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The difficulty of hospitality is making a good margin with the right product. Hospitality especially in Melbourne, is about the whole experience, it is not just the food, but the surroundings and the service.
Many times we have seen through years of experience the over-capitalisation on fitout which could itself prove to be detrimental to a new establishment. Purchasing quality product at the right price and ensuring that staff levels with effective rostering are managed appropriately are areas we have assisted clients with. We look at where each business wants to be and ensure that the target market and patrons are receiving what your vision is. Through our highly trained hospitality accountants we make sure that these goals are met. Sometime however no matter how much you have planned you need to adjust the model to suit what the markets wants and to ensure that your brand and food achieves its purpose.
With hospitality being a difficult work environment due to hours of work required and the constant need to find staff due to the nature of the industry, we look to assist in appointing and working with the owners to find the right people to assist with hospitality accounting.
Case Studies
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The Restaurant
At The Co.our hospitality accountants understand the tricky nature of the hospitality industry, however having worked closely with a restaurant establishment for the last 5 years, The Co. have seen constant growth on sales. With assistance, focus and attention to detail on the following:
• Earning a great living to reflect the hours they work
• Establishing a permanent, iconic establishment
• Of recent times in continuing to work with The Co., the establishment has gone on to open a second restaurant, with sustained growth and success the key moving forward. -
The Franchisors
Establishing an effective franchise model has its challenges, making money as a proprietor as opposed to a franchisor is integral to ensuring that you and your franchisees are both successful. The Co. has assisted on both sides of this matter it is clear what does and does not work. Managing the following concerns are crucial:
• Start-up debt
• Sales targets
• Managing employees
• Automating systems
Other Industries
Manufacturing
Textiles, motor vehicles or chemicals – manufacturing’s contribution to Australia’s GDP is undeniable, and we’re here to help nurture the process. Our clients in the manufacturing field range from cabinet makers, caravan manufacturers, stonemasons, toolmakers, and many others.
Construction
Construction is a significant driver of economic activity in Australia. In the building game, our Melbourne construction accountants work with a variety of clients, all holding different target markets within the building sector.
Healthcare
The Co. is one of the top healthcare accountants in Melbourne. We work closely with Osteopaths, GPs, and Pharmaceutical companies to maintain up-to-date financial data, allowing them to make better decisions for the livelihood of their practice and betterment of their patients.
