Fast Food retailers know that the market is not what it used to be. As Australian lifestyles, tastes, and dining methods change, the nature of this competitive industry continues to shift. Calibre ensures that retailers in fast food put their best foot forward and corner a niche in the diet of their local customers.
The major factors impacting fast food in Australia include an increasing population, especially in major metropolitan areas, a greater demand for food options, especially those geared towards healthy eating, and the advent of dining technology.
Fast food stores in local suburban hubs face increasing competition. Greater awareness of the impact of traditional fast food on health has seen even large corporations turn towards healthy choice menus. Uber Eats, Menulog, Zomato, and others have revolutionised the way people order fast food and review retailers. Shops and restaurants who strategically navigate in this climate must win a steady stream of customers. Those who do not inevitably struggle.
Increased competition. Changing tastes. Online ordering. Government crackdowns on the cash economy.How can fast food retailers create a smart business strategy in this environment?
|editHow have you factored in cost pressures and the unlikelihood that your customers will bear higher prices for your food?|
|editHow will you manage rising expenses in light of stricter payroll regulations and increased Fair Work audits?|
|editAre you aware of the risk of tax audits? Since fast food retailers operate in cash, the ATO and OSR are increasing scrutiny and adjusting benchmarks.|
|editHow smart is your workforce management, and is it impacting your bottom line? How do you factor your break-even point, opening hours, licensing costs, leasing or buying of premises, and other issues?|
|editDo you have a system to measures the profitability of each of your stores or menu items?|
You want to put in your effort and long hours into selling your goods. Partnering with sharp advisors can ease the burden of these financial and operational challenges.
Calibre Business Advisory’s experience in assisting fast food retailers with tax and business strategy empowers you to meet these needs and corner your market.
|editWe have a virtual CFO function that can provide profit and loss visibility and open up new financial options.|
|editWe have a tax team that specialises in structuring advice for retailers, which reduces risk.|
|editWe make sure you keep abreast of ATO and government actions in the retail sector, and help maintain consistent record keeping systems.|
|editWe have implemented accounting systems for clients with multiple fast food stores to work out profitability and allocate overhead costs.|
|editWe have been involved in countless payroll tax, GST, and income tax audits for retailers so we know how to best represent you and prove the volume of your sales, costs, and wages paid.|
Calibre’s small business advisors and external auditors have proven time and again our capacity to manage the financial and operational strategy of retailers, so you can get back to your core business of food preparation and sales.
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