Weathering the Growing Pains of Restaurant Expansion
Authored by: Doug Gross – Partner, CPA, CGMA
It’s not lost on me that most local restaurants hope to grow and expand locations to share their food with more people. Yet, this journey from one spot to many can dish out more than a few surprises. That’s where MBE CPAs steps in, ready to be your trusted advisor on this adventure. Let’s brainstorm some of the challenges of restaurant expansion and how we can overcome them together.
Keeping Up those Fantastic Flavors and Smiles
So, you’ve captured hearts with your signature dishes and your staff’s sunny service. As you grow, it’s incredibly important to keep that service consistent. This is where our keen financial feedback comes into play. We carefully look at your restaurant’s finances, including the cost of food and paying your staff. This helps us find areas where you might be spending too much money. That way, you can focus on what truly matters—creating delicious food and providing an exceptional dining experience for your customers.
Balancing More Teams Under Your Roof
With growth comes the thrill of welcoming more people to your restaurant family and sometimes the headache of juggling more schedules and paychecks. That’s where we can simplify your life. We’re here with financial plans for all things staffing, from what you pay to how you train, without neglecting the need for a fair balance on the books. And payroll? We make it a breeze across all your locations, keeping you spot-on with the rules and regulations. Our close working relationship with our affiliate, Payroll Solutions, provides us with cutting-edge technology to simplify your payroll processes. The cloud-based platform offers features like automated tax filings, direct deposit, and employee self-service portals, making payroll processing more efficient and convenient for you and your employees. An added bonus is that we can create custom reports through the software that you can pull anytime!
Keeping the Dough Rolling for Your Expansion
Let’s talk money—that essential ingredient for your expansion to rise. Crafting a compelling story with numbers to attract funding is right in our wheelhouse. With precise projections, we up the ante on your funding game. But it’s not just about getting the cash; it’s about managing it wisely to maintain your locations’ strong performance and competitiveness.
Smoothing Out Supply Chain Wrinkles
A reliable supplier chain is like the backbone of your operations—keeping it healthy is key to serving up success. We can dissect order histories, costs, and margins to unearth ways to bring more to your bottom line while slicing away excess spending. Securing deals with suppliers? No sweat. We’re on your side to snag those bulk purchase rates that can make all the difference.
Adjusting to New Neighborhood Tastes
New neighborhoods, new flavors, right? Every area has its own taste, and identifying the menu items and offerings that truly appeal to local residents is more of an art than a science. But some financial know-how can go a long way. We closely examine what makes each market tick—be it the seasonal specialties or the folks around the block, we help you set goals that hit the mark and design a plan that resonates.
Every step into new territory brings a merry-go-round of rules and regulations. With MBE CPAs, you gain a distinctive advantage. Our profound understanding of restaurant industry regulations and best practices empowers you to address potential obstacles and maintain smooth operations across all your locations.
Your success is our success. At MBE CPAs, we take a personalized approach to understand your unique business goals and challenges. We provide financial solutions that empower you to confidently expand your restaurant while maintaining the highest operational efficiency and profitability standards.