Restaurants

Feeding a healthy bottom line for restauranteurs

Regardless of whether you’re a franchisee, franchisor, or standalone, independent restaurant owner, owning a restaurant is complex. Shifting dynamics in the industry have brought about poor growth, rising costs, and a shortage of qualified labor.

From managing and controlling inventory, analyzing data from your point of sale (POS) system to identify issues and opportunities, dealing with a multitude of employee issues, or staying in compliance with sales and other tax compliance and reporting requirements, finding the path to a healthy bottom line can be quite challenging.

Whether you’re operating a single location, multi-location, or multi-state restaurant, balancing everything you need to get done is a challenge. The right partner on your team can be instrumental in your continued success. Customized solutions are within reach, including integration and cloud solutions for making the best decisions based on the data you already have across your platforms. Another example is inventory control and management for ordering and maintaining supplies while decreasing waste and driving up profits.

Undoubtedly, there are many dynamics at play for quick-service (QSR), fast-casual, and full-service restaurants. Don’t ‘86’ the available opportunities to adapt and position yourself for continued financial success.

Solutions

Adams Brown provides the following services to restaurants:

Agreed Upon Procedures

Agreed Upon Procedures, Review and Compilations

Services for providing insight into the accuracy and validity of your restaurant’s accounting and financial information to discover and correct issues, install controls, assist with financial decision making, and respond to 3rd party financial information requests.

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Business Advisory and Consulting

For restaurants seeking guidance in areas in areas such as strategic planning, growth opportunities, business transformations, or selling, merging, or transitioning their businesses in response to new situations.

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outsourced_client_accounting

Outsourced Client Accounting

For restaurants seeking to make managing their business easier via outsourcing back office accounting functions like payroll, accounts payable and accounts receivable, analyzing areas for automation and implementing cloud-based solutions, and training staff on new software and procedures.

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Tax Planning and Compliance – Business

Tax minimization strategies and tactics at the corporate level with a focus on capturing relevant Federal and State of Kansas incentives, credits and deductions for restaurants.

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Tax Planning and Compliance – Individual

Tax minimization strategies and tactics for restaurant owners or families with a focus on opportunities under the new Tax Cut and Jobs Act and recent changes to State of Kansas tax requirements. We also help with tax strategies related to succession planning and exiting the business.

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wealth_management

Wealth Management

We help restaurant owners or families develop and implement customized strategies for achieving long-term goals, strengthening your financial security and maintaining your quality of life.

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Other Adams Brown Solutions

For a confidential discussion of your issues and needs, please contact our Restaurant Team Leader, James Bailey, using the fillable “Contact Us” form on this page.

Testimonials

  • For more than 20 years we have had a strong, stable relationship with Adams Brown. Their knowledgeable team has a strong understanding of our business and have been great partners. They have been instrumental in improving our business and financial operations over the years. We have never considered changing firms and would recommend them to anyone without reservation.

    Walt Hill – High Plains Mental Health Center

  • The prompt, personal service provided by the Adams Brown team is the best benefit in working with this firm. They offer knowledgeable advice and help my business plan for any eventual scenario. Their guidance and support show their commitment to helping our business succeed. I would recommend them to anyone looking for an accounting firm that has the best interest of the business and its success at heart.

    John VonLintel – JROBB, LLC

  • Par Exsalonce has used Adams Brown for over 10+ years for our payroll needs and have found them to be informative, helpful and accommodating. The salon is quite large and we are constantly adding new employees to the two locations. In addition, they handle insurance, IRA, Aflac and other deductions we throw at them! The entire team is wonderful to deal with – from the receptionist to the accountants that handle our diverse business needs. We could not ask for a more knowledgeable and dependable group of people. Our thanks to them many times over!

    Teri Mills – Par Exsalonce

  • “With Adams Brown, we don’t just get a financial advisor – we get a business partner. Our engagement team does an excellent job serving our needs and continually works with us to develop a plan for long-term success. When we come to them with a question, they go above and beyond to get the answer. Knowing we have that kind of support and dedication from our CPA is important. Our company has been in business a long time, and having a partner like Adams Brown will help keep us on a successful path for many years to come.”

    Gary Shorman – CEO, Eagle Communications, INC.

  • “I own a small business that has been running for over 40 years. I am proud to say we have been with Adams Brown for many of them! I am very pleased with the service they provide and their commitment to helping me grow my business. When I first began working with Adams Brown, I received guidance and a set of guidelines to follow that helped me achieve my business goals. I have full confidence that if I am unable to reach my main contact, I will still receive the best service so that I can stay on track. I highly recommend the team at Adams Brown.”

    Dan Woolard – Midway Manufacturing, INC.

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What’s Next

Among the many challenges that face restaurateurs, opportunity is abundant with new and emerging technologies. Capitalizing on these disruptors, which include delivery driver programs (DoorDash, Grubhub, Uber Eats, etc.), labor automation, and cloud operational and financial reporting in real time, is the next big challenge and opportunity for the industry.

Restaurant Team Leader:

James Bailey

James Bailey

Contact James:

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Auditors | Accountants | Consultants | CPAs – Adams Brown is a Certified Public Accounting firm serving high net worth individuals and businesses across the central United States, including Kansas and Arkansas offices in Wichita, Kansas City, Great Bend, Colby, Hays, McPherson, and Jonesboro (AR). The firm provides a variety of tax, audit, consulting, and advisory services to guide businesses toward their goals.  Key industries served include agriculture, construction, government municipalities, professional services, and manufacturing.  To help businesses recover from the COVID-19 pandemic, we provide a variety of consulting services including outsourced accounting, cash flow planning, and comprehensive tax review.