Focusing on Real Estate
Regardless of how your business has been impacted, reconsidering the real estate needs of your business at this time is a reasonable move.
If working from home has become a more viable option for your business long-term, your need for space may be significantly reduced which then directly impacts your real estate needs and associated costs.
If your business is significantly impacted by the current economic environment, lease document review is even more critical to understand payment obligations and protection rights, especially those related to the following:
- Timing of rent payments
- Cure periods
- Force majeure
- Landlord obligations
- Co-tenancy provisions
Where You Can Benefit
Depending on the wording of the lease, rent reduction, temporary rent relief, or lease termination based on current economic events may be possible.
Leaseholders face as much uncertainty as other businesses, and partnering with the leaseholder may lead to a stronger business relationship that supports your business plan.
Landlords need to maintain occupancy, even if that means lower rents, shorter lease terms, or other concessions.
Leaseholders will often work with you to ensure continued revenue streams.
Regardless of your situation, opening a communication channel creates a better opportunity to facilitate positive outcomes for both parties.
Our Part of Your Solution
Our B&V CFO Advisory solution provides experienced Controllers and support team members with experience in cash flow analysis and establishing best practices.
Whether supporting your accounting team or serving as your outsourced accounting and finance function, we assess the issues, choose the best solution option available, transition into solving the issue and engage in the process.
Our experience has shown us that our CFO Advisory services generally represent 60 to 75% of the cost of a fuller sourced, on-site accounting controller’s salary, benefits, and bonus.
We engage our clients with a highly experienced team at a fraction of the cost of an in-sourced team.
Our dedicated CFO / Controller, Accounting Manager and support staff is always there to answer questions, provide a structured control environment to protect your assets, and focus on helping you understand and mitigate your financial and operational risk.
If you are a service-based business:
- In need of financial expertise and guidance,
- Desiring a cost effective alternative to a full time Controller / CFO
Our B&V CFO solution may be the best option. Our aim is to take care of your strategic finance and accounting needs so that you can take care of your business.
Interested in our CFO / Controller Advisory Services? Call us at 713.667.9147 and ask for Kevin Stewart or Jana Kelly to schedule a free 60-minute consultation.
About the Author
Kevin Stewart is an accounting executive within professional services, public and private growth companies.
He has 20 years of experience turning around and building accounting and finance teams to fix the sins of the past, stabilize the now and create organizations to support growth.
His deep finance, accounting and compliance expertise helps business owners focus on what they do best – run and grow the business.
As your Chief Profit Officer (CPO), he will help improve your profits by focusing and advising on the controllable financial aspects of your business.