Getting the most from your restaurant
Restaurants face several challenges, including rising food costs, high staff turnover, fluctuating customer demand, and complex tax regulations. Economic instability, supply chain disruptions, and inflation can increase ingredient prices, making it difficult to maintain profitability. Add to this, managing labour costs, payroll taxes, and compliance with health and safety regulations brings further pressure.
At Carroll Accountants we help restaurants to navigate these issues by implementing cost control measures, optimizing pricing strategies, and ensuring accurate financial reporting. We analyse expenses, identify areas for savings, and help manage cash flow to keep the business stable during slow periods. We also handle tax compliance, ensuring proper VAT calculations, payroll tax filings, and deductions to minimize liabilities. By providing financial insights and forecasting trends, we help restaurant owners to make informed decisions, adapt to market changes, and ultimately improve profitability.
- Licensing & compliance
- Inventory & cost control
- Staffing & payroll
- Customer experience
- Recipe costing
Dave and his team are great. They are thorough and make me feel comfortable in understanding the accounts in my business. They are always there to give advice and guidance in business matters beyond general accounting.”
Case Study: A business plan that wins!
Carroll Accountants are masters at business plans, that’s because they’ve been in your shoes and know the hospitality sector in detail.
The problem:
A pub’s accountant had created a business plan for a restaurant on the premises which had been rejected 5 times by the pub company. The work was finally given to Carroll Accountants who specialize in the trad.
The solution:
Carroll Accountants went through the original business plans and realized that the KPIs and projected costs associated with the restaurant were all wrong. Several major areas had been missed.
The outcome:
Carroll Accountants sat down with the pub owner and reviewed the information and pulled together a revised business plan in 5 days. The plan was accepted first time by the pub company and the planned restaurant could go ahead.
Not found what you’re looking for?
Pubs
Managing the accounts of publicans and handling their business finances is something that should be left to a team of trained professionals. That is where we can help.
Hotels
Carroll Accountants assists hotels with their accountancy and taxation queries.
