With over 25 years experience in the restaurant industry as CEO, CFO and consultant I have seen it all. I have observed a common thread that leads to businesses under performing and in extreme cases to bankruptcy.
Contrary to popular belief, while achieving healthy Gross Profit margins, restaurants usually struggle to achieve more than 3% to 7% bottom line profits. This leaves very little room for management error.
Running a restaurant is a challenge in itself without still having to manage the administrative and financial side of the business which, in the cold hard light of day, is the single most important aspect of operating a successful restaurant.
You can be achieving record sales and rave customer reviews but if you are losing money from negligence, theft, over portioning, staff consumption – to name just a few – your business will struggle to survive.
We have a successful history of helping our clients achieve extraordinary financial results by bringing our extensive experience in the industry together with our unique online industry specific technology to help them manage the financial health of their business.
We fully understand our role and perform our function without any interference in the running of the business. All the basics are performed quietly behind the scenes to help deliver great results.
The old saying ‘A penny saved is a penny earned’ could never be truer when applied to the restaurant industry.
Back in the 1980’s, after completing his Articles of Clerkship at a progressive accounting firm, Glenn was head hunted as CFO by a progressive steakhouse chain.
Glenn went on to establish his own consulting firm to focus, among others, on the restaurant and hospitality industry. The business quickly grew to 30 consultants servicing SMB in the retail, wholesale, services and technology industries.
The approach was a practical application of management techniques which involved financial analysis, planning, implementation, and control of programs designed to provide automated financial data reporting for managerial decision making.
Areas of expertise included Start-ups / Financially distressed organizations / internal control procedures / Development of automated management software solutions.
Armed with the many years’ experience of manual system development, the rapid growth of the Internet allowed Glenn to develop the first completely online accounting and ERP system for restaurants.
We are dedicated to helping restaurant owners maximize profits and cash flow. This is achieved by providing accurate and timely financial information to give them a 360 degree view of the financial health of their business.
By utilizing our industry experience and fully integrated online software we establish controls and procedures to control all the key areas of the business to manage purchasing, inventory, cash, recipes, portion control, product costing and much more.