What Can I Legally Claim In Allowance And Should I always Go For The Maximum?
What can you legally claim as allowances, and should you go for the maximum? First of all I’m going to caveat this, I am not an accountant, I’m not a tax advisor, they are the people you should be going to first and foremost. From a stock taking point of view, I believe […]
Do I Need To Tell My Stocktaker If I’m Running Promotions?
Do I need to tell my stocktaker if I’m running promotions in my venue? The quick and easy answer is yes. As stocktakers will need to make an allowance or maybe even a surcharge for these discounts. It’s not exactly a promotion, but where you sell wine by the glass and the […]
How Long Does A Stock Take Last?
How long does a stock take last? That can be taken a couple of ways. That could mean how long does it actually physically take from getting to sites and doing a result, I mean that will just just depend on the size of the venue and the state of the paperwork etc that’s […]
Why Use An External Stocktaker?
Why use an external stock taker? Great question, many till systems now come with stock taking modules, they sell it to you, “oh it can do your stock taking, it’s great.” That relies on a few things; That you are inputting or your staff are inputting your deliveries on the system. It relies on […]
How Often Should I Stocktake?
Today I would like to talk to you about how often you should have a stock take carried out. Ideally if you follow the guidelines that the institute of trade stockholders have set out, ideally it would be on a monthly basis. Especially if you’ve got a high volume business, that might be high […]
How Long Does A Stocktake Take?
Today I would like to talk to you about how long does a stocktake, take? My initial reaction to that question is how long is a piece of string? It depends on many factors. It depends how much stockholding you have. I would suggest that somewhere that we’ve gone into that’s setting […]
Types Of Stock Takes
Today, I would like to talk to you about the types of stock taking that we concentrate on in the hospitality business. Really we’re looking at food stocktaking & wet stock taking. Food stock taking (Dry stock taking). Food is fairly simple, It does what it says on the tin. If you’ve got commercial […]
Regular Stock Takes
Today, I would like to talk to you about the importance of stock taking. Many new clients or prospective clients I talk to say we have our accounts done by our accountant. Yes, you do. It’s great. The accountant will always tell you exactly what gross profit you made on your wet, or […]
Raising prices, managing expectations & profitability
If handled well, rising prices allow hospitality businesses to better serve their customers, whilst focusing fully on customer service. A small marginal increase in prices, will mean that in order to have the same level of takings, or income, you do not need to serve as many customers, and therefore are likely to be able […]
Customer service goes ‘beyond the four walls’
Customer service and the customer experience extends far ‘beyond the four walls’ of any food or drink premises. We are living in a world where information is at our fingertips, and so is the power of the customer’s opinion. Many hospitality businesses focus heavily on the customer experience and customer journey whilst on site at […]