We have been helping restaurant owners identify and avoid financial problems within their business. Throughout our working experience within the restaurant industry, we have observed and experienced some major accounting and bookkeeping mistakes due to improper accounting controls, which have affected the profitability of the business.
Unlike many other businesses that employ in-house full- or part- time financial personnel, most restaurant owners cannot afford this luxury and, as such, spend their days jumping from one operational task to another, or relying on inexperienced employees to undertake financial accounting tasks such as the securing of delivery receipts and bills, which often end up being misplaced, resulting in the financial management of the restaurant not receiving the attention that it requires.
Due to some of these common factors, we list several financial "red flags" that hopefully can be corrected by the improved procedures or management of your existing revenues, or, at worst, by helping to quantify the additional revenues that will be required. If any of the below indicators are present in your restaurant, then these are financial "red flags" and we recommend that you address them before the financial health of your restaurant gets worse.
Operating a business has its challenges, but it's important to keep your company accounting and bookkeeping records up-to-date. It will tell you the direction your business is going.
As you grow your business, listening to feedback from your customer base is crucial. Customer experience has a domino effect. If you do it well, you will see a boost in sales.
Being flexible allows you to be a better listener to your customer base, be adaptable to change, and always be ready to embrace what’s next. This will keep you ahead of the game.
There are opportunities in every business for growth and we have a wealth of knowledge and experience from working with clients in different industries.
We will advise you on tax savings, provide cashflow forecasting to help you identify opportunities and areas to take action on quickly, free up your time, and set up KPI reporting that allows you to see how your business is performing over time, so you can make better decisions to grow your business.
"BondEsq Services has helped us streamline our accounting practices and change the financial landscape of our company."
"Thanks to BondEsq Accounting Services we now have financal data that let us control our destiny as a company."
"What truly impressed us was that they work steadily with us and point us in the right direction to secure a loan for our business."
"For us to grow to the next level, we needed to rethink our strategy and BondEsq services was instrumental in our growth and success."