Running a bar, pub or restaurant successfully is hard. With such diversity and depth of competition, it is vital that your accountancy partner has the expertise to tackle the specific issues that affect the sector.
mgr offers decades of experience working with clients in the food and drink sector. They rely on us to give them ongoing advice and guidance so that their business operates as profitably as possible.
We can help you at every stage of your business’s evolution, from identifying the most promising premises to working with you and your investors or stakeholders to draft a business plan with realistic and objective forecasting of its long-term performance.
We will help you hire a team to run the new bar or restaurant and advise you on the contractual and disciplinary procedures you will need to put in place. We can show you how to operate the tronc for your waiting staff and, if needed, advise you on more formal incentive schemes for your managers and chefs.
Once the business is up and running, we can monitor its day-to-day profitability – reporting back to you via our cloud accounting system if you prefer – and suggest areas for change or improvement. We will always have an eye on the tax implications of any recommendations we make.
And when it’s time for you to realise your investment, we will be at your side as you prepare the business for sale or management buyout.
Here are the services we provide for our Food and Drink clients:
Set up, purchase and sale of establishments
Tax planning – Income Tax, Corporation Tax, VAT, SDLT, Capital Gains Tax
Due diligence when acquiring existing businesses
Advising on business structures
Estate and Inheritance Tax planning
Succession planning/retirement planning/exit route planning
Benchmarking against industry norms
“As a chef/patron of a very busy gastropub, I am very stretched for time out of the kitchen. Nigel and the team at mgr are always there to let me know how well the business is doing and to make the accounting process as simple as possible, year on year. I couldn’t do it without them!”
Jonathon Jones, Anchor and Hope gastropub