white bowls with Korean food

Restaurant Operations And Financial Assessment For Restaurant Businesses

Restaurant owners specialize in delivering an amazing culinary experience. Since restaurants are businesses that require management, we understand that most restaurateurs come short in this aspect. Business management is a significant concern among many entrepreneurs in general. You can have the best recipe in the world but have a failed restaurant. Our business is to supplement your skillset with business intelligence.

We help you refine your idea if you are a startup. Simple things such as feasibility, cost, and market studies give entrepreneurs in the food industry sleepless nights. Thankfully, we have in-house research experts in the hospitality industry that can help you break down any research topic related to your upcoming restaurant. We have experience in modeling of new businesses.

A sound business plan can assist you when seeking funds from external sources such as banks, venture capitalists or even angel investors. We help our clients prepare a coherent strategy that supports all budgetary implications.

We also guide you through the process of financing your idea including long-term financial assessment. We understand that not every dollar out there is right for you, and that is why we guide you in picking the right business partners.

For an existing business, there are many services that we give on demand. They include:

  • Providing critical information on strategy, financial position, industry dynamics, and other functions
  • Solving complex problems within the company
  • Diagnosis and extrapolation of issues that the company envisions as problematic
  • Making recommendations and assisting in the implementation process

We understand that existing restaurants face challenges every day. We have been in the restaurant business for many years. We have done numerous restaurant operations assessment based on our experience. We know the challenges that come with launching a new recipe, opening a new location, hiring, or even choosing the right theme for your restaurant. We are the people to call whenever you have any restaurant issue.

Sometimes people aren’t sure when to seek consultancy services. Here are some of the indicators of a restaurant that needs an expert’s opinion.

  • Redundant or deteriorating revenues
  • High turnover of staff or frequent problems with human resources
  • Escalating business costs
  • Numerous customer complaints
  • Challenges with supplies
  • Excessive wastes
  • Low bookings

These are the most common indicators. However, there are other strategic reasons such as:

  • Expansion
  • Selling your restaurant
  • Acquiring an asset
  • Hiring

Restaurant consulting has proven return on investments. Do not say that your hospitality business does not need an outsider’s eye.

Here are three reasons to hire consultants for your restaurant operations assessment

Help you understand your opportunities

An outsider can help you identify some of the opportunities that you can use for strategic purposes. For example, most restaurateurs don’t realize how vital their skills are. If you are a gifted chef, that is a valuable asset that you can use for the benefit of the business. It will mean you have to focus on your skills, while you let someone else handle business operations.

Reason #1: Avoid waste and costly mistakes

Reason #2: Improve cash-flow and financial planning

Reason #3: Raise the profit ceiling of your restaurant

Diagnose and fix problems before they escalate

A restaurant operations assessment can guide you on some of the things that derail the business. It maybe employee issues or costs. Whatever the problem, we always find it and fix it for you.

To get specialist services

Not all restaurants have the luxury of hiring business experts such as financial assessment analysts or operation assessment experts. Luckily, hiring us comes with that added advantage.

Call us for a free consultation!

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