Over the years, we have built considerable expertise in working as restaurant accountants, general hospitality accountants, auditors and tax advisors to clients in the catering industry. We have been closely involved with everything from themed restaurant groups to individual bistros and gastropubs. As expert restaurant accountants, we understand the opportunities, challenges and problems you face. And with Revenue and employment law requirements becoming increasingly stringent, it is crucial to seek the right financial advice from the outset to plan for business success and avoid costly mistakes.
Running a successful restaurant takes rather more than providing great food, fine wine, the right ambiance and that certain indefinable ‘something’. While those aspects are fundamental, it is also crucial to seek professional advice from a specialist restaurant accountant on a number of other financial issues that could make the difference between success and failure.
It is, for example, vital to establish proper control over the usage of food and more particularly your bar. This is key to ensuring that your cost in relation to your selling price delivers a healthy profit. Another potential pitfall is identifying what your margins should be and knowing how to staff your restaurant correctly. Then of course there’s the prickly subject of how to handle service charges, deciding whether to operate a tronc and if so, designing it so as not to fall foul of HM Revenue & Customs’ rules.
Get the structures in place and they will shape your financial success. And after all, who wants a restaurant that’s full every night but doesn’t deliver a profit?
Click here to read our latest blogs.
Click here to read Lubbock Fine client testimonials.