Returning Value Blog

If you are a entrepreneur seeking to buy a franchise these 5 tips may help you ensure you're making the right choice. 

Recently, BDO Alliance USA released their 2014 Restaurant Benchmarking Update. Compiling the operating results of publicly traded restaurant companies, this report looks at costs of sales across all segments for food and beverage.

Machen McChesney has been providing business owners peace of mind by assisting them in a wide array of challenges that exist.  We understand that running a business can present a challenging endeavor for any individual to pursue on their own.  Our professionals have spent years honing expertise in a wide range of business advisory services and will look for ways to add value to your business. 

Strategic planning for the coming year

Do you know where your business budget is?

This is the traditional time to draw up a budget for the coming year. Perhaps the way you previously developed the budget for your business has not been overly successful. Or maybe you have found as the year goes along that certain key factors were ignored or not given enough weight. In that case, the way you usually put together the budget may not be the best approach for your business.

Virtually every business owner will tell you it takes more than one person to build up and maintain a profitable business. In fact, it is likely that several “key employees” have contributed to the success of any given operation. However, while a business owner may be careful to make sure that he or she is adequately insured, the need to protect the business against the loss of key employees is often ignored or disregarded, which is a mistake. 

The “final rule” on overtime pay, long anticipated by the business sector, was issued by the U.S. Department of Labor (DOL) this spring. However, changes in the regulations do not formally take effect until December 1, 2016. Because of that, employers still have time to make the adjustments necessary to be in full compliance.

Comparing C corporations with S corporations

If you are organizing a new business or considering a switch from one to the other for an existing business structure, you may prefer to elect S corporation status for tax purposes rather than a traditional C corporation.

If you’re an employer with full and part-time employees, get ready for potentially big changes in how certain employees may be entitled to overtime pay. The ramifications of new governmental regulations could have a sizeable impact on your bottom line—and if you’re an employer that’s affected, it may not take long to feel the bite.

Important planning tool for business owners

A buy–sell agreement can be critical to a business owner intending to sell the business interest or needing to accommodate other changes within the organization. Typically, it can help ease a transition in leadership to the younger generation. 

Understand and realize the key differences

Don’t be fooled into thinking that cash flow and profit are the same thing. In fact, there are major differences. Cash flow is dynamic and moves daily, while profit is a snapshot of income and expenses at a specific point in time. Understanding this comparison, and acting upon it, can be significant for a small-business operation.