Business Turnarounds – When the “numbers aren’t working”
Do you have great food, dazzling décor, and skillful marketing? In spite of this winning combination, there is no guarantee that a restaurant will be profitable. Even a packed house and a line at the door may not keep you from staring at red ink month after month.
Running a restaurant is unlike any other business. It is a complex undertaking with many, many elements, any one of which, if flawed, can cause continuous financial losses. One popular menu item incorrectly priced, underpriced drinks from the bar, holes in the accounting system permitting the staff to pocket money, high cost of debt service, lackluster marketing, an exorbitant rent – any of these scenarios can lead to shrinking profits and an owner’s loss of income.
In the restaurant business, where profit margins are simply too slim to make mistakes, a small logistical error can cost you the business. Try to increase those margins in this very competitive industry and you may see customers disappear faster than a magician’s scarf.
With over 35 years of restaurant owning experience, Eckstut Consulting can find and correct the mistakes. We know where to look and what to look for. We know financing, leasing. Simply put: we know how the Restaurant Game is played. Eckstut and his team have helped turnaround scores of troubled restaurants.
Here’s What Eckstut Consulting Can Do for You:
- Troubleshoot – to include a review of every aspect of the business
- Create an operations/cost analysis
- Develop a budget and oversee its implementation
- Develop and implement effective management and organizational systems
- Advise and implement the turnaround