Restaurants

Restaurants

According to the National Restaurant Association, Florida has 40,000 restaurants and bars with over $42 billion in sales and over 770,000 employees -- 8.4% of total state employment. The growth prospects for the industry remain very positive, as the demands of day-to-day living impact family schedules, parents spend more time eating together and less time buying and cooking food. Off-premise restaurant sales – purchases made from restaurants but consumed elsewhere (home or office), were 37 percent of sales in 2018. Millennials spending also fuels industry growth, as they favor enjoying experiences over material purchases and seek to enjoy the latest food trends with friends.

However, restaurants operate on thin margins and with the threat of higher minimum wages and rising commodity food prices, restaurant owners and managers must determine how to compete by managing prime cost (food and labor) without compromising quality. For ongoing success, a restaurant must also have a clear picture of its financial results and future outlook in order to create positive cash flow to reinvest in technology, facilities and grow the business.

How the Florida CFO Group Can Help

We give our clients the flexibility of using us from a couple a days per month to full-time, meeting their requirements with the minimum of investment and without a long-term commitment.

Although each business faces different challenges, our partners have dealt with most of them during their 30-plus years of experience. We customize our services to deal with the unique challenges of each of our clients. Depending upon their most pressing requirements, our clients might have us focus at any given time on one or more of many areas, including:


Fractional Share (Part-Time) or Interim CFO
  • Manage Banking Relationships
  • New Financing and/or Investment
  • Upgrade Accounting Staff
  • Hire Long-term CFO
Planning, Budgeting & Modeling
  • Cash Availability Projections
  • Annual Budgets
  • Updated Forecasts
  • Strategic Plans
  • Potential Customer Profitability Projections
  • Potential Product Profitability Projections
Compensation Management
  • Commission Plans
  • Employee & Management Bonus Plans
  • Stock Option & Stock Purchase Plan Management
M&A Transactions
  • Acquisitions & Divestitures
  • M&A Due Diligence
  • Transaction Structuring
  • Acquisition Integration
Internal Reporting & Processes
  • More Accurate Financial Information
  • More Timely Financial Reports
  • Calculating Produce/Service Line Profitability
  • Calculating Customer Profitability
  • More Efficient and Effective Processes
Finance Projects
  • Business Plans
  • Change Management
  • Contract Negotiations
  • Cost-Reduction Initiatives
  • Debt Management
  • Leasing Programs

Call: 877-352-2367


Testimonial


"David came in and cleaned up the accounting department and implemented SOX compliance. He handled the accounting, finance, lending and banking. David was responsible for IT. (He was a very sharp IT guy.) David also set up their move to a new corporate headquarters and he did it under budget."
Dan Dorsch
President and CEO of Checkers Restaurants