The RoArt Group has extensive knowledge and expertise in the hospitality industry enabling us to assist restaurateurs and food service related businesses to achieve all financial and operational goals. Having worked with top chefs and restaurateurs in New York City, including, Bobby Flay, Jean Georges, Alfred Portale, Charlie Palmer, Michael Romano, Danny Meyer and others we know how to deal with the challenges and develop strategies for restaurants and food service related businesses to grow successfully and become more profitable.
Our value-added services include but are not limited to:
- Restaurant business valuation
- Strategic business growth and planning
- Mediation and negotiation
- Cash flow planning and budgeting
- Business structuring/restructuring
- Real estate negotiations
- Strategic tax planning
- Franchising and/or expansion
- Determine hidden costs of opening a restaurant
- Turning around a struggling restaurant
- Growing and maintaining a profitable restaurant
Trends and Exposures
Individual restaurants depend on large volume due to the high fixed costs. In order for the small and mid size restaurants to compete their service and quality must be impeccable while paying attention to food costs and other expenses.
In a down market diners might frequent markets for prepared foods that are less costly and can be served at home. Restaurants must prepare for this and offer specials to attract customers rather that lose the business.
Food for Thought
- Baby boomers spend more money eating in restaurants due to their discretionary income.
- There is an increase in take-out meals.
- Casual dining is becoming more popular.
- High employee turnover in this labor-intensive industry must be considered.
- Growth in restaurant franchisees.
- Recycling and environmental issues.
- Litigation over liability for DUI, obesity lawsuits and liability for grease disposal.