain, Australia: 240 Medals (61.38% of all medals awarded)

Countries with Double-Digit Medals:
9 countries: United States, China, France, Great Britain, Australia, South Korea, Japan, Italy, Canada

The 2024 #olympics are here! You can catch all the action live on #NBC. Here's a link to the full event schedule. https://hubs.la/Q02J6mlb0

Don't forget that while you watch Team USA bring home the gold, you have a partner in LUCA to help your small business get to the top of the podium. Visit https://hubs.la/Q02J6kfw0 to learn more.

#olympics #olympicschedule

Have you ever wondered where the name LUCA comes from? We have a fun and unique history rooted in the story of Italian mathematician Luca Pacioli. Here's more:

Facts: 📖
👉 Born: 1447 in Sansepolcro, Italy
👉 Profession: Mathematician and Franciscan friar
👉 Major Work: "Summa de arithmetica, geometria, proportioni et proportionalita" (1494)
👉 First description of double-entry bookkeeping (recording each transaction as a debit and credit, and introduced ledgers, journals, and balance sheets)
 
Impact: 👊
➡️ Foundation of modern accounting
➡️ Collaboration: Worked with Leonardo da Vinci
➡️ Legacy: Known as the "Father of Accounting," his principles are still used today 

#history #accounting #funfact

Today we reflect on our thankfulness for the freedoms set in motion on July 4, 1776. Many of the signers of the Declaration of Independence were entrepreneurs and businessmen themselves and had a vision for what a free America would mean for likeminded individuals for years to come. 

We hope your day is filled with rest, fun with loved ones, delicious food and exciting fireworks. 

Happy 4th of July from LUCA!

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