Jeff Garcia, CPA Helping Plan Your Restaurant’s Future
Let Jeff Garcia CPA assist you with your 3-4 year financial business plan for your restaurant.
Successful restaurant owners tend to have a good idea what they want their restaurant to evolve into over the long term. From simple tweaks to the business such as menu changes to major modifications such as renovations or entire concept changes most restaurant owners have a vision for their company. What most restaurant owners don’t have is a financial business plan to accomplish their vision. Three to four year planning is one of the many restaurant accounting services Jeff Garcia, CPA offers.
Understanding the financial needs and impact of the vision for a restaurant requires good restaurant accounting in order to build a solid three to four year business plan. A solid plan should contemplate not only the vision of the owner but potential growth opportunities for the business as well as potential pitfalls that may cause business to decline. The plan should have ideas for ways to invest in the business to promote further growth should business levels provide enough for investment as well as ideas for handling sustained periods of business decline.
Another benefit of developing a plan is that a well thought out plan can answer the question, “What is my restaurant worth?” This can be very important information if a restaurant owner needs help financing a purchase, obtaining a loan for expansion or even opening a line of credit for working capital. Banks, leasing companies and other lending institutions require that type of information simply to apply for financing. Answering the question, “What is my restaurant worth”, with a full three to four year business plan will help any restaurant owner make a very good impression.
It is never too late to develop a good three to four year business plan. Some restaurant owners have been lucky enough to be successful without ever having a proper plan. However, they are the exception to the rule. Even a restaurant owner who has been in business for several years will benefit from not only having a plan but the process of developing that plan.
Financial business plans are a road map for any restaurant owner to follow through good times and bad. In order for any business owner to be able to plan for the future it is important for them to understand the past. Without good restaurant accounting it is impossible to understand the past. Jeff Garcia, CPA offers great restaurant accounting services that can help any restaurant owner create three to four year business plans to help them successfully navigate the future.
If you have a question related to restaurant accounting or need assistance developing a three to four year business plan, please call us Toll Free at (888) 933-food(3663) or (713) 621-1142. Contact Jeff Garcia CPA today.