Consulting Services
NEW RESTAURANTS AND/OR EXPANSION OF EXISTING BRANDS
Assist in creating proformas and development of budgets
Will the project actually be a viable one?
Teach, assist or manage a critical path leading up to the opening of the restaurant
Create a detailed road map and realistic timeline to achieve on-time openings.
Manage development and pre-opening expenses during construction to stay below budget
Costs change as projects are in motion. Continuous monitoring is critical to keep overruns to a minimum.
Manage back-office and financial reporting during the crucial first few weeks of an opening
Management must focus on the guest experience and solving operational kinks during those first few weeks. Who is watching the financials of the restaurant?
13-week analysis — track and report prime costs to achieve budgeted goals
All restaurant openings require over-staffing and possible menu changes. Managers need to rein costs in quickly to maintain high profits.
Personal cfo/controller and back-office support
Create a back-office structure that will support your company’s growth
• Review and recommend systems and accounting software to increase productivity and efficiency.
Financial review and reports — are they accurate?
• Close-out the month with timely, accurate reporting.
• Consolidate multiple units.
Manage cash-flow
• Ensure that bank accounts are reconciled to your internal books.
• Manage the timing of accounts payable and collection of receivables.
Budgeting and forecasting — what will the future bring
• Work with managers in creating achievable monthly budgets and weekly forecasts.
OPERATIONAL/FINANCIAL MANAGEMENT
Operational profit and loss cycle — be proactive, not reactive
Teach managers to produce, review and manage their operational profit and loss statements.
Develop a forecasting program to ensure that managers are positioned to achieve their forecasted profits.
Labor analysis — every minute counts
Manage overtime — conduct a daily review of actual and remaining forecasted payroll to ensure that overtime is reduced to a minimum or eliminated.
Scheduling vs. actual hours — are employees clocking-in too early or late?
Rank employees’ production vs. pay rate — are you paying more for less productivity?
Minimum staffing levels — are they ready for the slow times?
Food control — the menu is like a stock portfolio
Recipe and plate costing — know your selling costs.
Review theoretical costing and product mix — monitor costs and customers’ changing tastes.
Inventory and ordering control — chefs should order by quantity and cost.
Beverage control — the most profitable part of the business
Inventory management and control — is management watching for theft?
Review theoretical costing and product mix.
Control costs of specialty drinks.
Back office controls — managers should be with guests, not in the office all day
Streamline reporting processes and use technology to its fullest so communication to accounting is seamless with:
Accounts payable invoices.
Sales integration.
Payroll submissions.