Inside The World Of Restaurant Finance
Navigating restaurant financials is no small feat. Businesses that will succeed are businesses that know how to keep an eye on the bottom line. If you’re new to the business, looking to expand or need a refresher on the finer points, this session will breakdown the basics of financials and projections for restauranteurs.
Bill Penczak is a long-time foodie who travels the world as an excuse to sample great food. His day job is to run the marketing and sales functions for the 3rd largest independent CPA and consulting firm in Houston, Briggs & Veselka. Prior to joining the firm, Bill was a marketing consultant for a variety of clients, including QSR, fast casual, and fine dining concepts. Bill will be playing the role of moderator/translator of the financial aspects of running a successful concept, where the left brained CPAs on the stage will communicate to the right brained operators in the audience.
Started my own practice over 25 years ago. Before that I was Controller for McDonald's in the Houston Region. I was responsible for approving store sales between franchisees and monitoring the financial condition and net worth of the franchisees. (approximately 85% of the stores are franchised). My practice is 100% concentrated in the restaurant industry. My firm prepares financial statements & tax returns for over 250 restaurants. I also assist clients in obtaining bank loans and preparing business plans to present to the bank or potential investors. My clients include fast service to full service restaurants.
Christa is a dedicated hospitality niche leader and has been passionately servicing this industry for 8+ years. She has provided services for quick service restaurants, fine-dining, franchises, food distributors, and retailers. Her technical experience in this industry includes providing quality services in audits, reviews, compilations, employee benefit plan audits, agreed upon procedures, technical accounting, and reporting in both IFRS and U.S. GAAP. Christa is an active member of the Texas Restaurant Association and its local chapter, Greater Houston Restaurant Association. In her spare time, Christa is also an adjunct professor at the University of Houston Downtown lecturing in auditing and intermediate accounting courses.