We have seen, understand and recognize your challenges. We also know the solutions to best mitigate the risk.

The OnSite method is to provide tangible returns and increased performance-based results for our food & beverage clients. Assisting in the steps and requirements needed to assist underperforming units faced with complex financial and/or operational issues. Moving towards a profitable unit, combined with the systems to build an automated and turnkey product, our clients see positive change.  

The multidisciplinary team consists of highly skilled and credentialed professionals, able to manage the turnaround, debt restructuring and repositioning of the concept for success efficiently and within the corporate or legal framework.  

Many members of the team have experience within the turnaround sector across a variety of cuisines and ranging from corporate ownership to franchise or licensing. Our team brings highly specialized experience to provide value to our clients.

Our Turnaround Clients Include:

(1) Clients currently or imminently insolvent:
Providing immediate steps for the turnaround and restructuring of the unit and associated debt.

(2) Clients with a proven but underperforming concept:
Providing modifications to the existing and proven concept to enable profitability and maximum performance. 

Industries Served Include:

Fast Food - Quick Serve - Fast Casual - Casual - Fine Dining - Arena/Sports Service - Real Estate Developers - Shopping Centers

The key to a successful turnaround and maximum return from concept repositioning includes:

PRACTICE AREAS - BRIEF OVERVIEW

CREDIT ADVISORY & DEBT WORKOUT
Our primary goal is to assist our clients in developing, evaluating and implementing the best strategic alternatives to maximize value. Affording the restaurant unit an opportunity to recover requires the renegotiation of debt both secured and unsecured, creation of a debt strategy and vendor management to ensure continued product and services. Creating immediate increases in cash flow through the release of historic debt obligations can provide the buffer needed for a restaurant to turnaround.

INTERIM CRISIS & TURNAROUND
A broad range of capabilities are offered to assist clients with timely resolutions to organizational difficulties. Helping stabilize operations and reposition a company for success. We focus on bringing order to often chaotic or unorganized situations. Offered in partnership with existing management and/or ownership or as an interim replacement taking the immediate steps obtain a clear picture of the situation, understand the problem and execute the solution. Our substantial situational experience and strategic insight, provides a pathway to stability and resolution of the challenges.

PROFIT IMPROVEMENT & RESTAURANT SCIENCE
We assist our clients in developing a detailed understanding of their organizations operations and the key underperforming areas. The key to greater profitability is the implementation of an in store Restaurant Revenue Management Strategy that can utilize sales and volume data to determine potential challenges and underutilization. Yield management applies to every element of the operation, from workflow to the consumer and inventory, and its subsequent impact on volume and profitability.

UNIT OPERATIONS & PROCEDURE MANUALS
A successful unit requires a bible that can be trained to new or existing staff. Maximizing revenue is about investing in systems and processes not individuals. Should you choose to grow, all units irrespective of demographics or location will benefit and produce the expected result. The creation of operations, procedure and training manuals ensure consistency and control of the brand and the execution of the concept correctly. The creation of manuals combined with a well-executed training program mitigates the risk of rogue managers, substandard customer service, potential legal implications and allows the brand to blossom.

BANKRUPTCY & INSOLVENCY LITIGATION SUPPORT
Our litigation support provides services to counsel in all phases of litigation from discovery through trial. We provide oral, written and witness testimony. We provide debtors significant bankruptcy and insolvency (out of court) services to ensure a successful exit.

EXIT STRATEGY
We provide due diligence and transactional support to operators in a variety of situations. We assist in developing a complete picture of the financial realities of the target business and the opportunities or exit strategies required.   For many operators, ensuring a continued and maximum return on investment is the exit strategy. Ensuring not only a profitable brand today but ensuring long term concept sustainability.   Other operators are seeking sale, acquisition, growth, franchising, licensing or the creation of secondary and tertiary revenue opportunities.

So, when is a turnaround complete? When can the turnaround professional declare victory and go home? While the goalposts have clearly moved, the turnaround process is still all about risk. It is through understanding, identifying, reducing, managing, and monitoring risk that the turnaround process occurs.

HELPFUL RESOURCES:

A Restaurant Turnaround Is Brutal There is nothing we can tell you that could possibly prepare you for a turnaround workout - especially one with so many moving parts, so many legal challenges and so many areas that need urgent attention. The job is not a pretty or indeed a painless one - but it is one we are well versed in.

Operational Restructuring Paves Path To Profitability Restoring profitability isn't rocket science. To be profitable, a company's revenues must exceed its costs. It is a simple formula, and the means to achieving it are well-known: Control cash. Adjust pricing. Renegotiate contracts. Pool purchasing. Reduce personnel expense. Consolidate unprofitable or poorly performing divisions. Shed unprofitable products and customers. Accelerate collection efforts. Restructure the balance sheet.

Turnaround Process Is All About Risk It has been said that turnaround professionals can turn around absolutely any company, regardless of its financial condition, as long as they have enough money and enough time. Of course, it is seldom the case that sufficient time and money for a turnaround are readily available when a crisis manager first arrives on the scene.

For information on how we can assist you with your restaurant turnaround, operational efficiencies or debt workout please contact a restaurant consultant today.

• Existing restaurant concept redevelopment
  Tweaking an existing restaurant concept and making adjustments to increase performance, prepare for growth or create a better margin.

• Existing efficiency and yield management services
  Taking an existing model and using restaurant science to determine areas to increase efficiencies in the process to increase customer volume or average spend. A data and economics based study of your customers and processes.

• Existing turnaround and distress management
  For restaurants suffering from lack of profitability or an unmanageable debt load, turnarounds can provide immediate solutions to curb the losses and navigate towards an exit.

• Existing debt workout
  The renegotiation or amortization of existing debts to pay down on the dollar or extend the terms provided to prevent a burden on cash flow.

• Restaurant Growth, franchising & licensing
  Taking an existing prototype or business model and defining the best route to growth and the legal, operational and management hurdles required of a growth concept.

• Interim Restaurant Management
  Parachute management affords an operator a clean slate with interim management and staff when hurdles exist to prevent change.

• Menu Planning, Development, Pricing & Roll Out
  Creating the correct menu based on your customers demands and the required price points and transaction requirements to ensure a margin. Ensuring the menu has few steps to plating and can be served in volume.

• Systems, Processes and Automation
  The real restaurant profits are in efficiency which stems from automation of your restaurant. Creating an environment based on replication ensures systems exist to prevent problems, errors, theft or waste.

• Beverage Management & Mixology planning
  From pricing to menu design, creating the right product at the right price yet still ensuring a unique product demanded by your customers. Finding the balance between the perfect drink vs time to prepare vs net cost.

• New Restaurant concept design & planning
  Creation of the concept and the design of the profitable business model including price point, guest duration and requirements for profitability.

• New Restaurant business plan & financials
  Taking the restaurant concept and creating the full business plan and projections for internal use or the sourcing of investors for the project.

• New location sourcing and lease negotiations
  Sourcing the location based on the requirements for profitability and the negotiations of the lease to ensure success today and for the long term including TI or rent abatement.

• New design & kitchen planning
  Design and planning of the restaurant for maximum efficiency and workflow, working with the architect or designer to ensure that the sequence comes before the beauty.

• New Restaurant openings
  From licensing's to training to hiring to all the 100's of items that go into a restaurant opening. Ensuring your restaurant opens and is not only profitable from day one but also organized and efficient.