How Restaurants Can Make the Most of Pandemic Relief Funding
As COVID relief programs were incredibly influential within the food and beverage industry, many bars and restaurants are…
Enhance operations and concentrate on customer service with a team of advisors focused on growing your business.
Staying on top of operations, staffing and providing quality customer service may take precedence over your business’s financials. At Anders, we understand the intricacies of the lodging, food and beverage industries. Our team of CPAs and advisors help restaurants, hotels, real estate owners and food and beverage distributors add value to their business through tax strategies and financial advice — so you can concentrate on what you do best.
From deciding how to structure your business to taking advantage of incentives for minimizing tax burden, Anders offers the lodging, food and beverage industries specialized tax planning strategies.
Using data and innovative technologies can help move your business forward. Our advisors can work alongside your technology staff or work as your technology department to create efficiencies and optimize processes. As a true technology partner, our Managed Services offer vCIO and vCISO-level expertise that scales with you without the major investment of hiring in-house.
Understanding the value of your business is vital when it comes time to sell or add partners. Our forensic and litigation advisors work with the lodging, food and beverage industries on valuations and various litigation, fraud and forensics situations as needed.
From planning for buying, selling or investor changes, to advice on equipment purchases and financing, our team offers the insight and value-added services to make strategic decisions.
Anders works with a range of leaders and professionals in the lodging, food and beverage industry, including:
With local pandemic restrictions taking a toll on St. Louis restaurants, our CARES Act team helped restaurant clients evaluate and secure much-needed funding. Missouri Small Business Grants were one of the funding options available for eligible food service businesses. Our CARES Act team helped three local restaurants apply and obtain $50,000 each in Missouri Small Business Grants that helped keep their staff employed and doors open.
A local restaurant client had opened another location utilizing financing through an SBA loan. Our team came in and provided loan advisory services to identify the best loan and banking organization to fit the needs of their business. We were able to introduce them to a middle market bank with restaurant experience to help their seasoned business reach profitability faster. After devising a plan to pay off the variable rate SBA loan, we helped pair them with a conventional fixed loan. The restaurant saved $30,000 per year in interest over the remaining eight years of the SBA loan, offering an extra $240,000 to invest back in their business. The new banking relationship also offers intangible savings such as better cash management and security advantages.
By reviewing and analyzing the restaurant’s expenditures as a percent of revenue, we were able to benchmark this data to identify operation and cash flow improvements. After implementing operational enhancements and uncovering cash flow shortages, the restaurant was able to lower expenses by $50,000 during the first year and profitability has continued to improve.
Automated a manual process of generating business history reports for an organization that owned several hotels. Hotel controllers and executives can now pull real-time reports with a full comparison of all locations and history.
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