How Depreciation Schedules Can Add Value To Your Restaurant

Описание: One of the least spoken areas of a restaurant operation is a depreciation schedule. Many operators don't really take much notice of it, but is more important than you think let's discuss this right now. In my travels, I've seen thousands of restaurants and the balance sheets. And when trying to assess what a restaurant is worth.

[00:00:25] I look at various aspects, the lease profit loss, the wages, et cetera, and depreciation schedule. It's like, it all seems to be like an afterthought. Something has been put there. Halfheartedly. Sometimes it's hardly has hardly put there at all. Now it's a part of educational thing. Now, when you sell a restaurant business, when you business that matter, You've got the Goodwill and you've got the equipment.

[00:00:56] So the equipment can have a large [00:01:00] chunk of the sale, but it is poorly looked at, not assessed properly many times. And ultimately it could cost many thousand tens of thousands, even hundreds of thousands of value when it comes to selling the business.

[00:01:20] The major part is when that is done. It's done. I found most times fairly poorly, surprisingly most depreciations seem to me to be done poorly as in very low. So I would suggest. And I recommend to my clients that they speak to their accountant, who understands the restaurant industry. Who's experiencing their industry and look at appointing a qualified quantity, surveyor in the restaurant industry [00:02:00] to go through all your equipment to make sure you are getting the necessary text deductions.

[00:02:06] Because when it comes to getting selling a restaurant, you know, it works on how much money it's making. So the tax write offs help your bottom line and the multiple and consequently the selling price. But this video's not meant to be a taxation advice on how you should do your books or depreciation schedule.

[00:02:31] Just to raise an awareness that it's worthwhile getting a quantity surveyor in to ensure that you are getting the maximum benefits from your equipment in your restaurant. So I'd speak to your accountant and then discuss it with a quantity surveyor because ultimately it would cost you. At the end, when it comes to selling,[00:03:00]

[00:03:00] what are your comments? How's your depreciation schedule? Like, are you comfortable with it? Have you covered everything in there? Have you checked with your accountant that you get in the right deductions and more money in your pocket? End of the year.

I Like to hear comments.

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