Payroll and Why you Can’t Control It

April 1, 2012By Jean Hagan

Every restaurant owner and operator, large and small, feel the pain of payroll every two weeks. Struggling to control costs, this area seems to be a black hole that they can not work their way out of. Instead of attacking this issue like any other on their financial statements, every time payroll has to be … Read More

Gift Card Revenue – Gift or Grief?

April 1, 2012By KROST

Over the last five years, gift cards have attracted a lot of attention from consumers, retailers, and regulators. A 2010 holiday season survey conducted on behalf of the National Retail Federation (“NRF”) found that more than 77 percent of shoppers had in fact purchased, or intended to purchase gift cards. The survey also estimated total … Read More

Client Spotlight – Yamashiro

January 1, 2012By Jean Hagan

Los Angeles, CA Located atop the Hollywood Hills, Yamashiro watches over the ever-changing Hollywood restaurant scene with a keen eye. Originally developed as a private estate to showcase a priceless collection of Asian treasures, including a 600-year-old Pagoda still on display, Yamashiro has been a thriving restaurant since the 1920’s. Family owned and operated the … Read More

That’s so Gross

January 1, 2012By Jean Hagan

Ask five restaurateurs to define Gross Sales and you will get more than five answers. Technically, the correct answer is that Gross Sales include all revenue centers in the restaurant operations. The National Restaurant Association defines Gross Sales as “income received from goods and services”; so yes, that includes all food and beverage income, service … Read More

A California Sales Tax Audit – Your Biggest Nightmare!

January 1, 2012By KROST

Sales tax audits in the restaurant industry are inevitable, especially with states like California needing money due to the economic downturn. The problem is not the audit, but the typical results – a large assessment of tax, penalties, and interest. Audits typically encompass a four-year period and the list of documents that will be requested … Read More

Ctuit and Krost Announce Partnership

January 1, 2012By KROST

Ctuit Restaurant Business Intelligence Los Angeles, CA Phone: 415-884-4888 KROST’s managing Partner Greg Kniss has announced a new partnership with Ctuit. “We have been working with Ctuit as a way to bring valuable information to our clients to assist them in increasing their profit margins,” noted Kniss. Single and smaller multi-unit restaurant companies need the … Read More

College Culinary Program Heats Up: Campaign Kicks-Off to Raise Funds for State-of-the-Art Culinary Facility

January 1, 2012By KROST

College of the Canyons Institute for Culinary Education 26455 Rockwell Canyon Road Santa Clarita, CA 91355 College: (661) 259-7800 Foundation: (661) 362-3434 College of the Canyons officials in Santa Clarita have embarked upon a capital campaign designed to raise funds for the construction of a brand new, state-of-the-art, on-campus culinary facility, which would provide a … Read More

Case Study: Restaurant and Bar Review

January 1, 2012By Jean Hagan

This is a restaurant and bar that specializes in unique beer choices paired with an upscale menu. Different than other pub operators, this group has a commitment to also providing a high-level food experience. Location/Occupancy Costs Great location on a corner of the main street in a mid-sized town environment. Excellent occupancy costs ranging at … Read More

Case Study: Restaurant Company Review

August 1, 2011By Jean Hagan

The first thing we reviewed in detail was the financial statements. They were produced by a bookkeeping service that was inexpensive and inaccurate. We reformatted the numbers so the owners could read, understand, and calculate basic costs associated with the restaurant business. Once the financials were reformatted we compared their numbers to local and national … Read More

Client Spotlight – SPITZ

August 1, 2011By Jean Hagan

Los Angeles, CA Co-owners Bryce Rademan and Robert Wickland, classmates from Occidental College, operate two restaurants with the third one in development. The named the restaurant Spitz to highlight the slow roasting of minced roast beef and lamb pressed together and cooked on a vertical spit and sliced off to order. This Mediterranean dish is … Read More