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How can a CPA help a restaurateur with financing? |
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Written by Bacall & Conniff
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Wednesday, 27 June 2007 09:27 |
In order for a potential restaurateur to have any chance at all with financing, or raising equity capital, a well drawn business plan must be presented. All too often people will plunge into a business driven by passion and creativity but sorely lacking in the planning of the financial aspects of the business. While the restaurateur may be forced into planning for the presentation to the potential financiers, the major beneficiary is the restaurateur. A firm of Certified Public Accountants can assist with putting together the business plan. It is very important that the firm have a thorough knowledge of the restaurant industry.
Once the financing is in place, whether through equity or debt, there will be requirements for financial reporting but, again, the major beneficiary is the restaurateur who, together with the CPA, analyzes the financial reports so there is a total understanding as to what is transpiring in the restaurant.
The information given is provided for general, non-specific educational purposes only, and should not be relied upon as advice relating to your specific circumstances. For company-specific advice, consult directly with your tax advisor.
James Conniff is the Managing Partner at Bacall & Conniff, P.C., a full service CPA firm that provides industry specific accounting solutions for restaurateurs. Their services include: Weekly flash reports, Monthly financial statements, Web-accounting, Optional bookkeeping & payroll services, and Comprehensive tax & advisory services. They can be reached at 617-367-3250.
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Finance