Just as Santa Claus meticulously prepares his list of who's been naughty or nice, businesses should also be careful of the tax implications of their festive cheer.
Your customers always come first. But running a successful hospitality venue also means closely watching the bottom line.
Hospitality venues, including pubs, clubs and restaurants, are constantly affected by changing customer expectations, increasingly shaped by online and social media trends, both locally and globally. Keeping up in a highly competitive market is challenging enough. However, on top of this are the challenges of managing razor-thin margins, staffing shortages, staff expectations, and ongoing supply chain disruptions. It is often a labour of love for those in the industry who enjoy being with and serving their local communities.
The hospitality sector requires professional accountants and advisers who understand that loyalty is earned through great personal service, as well as by delivering tailored, timely and practical business advice. It also requires professionals who can apply a long-term approach, help identify innovative revenue streams and improve the way operations are run and people are managed.
How we help clients
Invite us to the table to discover our approach and commitment to growing your business. HLB Mann Judd has extensive experience advising pub, club and restaurant owners and managers across all aspects of their business and financial affairs.
HLB Mann Judd is an award-winning advisory firm that has been repeatedly recognised for its client service. A nine-time winner for 'Best Accounting & Consulting Services Firm' at the Client Choice Awards, our clients tell us that we are responsive, expert and that we genuinely care.
Our team of experts has developed a suite of specialised services for hospitality businesses. We can assist with:
- Annual reporting and compliance, including liaising with the ATO
- Tax planning for effective structures and operations
- Staff and payroll support, including advice on statutory regulations regarding employees
- Budgets and forecasting to better understand industry trends based on performance
- Cashflow analysis, empowering you to make timely and accurate decisions
- Financial ratio and variance analysis to identify trends or isolate periods with unusual results
- Accounting software analysis to ensure your software is up to date and best suited for your business needs
- Management accounting solutions to optimise efficiency
- Due diligence to achieve maximum value for money on potential investments
- Financial planning and asset protection strategies
- Change of ownership, ensuring the transition to opening or closing your business is as smooth as possible
- Strategic partnerships with professionals in the industry, including legal advisers, business brokers, valuers, bankers and property agents
- Sustainability and responsibility, monitoring and evaluating effective sustainability initiatives and strategies
- Distress management and restructuring advice