Mike, Asselya, and I just returned from the annual Thomson Reuters Users’ Conference in Dallas, Texas. For those of you who are unfamiliar with Thomson, they supply our tax software, as well as our virtual File Cabinet, financial statement software, and firm management software. While we were there, we participated in various lectures, trainings, and…
I spend a lot of time comparing various supplier’ prices for the same product. Why? In this technologically advanced age, you would think restaurant owners would have the ability to gather cost-comparison information right at their fingertips. But a number of major obstacles stand in the way of casual comparison. Presently, there is…
Mike discusses how to achieve greater success by digging into the details of your business and creating a system that employees can follow.
Simple Food Costing Tool is like a heart monitor for your business. Sometimes you’re not aware of issues until it’s too late.
What do the chains know that you need to know? They know that their menu is their marketing plan. They know that their menu prices align with their cost to produce a profit.
You wouldn’t get on a plane if your weren’t comfortable that the pilot budgeted the amount of fuel needed for the trip. You wouldn’t enter into a long term lease in a strip mall for ten years
Question: I need a loan to purchase equipment and for cost to be incurred for leasehold improvements at a new location for my restaurant.
Question: How do I ensure my sales figures per my point of sale make it to the bank? Answer: It’s called internal control.
Question: Every restaurateur hides some cash from operations so why is my CPA so shocked when he learns this side of my business?
I recently was engaged to represent a restaurant owner against the Internal Revenue Service who operates five restaurants each in a separate S Corporation