The hospitality industry, particularly restaurants and food businesses, has undergone significant change due to the impact of the pandemic. Many owners have taken innovative measures to enhance customer experience by adopting contactless payment schemes, online ordering, and technology to address the labor crisis.
The Largo Group, a Philadelphia-based accounting firm, has pioneered a simple yet well-thought approach to help restaurant owners take complete control of their business from labor, expenses, and internal operations.
A mindful and swift approach
Anne Gannon, a seasoned CPA and founder of The Largo Group, emphasizes the importance of efficient accounting services in the fast-paced nature of the hospitality industry. “A month is too long for owners to see how their restaurants are performing, and this has never been clearer at the onset of the pandemic,” says Gannon.
To address this issue, The Largo Group developed a unique approach known as the Weekly Bookkeeping Service, which eliminates the “busy season” that stems from the traditional accounting model. This weekly accounting service provides owners with accurate reports to help them make informed decisions daily. Gannon emphasizes that The Largo Group is more than just accountants for their clients. They are an extension of the client’s operations, helping to build long-term sustainable growth and achieve lasting success.
In addition to providing reports, The Largo Group’s dedicated operations experts are available for coaching calls to discuss budgets, forecasts, labor, and cash flow to ensure business owners are on the right track.
Adapting to digital innovations
Ordering kiosks are gaining popularity in the restaurant industry as they significantly improve operational accuracy. Recent research predicts that the self-service market will reach $30.8 billion by 2024 due to its ability to reduce labor costs, limit human error, and increase the average check.
On the same line, The Largo Group has maximized the use of technology to provide owners with exclusive content in the form of webinars, courses, and other resources from its academy. The Monday Mastermind online series and the Shotmaker Podcast are two digital contents that Gannon hosts herself. In these programs, she answers crucial and frequent questions business owners have and shares the experiences of her guests. The firm has also adapted to ordering restaurant kiosks to improve operational accuracy.
Helping clients expand their businesses
The Largo Group’s revolutionary approach has helped restaurant owners take full control of their business from labor, expenses, and internal operations. The firm’s dedication to providing owners with accurate reports, coaching calls, and digital content has helped 95% of its clients survive pandemic-related shutdowns.
“We are motivated to help the hospitality industry and want to be known as the go-to resource for restaurant owners. Our expert team is capable of helping increase the revenue of our clients and create a realistic long-term plan for their success,” says Gannon.
The Largo Group continues to extend its work with two new programs for the new year: Accelerator Coaching and Franchise Accelerator, two systems that aim to help owners expand their businesses.
