SIB Fixed Cost Reduction is a privately owned business consulting firm specializing in expense auditing and fixed cost reduction. SIB was founded in 2008 and is headquartered in Charleston, South Carolina.[1]
SIB was founded in November 2008 by entrepreneur Dan Schneider during the 2008 financial crisis. SIB grew steadily with estimated revenues of $2 million in 2010 and $6 million in 2011, while continuously hiring to keep pace with growth.[1] Schneider has said that the recession played a role in SIB's successful start, since the company offered a way for other businesses to make up for lost revenue.[2]
In 2013 SIB moved to a newly renovated 10,400-square-foot headquarters building in the upper peninsula area of Charleston. This facility is expected to allow SIB to eventually grow to up to 100 employees.[3] Kevin Flounders assumed the role of CEO in March 2019 after having joined the company to lead SIB's technology and telecom practice in 2018.[4][5] SIB merged with Cost Control Associates, a utility expense management firm, in September 2020.[6][7]
SIB reviews businesses' fixed monthly costs and makes recommendations for cost savings. These include utilities, waste removal, telecom, uniform and laundry services, treasury and bank fees, and property taxes.
SIB's client base consists of businesses with multiple locations such as grocery, retail and hotel chains, auto dealerships, hospital and medical groups, banks, senior living homes, and manufacturers.
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