A local restaurant chain with nearly ten years of operations and a unique niche in the industry hired us to improve its tax efficiency and develop its strategy for future growth.
The client had numerous federal and sales tax compliance issues that had been neglected for too long and were creating incredible stress for the owners. The client also couldn’t prepare financials in a timely manner, which prevented any quality short- and long-term strategic planning.
The Right Solution
After quickly resolving all of the client’s tax compliance issues, we developed a solution for capturing the various financial data points that all restaurants need to understand their performance. We transitioned the client from a box of receipts and basic ledgers to a full POS integration. Our solution saved hundreds of hours on the client’s side in gathering and organizing information, and enabled them to compile quality financial data in a matter of weeks instead of months.
Above and Beyond Results
After we solidified the client’s financial reporting, we were then able to help them make strategic decisions based on the financials. We also coached the client’s leaders on how the various metrics – number of customers, average ticket per customer and food costing – relate to industry benchmarks and better facilitate proper planning.