Food and Beverage Practice Group
Food and Beverage companies present some of the more complex finance, control, reporting and accounting challenges. You face the normal barriers to profitability and success: cost control, administration efficiency, and sales. But in addition, the simplest consumer products company blends ingredients, process, packaging, labor and transportation to enable revenue recognition. When manufacturing is in-house, the company must also deal with recipes and assemblies while controlling climate, infestation, and process control, all to be performed with inventories managed to prevent spoilage, over invested capital and violations of important and increasingly stringent government and customer safety regulations. At CFOs2GO we have successfully worked in these environments with dramatic increases in top line revenues and in profitability. The experience gained from working through these processes are provided to our clients to assure the solutions substantially increase profitability and allow increased gross income.
Practice Leader – Jack Doty
Jack leads the Food and Beverage Practice Group at CFOs2GO. He has held CFO and executive level positions in food manufacturing and distribution including an entrepreneurial role expanding Watlington Foods to over 150 Bay Area stores and international expansion, saving Granny Goose Foods from a WARN notice and taking its $3MM loss on $35MM sales to $5MM profit on $105MM sales and restructuring a fifty-year-old chocolate company to re-establish sales at $6MM within three years. In packaged consumer goods, he placed a local coffee company into Safeway, provided grocery placement for local cake and cookie companies, and provided strategic, sales and financial planning for several well-known brands, including TCHO Chocolates.
Jack is an active member of the Specialty Food Association and the Fine Chocolate Industry Association as well as professional financial organizations such as the Institute of Management Accountants.
Recruiting Expert – Mwape Jokic
Mwape is the Food and Beverage Recruiting Expert at CFOs2GO. She has over 6 years of experience as a Concessions Manager and Hospitality Manager, and as a recruiter specializes in restaurants, food service, hospitality, and related industries.
She is a team player demonstrating a high-level of accuracy and thoroughness; frequently acknowledged for her aptitude to work independently as well as collaboratively and take initiative, ownership, and accountability.
Her clients and candidates benefit from her personalized service, experience, and passion for her work. Her knowledge of the candidate marketplace, the food & beverage industry, and best practices in recruiting allow her to offer direction and acumen along the way. Mwape speaks Chinese and has studied French, Spanish, Zulu and Afrikaans.
Who We Serve
Successfully getting and more importantly expanding shelf space are a constant challenge that must be accounted for in your financial planning, reporting systems and chart of accounts. We have the expertise and experience to develop end-to-end systems fully integrated into your overall financial plan.
Successfully managing a restaurant is challenging but pales in comparison to the financial issues faced by restaurant groups. Staffing challenges with the associated payroll and benefit administration, accounting for credit card fees, integrating point-of-sale systems into the primary accounting system, and portion control are all present. We have in-house recruiting as well as interim and part-time senior financial expertise who know how to help.
How do you stay current? Organic, diet, gluten free, e-commerce competitors, sugar free, fat free; your brand is under constant attack. Are your financial plan and systems helping win the fight? We can make sure they are, from inventory process to work-in-process controls.
The CFOs2GO model allows a cafeteria style array of offerings. While all assignments customarily commence with the New Client Assessment, the following services are available as desired by the client and recommended by a CFOs2GO Consulting CFO.
- Accounting program and systems upgrade designed for the Food and Beverage industry including accounting manual preparation
- Banking relationships setup and assistance for food manufacturing, distribution and restaurants
- Financial business and product planning
- Cash management systems including credit card management and security, point of sale terminal integration to financial systems and inventory management, control and replenishment
- Manufacturing and distribution capital equipment upgrade budgeting
- Distribution Systems
- Import and export guidance specific to country food safety regulations
- Long term financial modeling of Food and Beverage industry including multi-year forecasts and plans
- Other Food and Beverage focused capabilities of our consulting CFOs:
- Manufacture-to-order systems
- Material and ingredient sourcing systems
- Packaging procurement systems
- Purchasing systems and controls
- Real time reporting systems
- Real time work-in-process systems
- Sizing – Costing – Pricing templates
Successful Client Engagements
- Working with a local boutique coffer producer successfully placed and negotiated shelf space with Safeway Stores leading to increased profitability.
- Provided grocery placement for local cake and cookie companies.
- Lead strategic, sales and financial planning for several well-known brands, including TCHO Chocolates.
- Restructured a fifty-year-old chocolate company to re-establish sales at $6MM within three years including modernizing financial systems.
“I’ve worked with Jack at the Association for Corporate Growth initially and later at Bedrock Dissero, a management consulting firm. I’ve always found Jack to have the highest integrity and forward thinking. I hope we get a chance to work with each other in the future.”