Cash flow with buffer
Besides his parents, his sister and his girlfriend also lend a hand here and there. ‘We discuss financial decisions together, but ultimately I make the decisions.’ His parents taught him to plan very conservatively. ‘A solid cash flow with a good buffer for difficult times is crucial and has helped me a lot during the coronavirus pandemic to manage repairs and new acquisitions or to pay in advance for catering services.’ He also uses METRO’s cashback options via the Financial Service App. ‘A solid calculation also means planning with foresight, i.e. including tax arrears, value added tax, sales tax, etc.’ He has also handed over his tax affairs to a consultant.
For the future, he would like to see a larger seating area and an outdoor section with lots of greenery. ‘But as a restaurateur, banks don’t consider you very creditworthy, especially if you’re young.’ From the banks’ point of view, restaurant finances cannot be reliably planned, and sales are not guaranteed in advance, explains Yalcin. ‘We also deal with perishable goods that need to be sold quickly.’
Like Fatih Yalcin, Pavlina Petreska will have to raise prices in the future. ‘But customers understand, because when they go shopping, they see that everything has become more expensive’, she says. ‘When you eat out, you want to enjoy the meal and be pampered. Beyond profits, we also cherish the smile of our guests when they had a good time at our place.’