Restaurants

Since 2011, the improving economy and rising consumer spending have led to consistent growth in restaurant spending. 

Statistics from Ohio State University state that 60 percent of restaurants close or change ownership in their first year of business, and that 80 percent fail within five years.  Research shows that these failure rates can be attributed to common, repeated factors.

  • Selecting the wrong location
  • Inconsistent customer service
  • A lack of a business plan/goal setting
  • Opening the business with low startup capital
  • Poor understanding of how labor and food costs are impacting profitability

By understanding these hurdles, we as your strategic business partner look to help you proactively navigate them, while offering traditional accounting services (bookkeeping, bill pay, tax preparation and filing). We prefer you to focus your time on the culinary and customer service tasks that will make your restaurant a staple in the community, while you become an informed decision maker.

  • Due to high failure rates in the industry, do I have partners willing to help me receive financing when needed?
  • Are my labor costs exceeding 25-35% of revenues? (industry standard)
  • Do I understand the true profitability of my menu items?
  • Do I have a monthly budget to identify cash flow trends?

Do you have Questions?

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