Hello! My name is Zachary, and I started this blog because I believe that restaurateurs and their teams should not be overwhelmed by the world of finances and accounting. To win in a world where the success rate is less than 10%, anything to help you get ahead of the competition is invaluable (and exactly why I started this blog).
Often times, restaurateurs and their teams simply do not have the basic tools or understanding to conquer the world of finance. If you’re reading this, you’ve probably experienced:
- Inaccurate financials.
- No financial reporting.
- Unknown operating margins.
- Wishing you a better understanding of how your restaurant, bar or cafe should be performing.
- Overdue payables.
- Out of date tax returns.
- Mounting business losses.
- So much more, but I cover it all here.
I feel your pain, and as a former restaurant group CFO, professional consultant and author of one of the top restaurant accounting books, I’ve learned a few things over the years about:
- How to solve restaurant accounting and finance problems in a simple and concise format.
- What software and services are cost-effective and essential.
- Cheap, simple and DIY ‘finance hacks’ to help keep your books in order and expand your businesses working capital (that’s right I help you make more money here too).
WHY IS THIS STUFF IMPORTANT?
Because, whether we like it or not, our restaurants, bars, and cafes are our livelihood. Our sales, cost, margins, profit, and business all impact our lives and loved ones. Isn’t it time we got our business in order and subsequently our lives?
Fortunately, we can control most of these things. We can choose what accounting software we use. We can create systems to properly record income and track expenses. We can practice good financial literacy, make better decisions and become better operators. We can choose to be better executors of our mission and goals.
Of course, there are certain inescapable limitations when it comes to the way we look. You can improve your menu, but you can’t actually improve the location of your restaurant (AKA why foot traffic is important). You can generate accurate financial reports, budget for the future and make decisions off of that.
And, alas, we cannot change where we are in our business.
We can send humans into space and run miles in under 3 minutes, but cannot fast forward time (not yet at least).
SO WHAT ARE US RESTAURANT OWNERS AND OPERATORS TO DO?
Are we to spend our lives wishing it was tomorrow? That our business was magically fixed! Should we settle for things being as they are, losing money, bad margins, unhappy staff, etc. Are we to actually believe that success and financial freedom are designed only for the bar owner down the road?
No way! Instead, we will do everything we can to level the playing field and live our lives to the fullest. We will work to abandon any lingering notions of not understanding. We will respond to the thoughts of I can’t and respond with I will.
And we will have fun doing it (yes that’s right, accounting can be fun).
This website was created for all of the restaurant, bar and cafe owners out there who just need some great advice. All of your questions about accounting, finance, working capital, margins, and business success will be answered here. And if you just want some inspiration, I’ve got you covered.
P.S. If you are curious, here is a post about How to Start an Accounting or Finance Blog