What a great and timely question… put to CFO Michael Beviss, who shares some realities of working with...Read Story
Key to running a successful hospitality business is delivering a fantastic experience for customers, ensuring they want to return and give good feedback and reviews.
Like many other businesses the key to profitability in hospitality is managing costs such as food, beverages and labour. It’s vital to ensure pricing exceeds costs, also allowing for coverage of overheads and a profit margin.
Sales per customer in hospitality is a great KPI to give ‘front of house’ staff to ensure a good return on investment.
Well managed stock is vital to minimise wastage and theft, thereby improving profitability in hospitality businesses.
Cash flow management is key to ensuring the business can meet its commitments and remain liquid and viable.
Knowing the ‘breakeven sales point’ is a great start to setting targets to ensure profitability in a hospitality business.
A CFO On-Call can work with your business in the hospitality industry online when it makes sense and in person when you need it.
Simple, accurate and timely reports to guide you to the right decisions.
If your overall profit is made up of too many losers and not enough profitable lines you could be missing out.
‘Non financial’ information is what drives profit and Cash Flow results.
Analyse how things work and find ways to save time and money.
A Part Time CFO is a ‘financial strategist’… Helping business owners to set a financial management plan, implement it and report on results and progress. Focus on the outcome is how we’ve helped clients to achieve such a great result!Read Case Studies
One of the key factors in good cash flow management is how you manage your Accounts Payables i.e....Read Story