Listen, we know that restaurant owners are not accountants. They’re people from all walks of life, investors who have put a sizable amount of capital into a living business.
Another way to say this is that a restaurant owner’s biggest value isn’t his or her ability to crunch numbers – at least, debatably. That person and their team have to have a vision for how they are going to survive in the marketplace! That’s a lot more of a street-level concern than trying to parse all of the economics of pushing out plates of food, with little real-world context.
Having said that, accounting is incredibly important to the living business as it moves forward with every day, every week and every year.
Many restaurants that use our consulting services have been able to stay afloat, even in problematic situations like today’s pandemic world. Here are some of the core services that we provide to our restaurant clients that really add value and protect a business model under pressure.
Weekly Sales Numbers
How can you plan your food costs and other costs against sales if you don’t have a picture of your weekly profit?
Our sales accounting brings restaurant owners a true picture, so that they can hedge against any deficiencies, and make their costs contained within their overall budget. This is one of the biggest overall hurdles for restaurant owners who find themselves in financial hot water – so these weekly sales numbers are very important.
Some restaurant owners don’t really have a good idea of what they’re spending on labor. When you have servers and bartenders and managers and front of house and back of house staff, these types of details become hard to wrangle. With our third-party payroll services, whoever is in charge can, again, make sure that payroll is commensurate with the business budget and what comes in over time.
Food and Liquor Costs
This part of what we do is much more hands-on and intuitive.
As we go over the restaurant’s numbers, we look at food inventory and give restaurant owners a ballpark assessment of what they can plan for to stay financially solvent.
What we often find is that disorganization in inventory is costing these restaurant owners tremendous sums of money. Extra storage and perishables that have aged out of the food chain are dollars going directly into the trash bin.
With that in mind, food and liquor accounting consulting is a lifesaver for many restaurants, even those that have pretty healthy margins and may not be struggling every single day with debt collections.
Want to learn more? Call us. At Emerald Coast Restaurant Brokers and Consultants, we have your success in mind.