GO
GO THROUGH SO MANY CHANGES JUST TO SURVIVE RIGHT NOW FROM DELIVERY SERVICE TO CREATIVE
OUTDOOR SETUPS. BUT FAST
ACTIONS AREN'T ALWAYS ENOUGH TO
SAVE BUSINESS. CYDNEY LYNN FROM
RESTAURANT SOLUTIONS ZINK JOINS
US TO SHARE HOW THEY'RE HELPING
OUR FOOD INDUSTRY FRIENDS AND
SPEAKING FRIENDS. KELLY COMFORT
ZONE SHAWN WALSH CHEF IS HERE
AS WELL HERE THIS MORNING. GOOD
MORNING TO YOU BOTH. MORNING.
GOOD MORNING. THANKS SO MUCH
FOR BEING HERE. CINDY, LET'S
START WITH YOU. LOOK, WE HAVE
SEEN RESTAURANTS THE ABILITY TO
PIVOT HAS BEEN MINDBLOWING WITH
THEIR TAKE OUTS, THEIR CREATIVE
OUTDOOR SEATING. BUT KNOWING
THAT THEY'RE STILL NOT MAKING
THE REVENUE THEY DID BEFORE
OCTOBER 19 IS VERY DIFFICULT
FOR THEM. SO HOW CAN RSI HELP
THESE RESTAURANTS OUT NOW?
THERE ARE OBVIOUSLY GREAT
QUESTION TO BE ASKING
RESTAURANT SOLUTIONS IS A COST
EFFECTIVE RESTAURANT MANAGEMENT
AND ACCOUNTING SYSTEM AND
SERVICE PLANNING INDUSTRY
EXPERTS FAR SPECIFICALLY
INDEPENDENT RESTAURANTS, QUICK
SERVICE FRANCHISES FROM LARGER
SINGLE AND MULTI UNIT CONCEPTS
.WE'VE BEEN HELPING OWNERS AND
OPERATORS SUCH AS SEAN KELLY
COMFORT FOR THE LAST 20 YEARS
PARTNERING WITH THEM AND
PROVIDING THE DATA AND
THE FINANCIAL UNDERSTANDING
THAT THEY NEED TO CREATE
ACTIONABLE INSIGHTS AND
ULTIMATELY INCREASE
PROFITABILITY. SO WHAT ARE
THE KEY THINGS YOU KNOW WE'VE
BEEN DOING FOR OUR CLIENTS AND
SEAN, IT IS REALLY HAVING TO
LOOK BACK AT THE FINANCIAL DATA
TO BE ABLE TO HELP THEM DECIDE
HOW THEY'RE GOING TO PIVOT AND
HOW THEY'RE GOING TO BE ABLE TO
SURVIVE THROUGH A IT. AND PART
OF THAT REALLY IS DOING AN
IN-DEPTH BREAK EVEN ANALYSIS
REALLY HELPING AN OPERATOR
DETERMINE THE MINIMUM SALES AND
COST STRUCTURE FOR STAYING
AFLOAT UNLIKE A PERFORMER OR A
BUDGET. A BREAK EVEN ANALYSIS
COMBINES BOTH THE OPERATIONAL
SALES AND COST TARGETS AS WELL
AS BALANCE SHEET TO DETERMINE
THE OBLIGATIONS TO DEMONSTRATE
THE BARE MINIMUM NECESSARY TO
ACHIEVE PROFITABILITY AND CASH
FLOW. SO WITH THAT WE DID IT
ALSO UNDERSTAND THE REVENUE PER
SEAT. TRADITIONAL METHODS HAVE
BEEN FACING FORECASTING REVENUE
BY SQUARE FOOTAGE AND GOING
BASED OFF OF THE SEAT CAPACITY
DUE TO LIMITED CAPACITY
RESTRICTIONS THAT THE STATES
HAVE PLACED. REALLY BEING ABLE
TO PROJECT SALES BASED OFF OF
THAT SEAT CAPACITY IS WHERE
THE RESTAURANTS NEED TO PIVOT
TO REALLY UNDERSTAND WHERE THEY
NEED TO BE MOVING OR THOSE ARE
JUST SOME SPECIFIC WAYS THAT
WE'VE BEEN HELPING WITH THAT.
