The RFM Package
Premium service at affordable rateDue to our technology and the benefits of scale we are able to offer the full premium package consisting of:
BOOKKEEPING – full cycle
ACCOUNTING – Operating procedures, reporting, financial statements, budget/forecasting and KPI’s
BUSINESS COACHING – Detailed analysis, consulting and collaboration with ownership
Fully integrated Accounting and Management Online software – includes predictive purchase ordering, inventory management, integration with POS, menu costing and much more
ALL FOR A FIXED MONTHLY COST OF $2,500
That equates to an average hourly rate for the full premium service of around $18 per hour
RFM Premium Package verses Current Market prices
Current Cost of Maintaining your Finances on the Open Market
Average cost analysisBookkeeper – between $1,500 & $2,000 per month at an average of approximately $20 per hour
Accountant – runs at an average of at least $75 per hour. Let’s assume that you use the service sparingly due to the costs. It could run you at approximately $1,000 per month
Business Coaching – this is extremely important but can be considered a luxury and should run you at approximately $1,500 per month as a minimum
Total Costs for a similar Service = approximately $4,500 per month
This doesn’t take into account the cost of additional tools maintained independently of your accounting
Current Financial Services Landscape
The Market as it is nowThe current market for restaurant financial tools and services is extremely fractured. There are a number of tools available that are used to manage a specific function – from Inventory Control, to Menu Costing, to Waste Management…the list goes on.
As stand alone functions they serve a purpose but in the long term are time consuming as they require maintenance and massaging and ultimately add to your labor costs.
POS systems have come a long way over the years, they are a great tool for sales data mining and credit card clearing – but that’s as far as it goes.
The point is – until all these tools can be incorporated into one unified system where data is entered as the business happens, they will continue to remain on the sidelines of technology.
Accounting systems such as Quickbooks, Sage, etc. are generally easy to use but are extremely limited in functionality other than maintaining your bookkeeping.
The cost of setting up a restaurant these days and operating it profitably is becoming exponentially more difficult.
Fully integrated financial accounting, tools and reporting are critical to the financial health of your business. Couple that with sound advice and direction from a financial experts adds costs to your P&L that are prohibitive.
Trying to do it yourself is a lot of added hours and frustration and ultimately restricts your ability to expand.