Take care of local NYC regulations, keep your customers happy, your bottom line healthy

In NYC, we have a great selection of ethnic, casual dining, and fine dining restaurants; as well as diners, delis, street vendors, juice and smoothie bars, coffee shops, and bakeries. However, the recent five years of record growth for the real estate market have increased commercial property rents for NYC’s hospitality businesses.

But it’s not just rising rents. Last year alone, a list of well known and revered restaurants closed their doors for reasons such as intense competition, rise in rents, and challenging regulatory environment, according to NYC Hospitality Alliance. For instance, Campbell Apartment’s rent was raised and lost to a higher bidder at $1.1 million/year; Da Silvano’s closed due to rising rents and inability to keep up with operating costs; Carnegie Deli closed at the end of the year; and many others closed their doors in 2016.

Restaurants that made the neighborhoods great,
now can’t afford the neighborhoods.

In an article in Food Republic, restaurateur Danny Meyer addressed the issue that he was unable to remain in the neighborhood where Union Square Cafe had called home for so many years. He understands landlords are for-profit businesses, but he feels some of the restaurants that have been forced to close were what made the neighborhoods what they are now.

No one denies, owning a restaurant in one of the biggest cities, is a great, risky endeavor with great rewards. There is a lot to take into consideration, so here are a few resources that will help you to guide the NYC regulations, stay compliant, set up your accounting practices, and even develop a business plan for profitability.

Restaurant compliance management

comp.ly-app-nyc-restaurants-permits-licenses-remindersNYC Hospitality Alliance has introduced a compliance management web application that allows restaurant owners to keep track of when they should renew their permits and licenses, and be reminded of the inspection dates from the Department of Health in order for restaurants to keep their A grade for food safety. The Comp.ly app also allows businesses to track other compliance issues such as when to renew insurance policies and issue new labor law notices. The way it does this is by sending your team email reminders and calendar invites to keep your staff and restaurant compliant.

In addition to the above handy application built by NYC Hospitality Alliance, they’ve also launched a Hospitality Helpline. Meeting the on-demand nature of business today, experts are a phone call away.

Need to have all NYC regulations for restaurants in a handy guide? NYSRA has developed an intensive Restaurant Owner Manual in collaboration with the Mayor’s Office of Immigrant Affairs and other New York City Agencies like the Department of Small Business Services.

“The manual highlights key regulations and best practices critical to all restaurant owners such as health and safety requirements, licensing rules, immigration and labor laws and more.”

Visit NYSRA.org to download the restaurant owners manual. NYSRA also provides advocacy and classes, such as ServSafe classes, a widely accepted food safety and alcohol service training program in the industry recognized by many local, state and national health department officials across the country.

Here at Bookkeeping Chef, we have a good amount of resources as well, both on our blog and within this helpful ebook, Better Bookkeeping for Chefs and Restaurants. In it you will find some tips on:

  • Accounting system setup
  • Financial Forecasts & Projections
  • Bill Payment and Payroll
  • How to set up proper inventory management & controlling waste
  • Keeping Accurate records and avoiding a sales tax audit
  • Staying in Compliance with Dept. of Labor
  • Writing off vehicle expenses

Better Bookkeeping for Chefs and Restaurants Guide

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When you hire us to manage your bookkeeping, you will get high quality:

  • Monthly Profit And Loss reports, so that you can see what your business made or lost,
  • A Monthly Balance Sheet, giving you an idea of what you owe
  • Monthly Prime Food, Liquor and Labor Costs Analysis to keep you on track
  • Monthly Bank Reconciliation To make sure your cash is right
  • Monthly Credit Card Reconciliation
  • File your Monthly or Quarterly Sales Tax
  • Monthly Video Coaching Call for 30 mins

And, that’s “Just A Taste” of the managed bookkeeping services we offer for restaurants and other hospitality businesses in New York City. Check out our pricing packages below.

  • The Kitchen Sink
    Custom pricing for your business
    • Weekly Profit and Loss Statements
      • Know what you made or lost for the week
    • Weekly Balance Sheet
      • Know what you own and who you owe
    • Weekly Prime Costs Reports
      • Food & Liquor
      • Labor Costs by Dept.
      • Prime Costs Summary in Dollars and Percentages
    • Paperless Accounts Payable
      • This is huge!!!!
      • Get rid of that old file cabinet
      • All your invoices online
      • No lost invoices–and we know you lose them!
      • Know what you owe each week
      • You decide what to pay
    • Weekly Bank and Credit Card Reconciliation
      • All bank and credit card accounts synced and balanced to Quickbooks Online
    • Weekly Payroll Analysis by Department
      • We sync your payroll weekly with Quickbooks Online
      • Know what you spend each week by dept.
    • File your Monthly or Quarterly Sales tax
      • Give the government their cash
    • Monthly Video Coaching Call for 30 mins
      • Tell us what’s on your mind
    • Access all reports on your phone or tablet
  • Just a Taste
    • Monthly Profit And Loss
      • Know what you made or lost
    • Monthly Balance Sheet
      • What I own and who do I owe
    • Monthly Prime Food, Liquor and Labor Costs Analysis
      • Do my costs make sense this month
    • Monthly Bank Reconciliation
      • Gotta know if my cash is right
    • Monthly Credit Card Reconciliation
    • File your Monthly or Quarterly Sales Tax
      • Give the government their cash
    • Monthly Video Coaching Call for 30 mins
      • Tell us what’s on your mind
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