Article by Jeffrey J. Lavelle, President + CEO, Strictly Restaurants
The holidays are finally over and 2019 is in full swing! Have you had an opportunity to review your year end performance (Profit & Loss) or (Balance Sheet) closing 2018??? At Strictly Restaurants, our clients’ books have been successfully closed for 2018, not even 5 weeks into the new year. When I say closed, I mean they have been fully reviewed by internal management and all outside CPAs.
Have yours been completed and turned over for K1’s? Are you in a position to take additional funding from a Stand by Line of Credit because your financials reflect a positive Net Operating Income (NOI)? Are you getting what you are paying for?
Here are more important questions to consider:
- Do you know what your bottom-line is?
- Are you meeting payroll obligations comfortably?
- Are your vendors taking advantage of your restaurant?
- Are you getting paid a monthly Management Fee?
- Are the monthly sales tax obligations becoming impossible to manage without cash flow?
Are you overwhelmed yet?
There are too many important questions to consider and it can be overwhelming if you do not have the proper knowledge of what your restaurant should be doing (performing) throughout any given period, including overall year end performances.
Stop stressing and reach out to Strictly Restaurants. With 6 years of proven success and devoted clients, Strictly Restaurants can help and provide answers to all your questions. Someone once asked me “Why should I hire you when I can get Chinatown Accounting for a lot less?” – well this person never opened his doors as he was only looking to save pennies and not dollars.
Don’t be penny wise and pound foolish – pick up the phone and call for a consultation and get to understand what your bottom-line and your Net Operating Income.
Working with Strictly Restaurants is like working with all the 3 of the following in one:
- Bar Rescue
- Outside CPA
- Restaurant Impossible
With over 20 years of CFO/Controller experience and 6 years of running a successful Restaurant Accounting Firm, our President and CEO Jeff Lavelle knows and understands your business’ needs. So give us a toll-free call at (844) 382-2228 or visit us at www.strictlyrestaurants.com and ask for a free consultation.