SHOT HERE USUALLY ON THE SHOW
YOU KNOW, FEEDING OUR ENTIRE
STAFF WITH YOUR WONDERFUL
BARBECUE AND BRINGING US LOTS
OF SMILES AND GOOD STUFF. BUT
WE'RE YOU KNOW, YOU'RE ON
THE SHOW HERE TO TALK A LITTLE
BIT MORE SERIOUS STUFF HERE. I
MEAN HOW RSI HELPED YOU OUT? I
MEAN BALANCING THE BOOKS. IT'S
A LOT FOR THESE BUSINESS OWNERS
TO DO RIGHT NOW WHEN THERE'S A
LOT OF UNKNOWNS. YEAH.
RESTAURANT SOLUTIONS THEY'RE A
RESTAURANT SPECIFIC FINANCIAL
TECH COMPANY AND THEY REALLY
HELPED US, YOU KNOW, BACK IN
2012. WE WERE TRYING TO FIGURE
OUT HOW DO WE MAINTAIN
PROFITABILITY AND FIGURING OUT
A WAY TO HAVE A WEEKLY PROFIT
AND LOSS STATEMENT WHICH IF
YOU'RE A LARGE CORPORATE
RESTAURANT OR A RESTAURANT
GROUP YOU HAVE THOSE TOOLS FOR
YOURSELF RESTAURANT SOLUTIONS.
THEY HELP THE INDEPENDENT. SO
THEY HELPED ESTABLISH SYSTEMS
PROCEDURES, FINANCIAL
ACCOUNTABILITY, BUDGETING,
THINGS THAT ALLOWED US TO
REALLY GROW OUR BUSINESS. ONE
UNIT IN SPRING VALLEY FROM 2012
UP UNTIL NOW AND MORE
SPECIFICALLY DURING CORONA
VIRUS. YOU KNOW THE THING THAT
SYDNEY RESTAURANT SOLUTIONS DID
WAS THEY ALLOWED US TO LOOK AT
ALL EVERY SINGLE EXPENSE LINE
ITEM. UNDERSTAND WHAT WE NEEDED
TO CUT WHAT WE COULD CONTINUE
TO PAY FOR AND ALSO UNDERSTAND
NOW THAT WE WERE TRANSITIONING
TO A DIGITAL RESTAURANT
SOMETHING THAT WE WERE ONLY
GOING TO BE DOING ONLINE MOBILE
FIRST TAKE AS WELL AS THIRD
PARTY DELIVERY. THIS WAS WHEN
WE COULDN'T HAVE ANY DINERS IN
OUR RESTAURANT. FIGURING OUT IS
THAT PROFITABLE? ALL RIGHT. IS
THAT PROFITABLE? IS THAT
SUSTAINABLE? AND I THINK THAT'S
REALLY THE MOST EXCITING THING
THAT'S HAPPENED FOR US IS IN 12
YEARS WE'VE NEVER ACTIVELY
PURSUED OPENING ADDITIONAL
LOCATIONS BECAUSE OF RESTAURANT
SOLUTIONS. WE ARE NOW LOOKING
AT DIFFERENT DIGITAL
RESTAURANTS, GHOST KITCHENS AS
WELL AS COOL RESTAURANTS
BREAKOUTS BREAKING NEWS HERE
WHERE THAT LOCATION IS GOING TO
BE. SO RIGHT NOW THE FIRST
LOCATION WE'RE GONNA BE OPEN IN
HIS BARRIO LOGAN AND THAT'S
GONNA BE TECHNICALLY A GHOST
KITCHEN. WE LIKE TO CALL IT A
FRIENDLY GHOST. IT'S GOING TO
BE FOR TAKEOUT AND THIRD PARTY
DELIVERY ONLY. I'LL CALL IT
I'LL CALL IT THE FRIENDLY AND
TASTY GHOST IF YOU DON'T MIND.
THANK YOU. SYDNEY, REAL QUICK.
WE GOT TO WRAP IT UP, GUYS. BUT
SYDNEY, TELL US WHERE WE CAN GO
TO LEARN MORE INFORMATION AND
THE OFFERINGS AND SERVICES THAT
YOU PROVIDE. YEAH, ABSOLUTELY.
YOU CAN JUST VISIT US DIRECTLY
AT OUR WEBSITE RESTAURANT
ACCOUNTING SERVICES DOT COM.
YOU'LL FIND ALL OF
THE INFORMATION, ALL
THE DIFFERENT SERVICE LEVELS
AND PACKAGES THAT WE OFFER AND
I ENCOURAGE YOU TO CHECK IT OUT
AS QUICKLY AS POSSIBLE BECAUSE
THE RESTAURANTS ARE IN
DESPERATE NEED. YEAH, THEY ARE.
REALLY APPRECIATE IT.
APPRECIATE YOUR TIME BOTH OF
YOU HERE THIS MORNING. GREAT
SERVICE YOU GUYS PROVIDE AND