Running a business in the food and beverage industry can be exciting yet challenging. You’re facing a new era of operations brought on by evolving consumer preferences, governmental regulations, and economic shifts. From small cafés to multi-location restaurant chains, or locally-sourced farms to large food distribution companies, keeping pace with these changes can impact the profitability of your business. But with the right ingredients, we can help you serve up success. Withum’s Food and Beverage Team works with companies who are hungry for growth and looking to innovate to stay relevant while staying true to their brand.
Restaurant/Food and Beverage Industry Trends and Challenges
Trends in consumer behavior and desires can change by the season, which can impact your bottom line very quickly.
A shift to online retail has forever changed the way businesses interact with their customers. Social media platforms are proving as effective ways to quickly learn and engage with consumer’s wants and needs.
Governmental boards want to ensure you meet regulatory standards. Food safety, factory automation, and research and development are necessary areas of focus.
Seamlessly delivering your products into the hands of the consumer is the ultimate goal. Maintain inventory and manage cash flow for the food and beverage manufacturing and distribution sector within your supply chain to achieve operational efficiency.
Regulating inventory is a constant balancing act. Businesses need proper inventory management systems to ensure goods are ordered appropriately and used timely to prevent wasted produce and money.
Offering recipes for growth that keep you on-trend in the food and beverage industry.
Restaurant, Food and Beverage Accounting Services
Restaurant, Food and Beverage Advisory Services
Insights for You
Major government programs like the Paycheck Protection Program (PPP) and the Restaurant Revitalization Fund (RRF) are no longer open for business. Yet one government program – the Employee Retention Credit […]
Share The food and beverage industry has experienced a rollercoaster ride over the past 15 months of the COVID-19 pandemic. Most in the industry believed their toughest struggles would be […]
Share The Restaurant Revitalization Fund (RRF) was part of the American Rescue Plan Act of 2021 and included $28.6 billion of relief targeted to small restaurants with priority given to […]