Source: Found hereTwenty-five years in a Louisville-based coffee service business made Bob Patterson keenly aware of restaurants' bottomless need for help managing cash flow. And a dozen years ago he developed a recipe that satisfies restaurateurs.
Patterson ⁘ Co. is a nontraditional accounting firm that caters to restaurant clients. "I saw the need through 25 years in the coffee business," Patterson said. "I kept hearing different things like, 'The bookkeeper is stealing from me!' The CPA doesn't like to do restaurants because they're harder; that's true.
"I had the idea that we could be a one-stop financial shop for restaurants because typically the accounting part of it gets pushed off to the end. They're trying to do it themselves and they're hamstringing themselves by not taking advantage of the tools that are available to help them understand their business and work through issues and work through change."
Beginning as a one-man operation, Patterson ⁘ Co. has grown to a staff of 22, including nine certified public accountants. Their aim is to let the restaurateur fill their plate with food service and satisfying customers without having to worry about the accounting.
They serve roughly 200 restaurant companies, primarily in Kentucky, Tennessee, Mississippi, Alabama and Indiana. Many are multiunit but some are single restaurants. They also advise the energetic optimists opening new food businesses.
"We're going to do payroll, pay the bills, issue financial statements and do tax planning and file their tax returns. We do it all for a fixed fee," Patterson said. "We've been very fortunate."
