The restaurant industry brings with it many diverse operational and business issues, including concept design, menu development, site selection, restaurant build out and expansion, food preparation and costing, purchasing, training, and customer service issues, etc.. These factors coupled with the financial issues of providing sufficient working capital, budgeting, controlling food and labor costs, selecting the right point-of-sale system, implementing adequate accounting and cash handling procedures, tracking fixed assets, and providing required funding for growth, combine to make the restaurant business an exciting but challenging industry.

With extensive restaurant industry experience, M. L. Lichtenberg & Associates, LLC is prepared to meet your industry specific business, accounting and tax needs. We have been involved in nearly every aspect of the restaurant business.

Just curious, does your accountant have industry expertise?

Does your current accountant just provide you with tax compliance services and maybe assist you with historical reporting?

Can your current accountant answer the questions listed below?

If not, maybe it is time to consider getting more value for your accounting dollar. Maybe it is time to consider M. L. Lichtenberg & Associates, LLC.

  What are the standard industry percentages in your specific segment of the market for food and beverage and labor costs?
  How can you make more money through menu modeling, menu mix, portion controls, and theft controls?
  What is unique to the restaurant industry that will allow you tax breaks on property taxes, asset depreciation, tax credits, workers compensation and unemployment taxes?
  What is the most tax advantageous way to structure the purchase or sale of your restaurant or bar, and what common pitfalls should you avoid?
  What three things should you look for first when food or beverage costs are too high?
  What is your restaurant worth in today‚Äôs market?
  What are normal starting wages for the general managers, line cooks, hosts, dishwashers, etc?
  What new laws and management techniques are working for other restaurant and bar owners?
  What front-of-the-house computer systems are available for restaurants and bars? Which ones are to be avoided?
  Is your accountant taking full advantage of the tip credit, small business health care and other credits?
  Considering the size of your operation, what should you be paying for office and accounting costs?

For more information and an individual consult, contact us.

  Professional Service Firms
  Restaurant Groups, Caterers & Single Eateries
  Individual Tax & Estate Planning
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