Coastal Hospitality began with a day of frustration… and a restaurant accountant frustrated at the juggle of reports between franchisees and franchisor. Streamlined? Efficient? Effective? None of the above. She knew there had to be a smarter way to manage reports and financials that let restaurant owners do what they do best – ensuring customers have a fantastic experience.
The restaurant accounting company that launched in 2001 as ASG is now known as Coastal Hospitality Services. Ward Hieronymus left a career in banking to buy the company in 2018 and expand its offerings to not just restaurants but small businesses with the same unique needs. The focus is cost effective, cloud-based, user-friendly foundations that let owners run the restaurant, not the books.
“My years as a lender in community banking were incredibly rewarding, “said Ward. “Building relationships whether a $500 or $3 million loan gave me a sense of purpose in solving problems or helping someone pursue their dreams. You get to know someone well. We develop real friendships with our restaurant clients as well.”
CHS is a Platinum Partner with Restaurant 365: the restaurant -specific software system fully integrated with POS systems, payroll providers, food & beverage vendors, and banks. Financial reports can be accessed as often and with as much detail as needed. Clients can quickly visualize the financial health of multi-unit restaurants so franchisees can focus on improving operations, and franchisors have side by side analytics per location to help each improve its bottom line.
“One of my favorite stories is a client that was paying far too much in shipping for a certain supply. We happened to have another client using the same shipping method…but paying far less. We helped negotiate a much better contract based on that insight and leverage.”
With a broad range of clients across the country over the last 20 years, Coastal’s hallmark is the experience to share when it comes to vendors, typical expenses, or troubleshooting in a variety of sectors. That insight has been invaluable during the catastrophic impact of COVID-19 on the restaurant industry. Ward and team navigated clients successfully through the Payroll Protection Program, CARES Act, SBA loans and more on a state and federal level.
“We work with an amazing variety of clients – from a rockstar cupcake entrepreneur in New York City, to franchise owners with a pub expanding in the Southeast, to a Mexican Cantina chain in Oklahoma. Throughout the country and in all size operations, many of the frustrations are the same. It’s a joy to dive into their challenges and simplify life. None of these folks went to culinary school or dreamed of a restaurant to get sidetracked by bookkeeping. We get them back to the kitchen and the front of the house doing what they love.”
