Advance Accounting Services During COVID-19 Impact
Restaurant Business & it’s impact when Covid-19 is here:
As an Accounting & Auditing company Elevate is always focused to serve Restaurants, Food & Beverage companies. We have been into the accounting of several popular Restaurants. We have witnessed restaurants became profitable when we started controlling their Finance, Accounting & Auditing at end of the year. Restaurant business is always lucrative and investor attracting business in UAE. Because of high tourist volume in the country, Restaurants generally find it easy to manage the cash flow.
Covid-19 has altered the business landscape extensively. After Covid-19 pandemic tourism industry is badly impacted with many other industries. Residents of UAE are also avoiding to visit restaurants. This has brought an adverse effect to Restaurant business. The investment in Restaurant business is huge and the strength of employees are sizable. Cost of Fixed maintenance is also high. The question is how to survive for this period when the revenue is not meeting the fixed cost.
Team Elevate is well experienced into the Food & Beverage industry for several years. We understand Restaurant business from the root. We have experienced several success stories and also observed several failure in the restaurant business due to lack of good hands into the finance and accounts.
Understanding the current situation and business challenges, Team Elevate has developed an Advanced Accounting Service-Industry specific for high sustainability. Any startup restaurants, existing restaurants, big restaurant chains having their own inhouse accounting team can adopt Elevate Advanced Accounting model for sustainability.
So having a team of experts with less cost is best decision for a restaurant to grow during tough time which can make any business profitable.
Benefits of outsource Advanced Accounting from Elevate in this crucial period.
-Complete Book Keeping
-Cost Control advices in terms of salary, rent, food cost, food wastage
-Advices to have a proper control over delivery channel’s payment & accuracy (Deliveroo, Zomato, Kareem)
-Choosing right software for inventory management
-Time to time advices how to choose a cost effective delivery model
-Business plan & forecasting to analyze the future growth
-Management reporting and discussion
-Virtual Kitchen & its benefits to reduce fixed cost
Cost Saving for Restaurants the base benefits with Elevate …
-No Fixed salary to Accountant
-No Visa cost
-No Gratuity, air ticket
-No fear of surprise resignation of Accountant
-Elevates Service fees is 50% lesser than a junior accountant’s salary
Advanced Accounting Services: We do Accounting for every restaurant. There are 3 different level of Accounts people are getting involved into each Restaurant , they are Accountant, Supervisor and Accounts Manager to make this model really adoptable.