Rosemary had a plot twist when she swapped architecture for hospitality
Rosemary Woods changed her plans when she closed the door on architecture to start a hospitality brokerage.
Watch F&B Hospitality's story
Change of plan
Rosemary, along with her business partner and chef, John Alvarez, launched F&B Hospitality Group in Windsor, and now run a number of hot spots in the area.
When Rosemary and John got down to business, they realized they had a lot to learn about accounting. Rather than letting reports and taxes scare them off, they turned to Hawkins and Company, who have been their accountants ever since.
In case of fire
With the help of professional accountants, Rosemary was introduced to a whole new world of accounting, otherwise known as Xero online accounting software.
“I was pretty naive when it came to accounting, so we really left it up to our accountants to find the best match for us, and they introduced us to Xero. It’s the perfect solution.”
As there are so many restaurants under F&B’s belt, having one source of truth is very important. And as Rosemary, John, and their accountants each have access to Xero, they’re able to check on all things business when it suits them.
“Anyone that has a restaurant knows there’s always a fire to put out someplace. Xero has really given me time to react to things. I don’t have to worry about going back to my books later – it’s all managed for me. But I really do like looking at the numbers and seeing where we’re at and projecting where we’re going to be.”
What’s your time worth?
Rosemary has come to learn and love the wide range of the features Xero has to offer.
“I really like the dashboard. I can customize it to see what I want, take a quick look and see where all my accounts are. It really is a one-stop shop where all my account information comes together.
“I also really like invoicing. It’s very easy for me to put one together and see what’s been paid and what’s not. Xero’s just invaluable for the amount of time it’s saved me.”
With the help of Xero, Rosemary has saved a ton of time and gained a deeper understanding of each of her businesses.
“I really like to let our business grow organically and Xero allows us to do that. It definitely gives us a lot more time to focus on other aspects of our business. We can see what’s working and what isn’t, in a relatively short amount of time.”
Not so risky business
Rosemary and John took a risk when they teamed up to enter the competitive yet delicious hospitality market. But with the right attitude and some helping hands, they nurtured F&B Hospitality into the empire it is today.
“When I’m in Xero, I think, “I can do this”, and it’s great – it’s a learning curve. Xero is very user-friendly. That’s why I continue to recommend it to other business owners – I just really enjoy the ease and that it’s so simple.”
Perhaps when it comes to business, the most important ingredient of all is being open to learning. Numbers aren’t scary if they make sense. Take it from Rosemary.
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