Food is big in South Carolina, and even Naples has experienced a restaurant boom in the past couple of years. Even better, locals are going local: a key trend in South Carolina’s food industry is the keen enthusiasm of consumers to patronize locally-established restaurants. They want to experience something different and eat healthy but with the level of service and charm that only small businesses can give. If you have always been passionate about food and want to put up your own restaurant in Naples, there’s no better time than now to make that a reality.
Before you even begin planning your menu, however, you need to hire a reputable financial consultant in Naples, SC. According to statistics from the Small Business Administration, almost 50% of establishment survive their first five years. That percentage drastically plummets within the extremely competitive food industry. Despite this, keeping a tight rein on your financial affairs is a smart way to protect your investment, and for this task, no less than a professional bookkeeper will do.
The Difference of Restaurant Bookkeeping
Indeed, one of the most critical aspects of setting up your restaurant is having a proper bookkeeping system. This differs from other retail or service industries because your inventory purchases happen often, sometimes even daily. In addition, some units in your inventory may not even arrive prepackaged. The dynamic nature of a restaurant business can make it difficult to keep track of its many financial aspects, especially for food lovers who have never run a business. Therefore, an experienced bookkeeper in Naples, SC is essential to ensure updated bookkeeping records and maintain smooth operations.
Aside from inventory, bookkeeping covers many vital business aspects you might never have thought about before. For instance, keeps track of your operating expenses, taking into account the rent, insurance, loan payments, maintenance costs, employee benefits and wages, and so much more. It takes a lot to run a successful restaurant, and without the skills and knowledge, you can be quickly overwhelmed.
Freedom to Enjoy Your Gastronomic Passion
The moment you hire a professional bookkeeper, you’ll free up most of your time, attention, and effort. You entered the restaurant business in order to do what you love. Stress over financial management can drag you away from your real purpose— to serve amazing food and give patrons a memorable dining experience. Therefore, it’s simply wise to invest in a bookkeeper so you can spend more time nurturing your restaurant into a place guests will return to over and over again.
UF/IFAS experts predict food trends for 2016, South Carolinatrend.com
The Seven Pitfalls of Business Failure and How to Avoid Them, businessknowhow.com
Restaurant boom in Naples, SCtrend.com
Why Is Accounting Important for the Start Up of a Business?, smallbusiness.chron.com
Basic Restaurant Accounting, foodservicewarehouse.com
How to Open a New Restaurant With Bookkeeping, smallbusiness.chron.com