Our Services Cater To Your Needs
This is a solution for companies that don't need a full time CFO, but require the skill set of an experienced restaurant industry CFO. Our partner will work as an employee of your company in your office a dictated number of days per week or month. Best of all, we can adjust our time at your company in accordance with the increased or reduced demands that your business places on our time.It is a perfect answer to the needs of emerging growth restaurant companies that require CFO competencies to assist in the development of a strong foundation from which to build a successful company. We can assist early stage growth companies with the following functions and many more:
- Identifying and securing financing or equity capital
- Developing strong internal controls
- Building a solid accounting and administrative staff
- Selecting industry leading software and systems
- Implementing strategic planning and budgeting plans
- Developing a sophisticated reporting system for monthly financial reports and customized operating reports
- Identifying and utilizing low cost service and product vendors
- Establishing location appropriate regulatory policies, reporting, and oversight
- Overseeing or performing the controllership function
- Development of cash flow tracking and forecasting systems
How Can this help my bottom line?
Some efforts show up immediately to the bottom line, others prevent unnecessary expenses from happening, and some create positive long-term benefits. Listed below are a few examples of how we can help your bottom line:
Immediate Impact
Prevention of unnecessary expenses
Positive long-term benefits
Immediate Impact
- Securing better rates on company debt
- Reengineering of document workflow to allow for less staffing or the redirection of staff time to projects that can create further benefits
- Savings of up to 10% of the cost of food and beverage product purchases for multi-unit or high volume locations by utilizing Restaurant CFO Partners' order guide program, which compares multiple vendor pricing and provides a weekly listing of the lowest cost provider of specified food and beverage products
- Cheaper product and service vendor sourcing by utilizing discounts with Restaurant CFO approved vendors
- Establishing comparative financial reports incorporating detail budgets that allow for clear analysis of items with negative variances
Prevention of unnecessary expenses
- Prevention of theft and inefficiencies by establishing strong internal controls and monitoring their compliance
- Prevention of costly deficiencies discovered during sales and liquor tax audits, wage and hour audits, EEOC litigation, etc.
Positive long-term benefits
- Structuring company equity to minimize capital dilution
- Selection of software and systems that are intuitive and require less training time, are more efficient to operate, and have the least amount of maintenance
- Developing a solid strategic plan that ensures that your company grows in accordance with the financial and human capital available
- Developing a sophisticated reporting system for both monthly financial reports and more frequent operating reports that provide succinct, timely, and useful information
Part Time CFO
This is a solution for companies that don't need a full time CFO, but require the skill set of an experienced restaurant industry CFO. Our partner will work as an employee of your company in your office a dictated number of days per week or month. Best of all, we can adjust our time at your company in accordance with the increased or reduced demands that your business places on our time.It is a perfect answer to the needs of emerging growth restaurant companies that require CFO competencies to assist in the development of a strong foundation from which to build a successful company. We can assist early stage growth companies with the following functions and many more:
- Identifying and securing financing or equity capital
- Developing strong internal controls
- Building a solid accounting and administrative staff
- Selecting industry leading software and systems
- Implementing strategic planning and budgeting plans
- Developing a sophisticated reporting system for monthly financial reports and customized operating reports
- Identifying and utilizing low cost service and product vendors
- Establishing location appropriate regulatory policies, reporting, and oversight
- Overseeing or performing the controllership function
- Development of cash flow tracking and forecasting systems
Interim CFO |
During times of turnover or absences of your current CFO or Controller, we can provide immediate interim assistance so that your company doesn't miss a step. No matter if it's for five days or for five months, our partner will be there until your employee comes back or a new employee is hired. If needed, we can even assist your company to secure a replacement and provide training and transitional support after they arrive, thus ensuring a smooth and successful executive transition.
For public companies or companies preparing for a public offering or other financing transaction, we have the experience to ensure that your company is in strict compliance with GAAP and all SEC reporting requirements.
We can also assist companies confronted with sudden financial and operational challenges brought on by an acquisition, rapid unit growth, liquidity problems, or other specific events. In these events, our experience will help you navigate through these challenges and determine the appropriate solution. If your company requires reorganization, restructuring, or bankruptcy, we can assist you by quarterbacking the restructuring process, selecting the appropriate legal counsel, preparing schedules, and working with your financial partners and institutions.
For public companies or companies preparing for a public offering or other financing transaction, we have the experience to ensure that your company is in strict compliance with GAAP and all SEC reporting requirements.
We can also assist companies confronted with sudden financial and operational challenges brought on by an acquisition, rapid unit growth, liquidity problems, or other specific events. In these events, our experience will help you navigate through these challenges and determine the appropriate solution. If your company requires reorganization, restructuring, or bankruptcy, we can assist you by quarterbacking the restructuring process, selecting the appropriate legal counsel, preparing schedules, and working with your financial partners and institutions.
Special Projects
Many companies are satisfied with their current finance and accounting oversight, but require specialized assistance in areas where their in-house resources may not have experience or expertise. Restaurant CFO Partners can provide specific project related assistance in any of these areas:
- Debt and equity financing and restructuring
- Business plan development
- Mergers and acquisitions
- Exit strategies
- Accounting software selection and conversion
- Hardware selection and integration
- Cash flow projections
- Detailed operating budgets
- Strategic planning
- Bankruptcy and litigation support
- Employee benefit plans
- Creating a store audit function
- In depth operational analysis'
- Financial training for store managers
- Converting to an in-house accounting function
- Regulatory oversight or audit support for wage & hour, EEOC, TABC, sales tax, or property tax
- Application of Internal Revenue Service rules and regulations as they apply to the specialized practices of the restaurant industry.
- Debt and equity financing and restructuring
- Business plan development
- Mergers and acquisitions
- Exit strategies
- Accounting software selection and conversion
- Hardware selection and integration
- Cash flow projections
- Detailed operating budgets
- Strategic planning
- Bankruptcy and litigation support
- Employee benefit plans
- Creating a store audit function
- In depth operational analysis'
- Financial training for store managers
- Converting to an in-house accounting function
- Regulatory oversight or audit support for wage & hour, EEOC, TABC, sales tax, or property tax
- Application of Internal Revenue Service rules and regulations as they apply to the specialized practices of the restaurant industry.