Advisory Services
We are a little different from your average business advisors. We work solely with the hospitality sector and have deep roots within the industry. We also operate as a financial services business working with many of Australia's best restaurants, cafes and bars.
We provide bookkeeping, accounting and payroll solutions so that you can focus on doing what you do best...running your business.
We are specialists in selecting and implementing hospitality technology systems.
Business Financial Systems & Processes
Selecting your ‘tech stack’ can be a daunting process. Individually a decision for each piece might not seem too consequential, but taking a birds-eye view of how they all fit together and the data-flow, brings opportunities for efficiency and removing the headaches when two pieces don’t play nicely together.
We can guide and advise you on every piece from selecting banking partners, payment processors, POS systems, e-commerce solutions to accounting software and plug-ins to capture invoices, bills and receipts.
Understanding all the many inputs hospitality business use, allows us to design systems which work seamlessly together. Ultimately this means you can set-and-forget the integrations, minimise your admin and get clear concise reports to monitor your business.
Business & Financial Planning
CashFlow Forecasting, understand your position and mission. SWOT analysis Competitor analysis Business Assumptions Financial forecasting. Profit and Loss, Breakeven points
New Business Setups
Opening a hospitality business can be exciting, challenging, stressful but ultimately a very rewarding experience. It really is a multi-discipliniary business and at times you will be required to wear many hats.
The key is recognising the parts that you enjoy and are good at, and bringing in skills and experience for the areas where you need some help.
Site Selection & Lease Negotiation
While it’s important to use a solicitor to check contracts and leases, expert representation is invaluable in negotiating lease details.
We approach this area with operational industry experience and financial planning, over legal only.
We guide you through proposed leases covering, dangerous clauses, renewal periods, rental increases, outgoings and more. We will advise you on common practice and manage expectations of rent-free periods, Lessor Works & Contributions.
Is the cost of your lease sustainable , based on your businesses plan? Once that lease is signed, your options to improve this area are very limited.
The Employment Minefield
It’s a hot topic, and a complex landscape.
The dark days of hospitality employment are thankfully, largely in the past and employees are now far more aware of their rights. In the current staffing shortage, this is the time for great operators to shine.
From choosing and understanding a modern award, setting classifications for your roles and paying the correct loading and penalty rates for each shift - it’s not easy.
Labour is the largest controllable expense in the industry and it can make or break a business. We can help from a strategic, technical and practical point of view, from our unique perspective as hospitality bookkeepers and accountants with decades of operational experience to hand.
Exit Strategy and Turning around a challenging business
In an ideal world the path to exit would be written into the business plan. However if your business is not providing the income or lifestyle you had hoped for, the best advice is to start talking to advisors about your options as soon as possible.
The worst thing that can happen is an operator buries their ‘head in the sand’ making matters worse and increasing debt and liabilities.
It’s almost always not as bad as you think it is.
Our advisory team are especially experienced in preparing businesses for sale. Other options include bringing the business under management or advisory help to manage the business until end of lease.
Administration or liquidation, are not necessarily painful last resorts.