Preserving Value in your Business
It's been Ken's experience that restaurant owners are slow to realize and accept that they are in a declining or near-crisis situation. The crucial elements that determine long-term survival are the ways owners plan for and handle this special situation.
When a company is confronted with serious financial problems, it becomes necessary to abandon some traditional business approaches and employ more practical methodology to preserve its value. Ken's goal is to move clients into a stable situation as quickly as possible — generally meaning a complete or partial revamping of the management, operations, employees, vendors, financial reporting, and general administrative practices.
Operations / Review
An audit provides the basis for a plan to ensure viability, including a complete review of:
- Cash Flow
- Prime Cost Review (Cost of Goods, Labor, Occupancy, and Other Direct Costs)
- Credit Issues
- Financial Statements and Reporting
- Operations
- Existing Legal and Insurance Issues
- Compliancy Issues
Problems Ken Will Solve
- Profit and Loss Issues
- Accountable Management
- Disgruntled Partnership
- Food, Beverage and Labor Cost Problems
