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Accounting for Restaurants & Cafes

Establishing and running a restaurant, bar or café is challenging. Apart from the usual small business compliance issues of GST, BAS, PAYG and superannuation you have to contend with heavy regulation including liquor licensing laws, food handling regulations and council permits. The hospitality industry is also characterised by irregular trading hours, erratic and seasonal trade, casual employees and a combination of dry and wet goods.

Thinking of Starting a Restaurant, Café or Bar?

We are a business start-up specialist and if you are looking to open a restaurant, coffee shop, café or bar there are numerous issues to consider. Over the years we have helped clients with every aspect of starting their restaurant or bar business including site selection, business structure, tax registrations, insurances, their retail lease and accounting software selection. In addition, we can assist you with preparing a business plan, payroll and HR issues plus finance applications for a shop fit out, car, van or equipment purchase. On an operational level, we understand what is required for a successful opening and we can even assist you in executing the successful launch of your restaurant, bar, café, bistro or coffee shop.

We have developed a range of spreadsheets and tools including a comprehensive start up expense checklist to help you identify every possible start up cost. This checklist is broken down into categories including leasehold improvements, IT, marketing, capital equipment, furniture & fittings, professional services, licenses and permits, initial stock and working capital. These figures then automatically feed into an integrated cash flow budget to help you identify your finance requirements and they can also tuck into your business plan.

Menu pricing is absolutely vital to the success of your café, restaurant, bar or coffee shop. We can help you do some price modelling so you know your break even point and how to maintain your profit margins when suppliers increase their prices. If you run a restaurant, café or fast food outlet in Albury or Wodonga we can help you compare your business performance against industry benchmarks so you know what is working in your business and what needs working on.

We do so much more than just tax and view the tax return as the start of the client process, not the end. We are ‘business and profit builders’ who provide strategies and solutions for business owners. We offer our restaurant and hospitality clients a range of tailored financial, tax, accounting and financial planning solutions including:

  • Start-Up Business Advice for Restaurants, Cafes, Bars and Bistros
  • Advice regarding the Purchase or Sale of your Restaurant, Café or Bar
  • Spreadsheets like the Start Up Expense Checklist & Price Calculator
  • Advice and Establishment of Your Business Structure
  • Business Registrations including ABN, TFN, GST, WorkCover etc.
  • Business Plans, Cash Flow Forecasts & Profit Projections
  • Accounting/Point Of Sale Software Selection and Training
  • Site Location and Advice Regarding your Retail Tenancy Lease
  • Preparation of Finance Applications & Bank Submissions
  • Preparation and Analysis of Financial Statements
  • Bookkeeping and Payroll Services
  • Costing of Menu and Bar Items
  • Tax Planning Strategies
  • Industry Benchmarking and KPI Management
  • Marketing Audit including an evaluation of your branding, website, brochure and menu layout plus diner trends and customer satisfaction questionnaires
  • Advice regarding Website Development, Content and SEO
  • Personal Financial Planning & Wealth Creation Strategies
  • Business & Risk Insurances
  • Vehicle, Equipment and Shop Fit Out Finance
  • Monitoring and Controlling Labour costs
  • Recession Survival Strategies
  • Business Succession Planning

We are so much more than just tax Accountants. We are business and profit builders who genuinely care about the success of your restaurant, cafe or bar. We service the needs of a number of restaurants and cafes in the Albury Wodonga region and offer you strategies to grow your business, your profits and your wealth. Over the past decade restaurants, bars and take away food shops have become a real niche within our accounting practice and if you’re looking to get your business off to a flying start or want to grow your existing business, contact us today on (02) 6021 0335.

If you're a committed and ambitious restaurant or cafe owner looking to accelerate your business success we invite you to book a free, one hour introductory consultation to discuss your business needs. You'll get practical business, tax, marketing and financial advice designed to help you build your business and grow your wealth. To book a time, call us today on (02) 6021 0335 or complete your details in the box at the top of this page.

Freedom Accounting Group - Unlock Your Potential