The largest portion of your restaurant’s operating costs will undoubtedly be labour. However, because the cost of labour is usually fairly constant, there is little you can do to control it, but the second largest segment – the cost of your inventory – can be controlled to avoid expensive wastage.
Nando’s and Carluccio’s; two of the fastest-growing and popular restaurant chains in the hospitality industry, and they both have one thing in common: humble beginnings.
“The value you bring… is MASSIVE”
With 30 years industry experience I know that understanding the value of your activity, to others, is key, as is providing something different. With a lifelong ethos of helping others and a love for the hospitality industry I have stayed true to my values.
I have always had a good understanding of the industry I love and the underlying financial need of growing businesses.
Topics: Growth Planning
Once your hospitality business is up and running successfully, the next logical step is to grow. This is an exciting challenge and also makes plenty of sense for your business. Expansion can bring better recognition for your brand and an expanded customer base. It also means that you can diversify what you are currently offering, and market to a larger area.
In the hospitality industry, the food and beverage portion of the business is often not observed as closely as it should be. As a result, costs can run far higher than they should. The best practice for effective food and beverage cost management is to ensure that this aspect of the business is monitored just as closely and managed just as diligently as the rest of your establishment. This begins with the creation of a food and beverage cost control system, which involves gathering food and beverage data both manually and by using software.
Topics: Financial Services
OASys is about to take a mighty leap onto the blogosphere – and it can't wait.
The bespoke accountancy company is poised to unveil its very first blog to the online market place and is eager to grasp all the opportunities it knows the venture will create.
Not that it's a stranger to 21st century technology – far from it. The Gloucestershire company has always been quick to update its software and network and security systems immediately when required, it's just that it's been so successful that it never needed a digital shop window.
“We are in our 14th year and www.oasys.uk.net was the first website we have ever had,” reveals Managing Director Tom Edwards. “We have never even advertised, our new work has always come through word of mouth. Now we hope that adding this blog will help educate and inform our customers.”