Allow me to introduce Katarina Railko, a seasoned expert in the hospitality industry with a deep-rooted passion for supporting restaurants through financial and operational challenges. With a background in travel and tourism, and a strong presence in entertainment and events, Katarina has become a trusted voice in the field, often speaking at expos and conferences. Today, we dive into her insights on the importance of specialized financial support for restaurants, the innovative ways to connect operators with the right accounting partners, and the unique challenges that make this industry so distinct.
How did your journey in the hospitality industry lead you to focus on the financial needs of restaurants?
My journey started in travel and tourism, where I saw firsthand how critical financial management is to any hospitality business. Restaurants, in particular, caught my attention because of their unique blend of operational complexity and tight margins. Over the years, I’ve worked with operators who struggled to find accounting support that truly understood their business—whether it was dealing with inventory costs, labor fluctuations, or seasonal cash flow. That gap inspired me to advocate for platforms and solutions that connect restaurants with specialized financial experts who can help them not just survive, but thrive.
What are some of the biggest financial hurdles that restaurants face compared to other businesses?
Restaurants operate in a high-pressure environment where margins are razor-thin—often just 3-5%. Unlike many other industries, they deal with perishable inventory, which means waste can be a huge cost if not managed well. Labor costs are another beast; they’re often unpredictable with turnover and scheduling challenges. Then you’ve got the seasonality of the business—some months are booming, others are dead. Without a financial partner who understands these nuances, it’s easy for a restaurant to spiral into debt or miss growth opportunities.
How can a specialized platform make a difference for restaurant owners looking for the right accounting support?
A dedicated platform acts as a bridge, taking the guesswork out of finding an accountant who gets the restaurant game. Instead of owners spending hours searching for someone, hoping they’re the right fit, a platform curates a network of firms with proven expertise in this space. It’s about matching needs—whether it’s tax planning for a small diner or scaling strategies for a multi-unit chain—with professionals who’ve been there and done that. It saves time, reduces risk, and sets the stage for real financial stability.
What qualities do you think are essential in an accounting firm that serves the restaurant industry?
First and foremost, they need deep industry knowledge. That means understanding things like prime cost analysis, menu profitability, and how to navigate food cost variances. They should also be proactive—anticipating issues like cash flow crunches before they hit. Flexibility is key too; a firm should be able to tailor their services to a single location just starting out or a growing franchise with complex needs. Ultimately, it’s about being a strategic partner, not just a number-cruncher.
Can you share a memorable example of how the right financial guidance transformed a restaurant’s trajectory?
Absolutely. I recall working with a mid-sized restaurant group that was on the brink of closing a location due to consistent losses. They connected with an accounting firm that specialized in hospitality through a curated network. The firm dug into their numbers, identified inefficiencies in their supply chain, and restructured their labor scheduling. Within six months, that location turned profitable, and the group was able to reinvest in expansion. It showed me how the right financial partner doesn’t just fix problems—they unlock potential.
How does the personal experience of having operated in the hospitality sector influence the way you approach helping restaurant owners today?
Having been in the trenches myself, I know the stress of juggling operations while trying to make sense of the books. I’ve felt the frustration of not having the right financial advice at critical moments. That drives me to ensure restaurant owners have access to experts who speak their language and understand their daily grind. It’s not just about numbers; it’s about building trust and providing solutions that let operators focus on what they do best—creating great food and experiences.
What role do you see technology playing in connecting restaurants with financial expertise in the coming years?
Technology is a game-changer. Platforms that use smart algorithms to match restaurants with accounting firms based on specific needs—like location, size, or growth goals—are already making waves. Beyond that, tech can streamline communication and data sharing, so operators get real-time insights from their accountants. I also see automation playing a bigger role in handling routine tasks like payroll or inventory tracking, freeing up financial experts to focus on strategy. It’s about making specialized support more accessible and efficient.
What is your forecast for the future of financial support in the restaurant industry?
I believe we’re heading toward a future where specialized financial support becomes the norm, not a luxury, for restaurants of all sizes. As the industry gets more competitive, operators will increasingly rely on tailored accounting expertise to stay ahead—whether it’s optimizing costs, navigating regulations, or planning for growth. I also think we’ll see more integration of tech-driven solutions, making it easier for restaurants to connect with the right partners and access data-driven insights. It’s an exciting time, and I’m optimistic that with the right tools and networks, restaurants will be better equipped to tackle whatever challenges come their way.
