Restaurant Franchise Tax Guide: 2024 Tax Essentials
Running a restaurant franchise comes with many challenges—taxes being one of the trickiest to navigate. Whether you’re new to the franchise world or a seasoned pro, keeping up with tax laws and best practices is essential to protect your profits and avoid those dreaded penalties. This restaurant franchise tax guide will walk you through everything […]
Coupons and Gift Cards Could Be Driving Restaurant Theft
Unfortunately, restaurant theft happens all too often. A shocking 75% of employees admit to stealing from their employer at least once during their career. At OnePoint, we have the privilege of working with hundreds of restaurant owners every single day. From QSRs to full-service establishments, we know the ins and outs of the financial operations […]
Three Ways Owners & General Managers Can Reduce Restaurant Employee Theft
Especially in the Quick Service Restaurant (QSR) space, employee theft can have a huge impact on a business’s profitability. According to a study by the National Restaurant Association, QSRs lose up to 7% of sales to employee theft. Another study found that 75% of all restaurant inventory shortages are the result of employee theft as […]
How to make Your Accounting Data Actionable
Big data has been all the buzz in the business world for more than 5 years. But how are organizations using that data to make better decisions and drive profitability? According to Forrester, 74% of businesses want to be “data-driven” but only 29% are actually successful at connecting analytics to action. The good news is, […]
Three Financial Mistakes Emerging Franchisors Should Avoid
Building a successful franchise system is like building a skyscraper in New York City: without a steel enforced and robust foundation, the building will collapse. The higher you build, the stronger and more intricate the foundation must be. Many of the young franchise systems we encounter approach us asking for advice about how they can […]
Period vs. Monthly Accounting
We are often asked if we recommend monthly or period reporting to our clients. Both approaches have merits and shortcomings, and we want to simplify the decision as much as possible. Below we have focused on the major and important drivers. The simple answer to this question is that if your business’ revenue varies greatly […]
