Opening and operating restaurants, cafes, bars and coffee shops is becoming very popular. It seems they are appearing whenever retail shop closes. There are so many different cuisines and another reason why Melbourne is known as the food capital.

 

Operating a restaurant or cafe can be very challenging and there are so many issues to consider, eg: irregular and long trading hours; HR issues including staffing, payroll and pay rates; unpredictable and seasonal trade; compliance with GST and BAS obligations; upfront capital and start-up costs; lease details of premises; cash flow forecasts; value of the business; permits, liquor licence, food handling regulations.

 

At KPMC,we offer our restaurant and hospitality clients a range of tailored tax and accounting services including:

• Start-Up Business Advice for Restaurants, Cafes, Bars and Bistros

• Advice regarding the Purchase or Sale of your Restaurant, Café or Bar

• Advice and Establishment of Your Business Structure

• Business Registrations including ABN, TFN, GST, Work Cover etc.

• Business Plans, Cash Flow Forecasts & Profit Projections

• Accounting/Point Of Sale Software Selection and Training

• Site Location and Advice Regarding your Retail Tenancy Lease

• Preparation of Finance Applications & Bank Submissions

• Preparation and Analysis of Financial Statements

• Bookkeeping and Payroll Services

• Costing of Menu and Bar Items

• Tax Planning Strategies

• Industry Benchmarking

• Vehicle, Equipment and Shop Fit Out Finance

• Monitoring and Controlling Labour costs

If you are a part of the hospitality industry or are considering buying a hospitality business, please call us on 0478 455 858 or email us info@kpmc.com.au