Popular perceptions of the high rate of restaurant failure (some sources put the figure at 90% in the first year) have been proven untrue. In actuality, restaurant risk of failure is closely aligned with the risk associated with all small businesses. However, restaurants do face a set of risks that is unique to its industry. Business risks inherent to a restaurant include – high levels of cash on-hand, significant employee turnover, fluctuations in the operating cycle, and difficulty obtaining capital (due to the aforementioned erroneous perceptions of failure).
At The Arrache Group, we provide outsourced accounting solutions that allow restaurant owners to minimize the risk associated with restaurant accounting and focus on what’s important to them – running their restaurant. We offer the following services specialized for the restaurant industry:
- Weekly performance Flash Reports
- Cashflow projections and budgets
- Outsourced bookkeeping and payroll
- POS system review
- P&L analysis
- Review of key financial indicators (Liquidity ratios, Profit Margin ratios, Return on Labor)