For The Landlord, Investor, Bank or Professional
For the third party seeking to ensure a restaurant operation provides transparent and accurate reporting on a regular basis, continued legal compliance, good corporate governance and is implementing efficient operations and maximizing returns for the betterment of the business overall.
For those with a financial stake in a restaurant operation, monitoring the business is a right, not a privilege.
How does a bank extend a line of credit, an investor provide financing or a landlord provide TI or gross rent and ensure adequate protection over and above a personal guarantee? Affording an investor select rights should a business fail is common place and generally contractually agreed however when an investment has been made, the need to prevent failure is equally if not more important. It is important to be protected if the business fails but better to avoid that failure in the first place.
The veiled threats of bankruptcy, ABC or hardship are common threats in the sector – common whether or not the economic climate is as challenging as the current state of the global economy. The third party should have a partner who not only understands the restaurant business intimately but also the hurdles and challenges that can be expected and the returns that should be generated for all parties.
The operator of a restaurant is required to operate the business in the best interests of all shareholders. Growth opportunities, licensing options and tertiary revenue streams that originate at the restaurant are part of the restaurant. OnSite is a positive partner, showing all involved the commitment to success and aligned interest of both parties.
The OnSite Difference
OnSite Consulting is a company built around performance: performance for clients. Your continued success is our continued success.
We are a company based with data analysis, risk mitigation and practical and accessible experience at our core. These skills provide the insight, experience and recommendations that are required to ensure your needs are met, any challenges or problem(s) resolved and any operating errors do not go unnoticed.
Operations monitoring is more than mere reporting. It is constant monitoring of data not only to look at the past but also to assist the future. This monitoring serves to mitigate a problem before it happens and ensure constant improvement and efficiency in the business for profit maximization and throughput. Data gives us many of the answers – how can the venue do better and how can we assist in ensuring common pitfalls are avoided?
Working hand in hand with the operator, or behind the scenes with the third party, we can provide the appropriate recommendations and set attainable and reasonable expectations for all involved.
For The Third Party
Building a foundation that lets the third party non operator focus on what they do best – their own business. By partnering with an independent expert who will implement the right processes for auditing and risk mitigation, the non-operating party can be sure that an experienced team is monitoring their investment which is critical to ensure an appropriate return as well as alternatives, when performance requirements are not met.
The requirement for an independent third party who understand the market place, the specific concept and has sufficient global experience to provide market comparisons are all geared towards ensuring a successful third party and restaurant operator relationship.
We can work with you to define what specifically you are looking to accomplish and determine how we best can meet or exceed your needs with a performance driven model that creates a win-win. Additionally, in conducting an introductory business, we will often spot flaws in the model that need fixing.
We are not your vendor: We are your restaurant specific professional able to give you the right answer, the first time round.
The Opportunities
Despite the myriad of third parties involved in restaurant operations, the key for a financial partner typically revolves around ensuring not only profitability but also distribution. In many cases, having hands on advisers who understand the business you have invested in means that when ‘things aren’t working’, OnSite can step in and correct any problems. We will already know the business. Additionally, if there are key performance indicators or benchmarks that the venue operators have committed to reaching and these are not met, you have the right team behind you to ensure this gets fixed.
All venues have unique qualities, all transactions have different dynamics and all parties find their own methods of working together. Whether the operator is part of the process or part of the problem, whether our requirements are behind the scenes to provide insight and knowledge directly to the third party or as operators for the unit, we have a proven track record in all these areas.
We know we need to provide a streamlined, seamless service to meet the needs of the operator and the third party and to ensure a long term successful partnership. Using OnSite let’s all parties focus on their core strengths but brings an independent third party to the table who can assist in achieving the ultimate, aligned requirements of profitability – and in some cases growth or licensing.
