What do we bring to the table?

Hospitality Partners provides ongoing assistance for your business or portfolio of businesses within the hospitality sector .  Once we have worked alongside you to identify  the areas of opportunity from the  below list, we will create a strategy and business coaching package to target all your needs. 

Financial Strategy

You will discover a lot about any business simply by looking at their Profit and Loss (P/L) statement. Hospitality Partners will assist businesses by providing a detailed P/L template as well as coaching your team to understand each line item, which will in turn improve your return. An initial tip is that it is not your accountant's job to tell you how good you are running your business. If you want to improve your profitability, you need to be the one to know every opportunity you have in the business and every item that you are spending money on. Our main goal when it comes to Business Finance is to assist business owners to: 

• Set your own net profit goal, and
• Set your strategy to achieve that goal

When we are setting up your financial targets, we will work with you from bottom to top of your Profit and Loss statements. What this means is first and foremost we prioritise Net Profit. We will agree on your desired Profit target and then work our way up to have individual targets/plans for each section of the P/L to achieve this target. This means your Profit target will remain consistent, regardless of the situation or circumstances. We will then analyse all controllable areas of the business to ensure this profit target is achieved.  We will also provide you with tools to assist in monitoring these goals on a daily/weekly/monthly basis. This will include a: 

• P/L tracker 
• Revenue tracker
• COGS tracker
• Labour tracker

Operational Strategy

Once we have the financial goals established, we will then look at targets for each section of the P/L and start working on the strategy and execution. These include the below:  

Revenue Planning:

• Internal factors
• External factors

Cost of Goods (COGS) planning

• ·Creating basic Standard Operational Procedures (SOP)
• Identifying high and low COGS menu items
• Tracking all leakage (wastage, discounts, theft)

Labour Planning

• Analyse the roster and set targets for Average Hourly Rate (AHR) and Sales Per Labour Hour (SPLH)
• Break down the sales into every half an hour

Operational Expenses Planning

• Look at the fixed and variable costs
• Review any opportunities for more cost-effective deals with suppliers and contractors. 

We will also provide you with the tools to assist execute these plans. This will include coaching in:

• Customer Management
• Front of House Management
• Back of House Management

People Management and Training

People are the roots of any business. It is crucial that as your business continues to grow your team is also being developed to achieve continued results.  Once we set our financial targets, we will then need to look at communicating with the team any changes and additional training that may be required. We will look at:

• Full Team Ratio (FTR) and Staff Turnover
• Completing Performance Reviews
• Hiring process
• 30, 60 and 90 days Training Plans

Marketing Strategy - Local Area Marketing(LAM)To unlock a broader awareness of your business, we will work through your marketing strategy. Before suggesting any marketing activities, we will start by creating a Marketing Plan, which will include

• Market Research
• Industry Analysis
• Marketing Target
• Marketing Objectives and strategy to achieve it
• Unique Selling Point
• Pricing Strategy
• Target Market
• SWOT Analysis
• PEST Analysis
• Budget
• ROI (Return of Investment)

Safety

In any business safety is paramount. We take safety very seriously and want to ensure all businesses trade safely.   We will assist businesses in creating a safe work environment which will include: 

• Food safety
• Incident reports
• Risk assessments
• Safety audits