To stay competitive amidst rising food costs, employee turnover rates, changing consumer habits and other market factors, it’s essential to understand how your restaurant’s metrics stack up against industry standards. It is also important to understand the different operational and financial parameters used to measure your restaurant's ability to succeed.
Baker Tilly’s restaurant benchmarks report compiles key operational and financial data from restaurants across the U.S. By analyzing your restaurant’s data against the industry standard, you can better identify specific areas for improvement and make more informed, proactive business decisions.
Download the report to access key industry metrics, including:
Each restaurant is unique and not every guideline will relate to every business. For help in determining which benchmarks are appropriate for you, contact Baker Tilly restaurant specialists.
Many new restaurant owners wonder how to reduce their taxes and boost their cash flow. This is a common concern even for savvy taxpayers who use smart tax strategies. But there is a surprising solution that may work — real estate! Buying a new building for your restaurant can help you speed up your tax deductions and lower your taxable income. A cost segregation study can help you find out how much you can deduct from your real estate.
Unclaimed property means any non-physical property that is owed, issued, or held by a business and has not been claimed by the rightful owner for a certain amount of time after it was due or issued. Whenever a restaurant or franchise creates a payable or a liability, that transaction can turn into unclaimed property if the owner does not cash, redeem, or claim it.