The allure of running your own restaurant can be overwhelming for some people. However, dreams of riches are soon tempered by the realization that running a successful restaurant business is hard. So many talents are needed from creative skills such as decorating the space to hard-headed skills such as portion control and menu-costing.
From the smallest bistro to the largest restaurant chain, owners need to understand how and when they make money, what promotions work for them and how to constantly monitor their breakeven turnover levels.
We blend the talents, skills and experience of accountants with experience of the hospitality trade, tax professionals constantly on the lookout for tax minimization strategies and bookkeepers who can speedily and accurately compile your financial information.
We offer the following services to restaurant operators:
- Startup business assistance, such as business plans, accounting system set up, systems controls set up, menus costing, point of sales, etc
- Benchmarking studies, strategic planning and other advisory services for enhancing your bottom line
- Securing financing through preparing and representing your financial status to landlords, lenders and franchisors in the most favorable light possible.
- Full offsite or on-site bookkeeping solution using software which is easy for you to understand and use
- Full payroll bureau including information on pay rates and allowances – we have also partnered with Peninsula Business Services for HR support. Click <<here>> - this should link to page 13 to get more details of our payroll bureau
- Monthly, Quarterly or Biannual management accounts if necessary
- Full VAT service
- Advice on incorporating your business and the tax advantages this can bring
- Year-end accounts for your sole tradership. Click <<here>> - this should link to page 15 for more information on our services to sole traders
- Preparation of Audit or Audit Exempt financial statements if your business is already incorporated. Click <<here>> - this should link to page 6 for more information on our audit services or <<here>> - this should link to page 9 if your business qualifies as audit exempt.
- Advice on calculating your breakeven turnover and periodic monitoring of same
- Helping you get ready to buy, sell, merge, or pass your business on by doing a valuation that shows you what your business is worth, and/or being part of your merger/acquisition team.
- Helping you take care of your retirement, from succession and financial planning/wealth management to finding buyers.
- Lease structure & negotiations including payment of tenant improvements, base versus a percentage of sales, what to exclude from sales, and more.
We operate on the basis of agreeing a fixed fee with you at the outset which means there will be no nasty surprises during the year. We will also discuss our findings with you in plain English rather than accountancy jargon.
Our restaurant business operates nationwide with clients in all four provinces.
We are happy to supply references for you to independently investigate and discover the difference we bring.
If you would like more detailed information on how we can help your pub business please contact:
Patrick O’Hare
Tel: 046 943 7900
Mob: 086 608 8869
Email: pohare@ohd.ie
Got Questions - Ask us HERE