Start Strong in 2025

Ah, January. The time of year when inboxes are flooded with advice on setting goals, sticking to resolutions, and “making this your best year yet.” But let’s be honest – as a restaurant owner, your January feels more like crunch time than a fresh start.

New years are likely a whirlwind of finalising year-end accounts, preparing tax returns, and grappling with how to cover holiday bonuses and Christmas expenses – all while keeping your business running smoothly.

At MSF, we know that running a food business is about much more than numbers – it’s about passion, reputation, and serving your community while supporting your family’s future. So, while the world is talking about “New Year, New You,” let’s focus on what really matters as you step into 2025.

1. Are Your Finances Ready for the New Year?

January is the perfect time to take stock of your finances – not just your inventory. Many food businesses have unique systems for tracking revenue and costs, but when it’s time for HMRC, those methods might not cut it.

If you’re still using handwritten logs or spreadsheets that only you understand, consider upgrading to cloud-based accounting software. These systems streamline cash flow tracking and allow us to collaborate with you in real time, helping to prevent financial surprises before they occur.

2. Tackling Taxes: Don’t Leave It to the Last Minute

Tax season doesn’t have to be as daunting as a kitchen rush during Friday night dinner service. If you’ve been putting off your self-assessment, now’s the time to act. Missing deadlines not only risks fines but adds unnecessary stress.

As specialists in the food service industry, we understand how personal and business finances often overlap. Whether it’s managing dividends, director loans, or separating business expenses from personal ones, we’ll help you untangle the complexities and stay compliant.

3. Growth Plans: Cook Up a Recipe for Success

For many restaurant, café, and takeaway owners, growth is about more than profits – it’s about sustainability, consistency, and balancing work with life.

Emerging trends like sustainability, local sourcing, or even delivery-first models present opportunities for growth. If you’re considering expanding, diversifying, or even preparing for succession, we can help with forecasting and budgeting to ensure every move is a calculated one.

4. Your Team: Support Them, Support Yourself

Your team – whether it’s your kitchen crew or your family members – plays a crucial role in your business’s success. January is an excellent time to review their roles, responsibilities, and rewards. Are they being compensated fairly? Are there opportunities to offer training or incentives?

And don’t forget about yourself. As a business owner, you’re likely wearing multiple hats, which can lead to burnout. We can help identify tasks that could be delegated or automated, giving you the breathing room to focus on what you do best.

5. Build a Strong Financial Foundation for 2025

We’re not here to push New Year’s resolutions – we know your plate is already full. But if you make time for one thing this month, let it be a conversation with us. Whether you need to streamline your accounts, plan for growth, or simply get tailored advice, we’re here to guide you through the challenges and opportunities of 2025.

We specialise in working with restaurants, cafés, and takeaways, so we understand the unique financial hurdles of the food service industry. No jargon, no fluff – just practical, industry-specific advice to help your business thrive. If you're interested in finding out more about how we can help your restaurant become more profitable,  book a call with one of our accounting experts or call us on 0113 240 4100.