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The pandemic has devastated the hospitality industry over the past three years, leaving many businesses struggling to stay afloat. However, for those hotels and restaurants that have managed to survive, a key factor has been the ability to make quick and decisive changes.
With numerous challenges still faced by business owners, including labor and supply shortages, making informed decisions quickly is more important than ever. To support owners in the hospitality industry, The Largo Group has introduced a new accounting model that provides real-time financial insights and helps decision-makers stay ahead of the curve.
“I truly believe our mission is to give back to business owners the control of their finances so that they can make better decisions daily,” says Anne Gannon, CPA and Founder of The Largo Group. “With over 30 years of operational experience from well-known companies, our team of accountants and industry experts use our own accounting model and unique approaches that proved to be a difference maker for businesses across the country, with over 95% of our clients surviving covid related shutdowns,” she adds.
A weekly perspective on business
The success of The Largo Group is built on the foundation of a team with a shared objective. As specialists in the hospitality industry, they understand the importance of timely and accurate reporting for their clients, which has been made even more crucial throughout the post-pandemic industry recovery.
According to a survey and analysis by the National Restaurant Association, restaurant and food service sales are down $290 billion from pre-pandemic levels, and restaurants are still losing 1.7 million jobs. Making sound decisions faster is one way to get back on track.
With The Largo Group’s Weekly Bookkeeping Service, the team provides a personalized report on how the business is doing each week. P&L reports and income analysis are also shown in detail. Accurate weekly reporting and communicating concerns and questions allow owners to make swift, well-informed decisions.
Individuals and businesses who plan their taxes save 100% more than those who do not.
The team that guides along the way
The Largo Group’s Accelerator Coaching Program is part of the company’s weekly commitment accountability approach. With operations experts boasting years of experience, the program offers a comprehensive approach to supporting business owners.
The 30-day coaching program includes a minimum of 8 Zoom meetings and access to 4 tools that have been shown to make a difference: Cashflow, Budget, Forecast, and Scorecard.
Planning and maximizing tax deductions
Individuals and businesses who plan their taxes save 100% more than those who do not.
The Largo Group’s team of professionals is ready to assist with any tax-related questions. The goal is to provide high-quality tax strategies, ensuring clients receive the maximum benefits from their tax planning efforts. Clients can maximize deductions and increase savings by leveraging the team’s expertise.
A team that truly knows the industry
Accounting may appear the same across the board, but it can vary greatly by industry. Restaurants in the hospitality industry have their own special accounting needs and quirks. Subtle methods may apply in costing, profit-and-loss statements, and cash flow reports, as in other industries.
The Largo Group has an advantage with its tried-and-true accounting model and other services that wholly assist restaurant owners in making critical decisions. The challenges of the ever-changing industry may come at any time, but the Largo Group’s team of experts is driven to help businesses succeed.
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