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 your food or combined, whichever you’ve asked them to do. And depending on your sort of outlet. 

However, they can’t tell you what you should’ve made as a GP. As stock takers this is what we can do. 

By producing an extended stocktake we can show you especially on the wet, what we would expect you to have made and perhaps why you haven’t made that. 

And we can analyse that down to; 

1. Is that because it’s a lack of training for your staff? 
2. That they are pouring the beer right? 
3. They’re not serving the right drinks? 
4. They’re using the till incorrectly? 
5. Or is it because… You’ve got someone who is being less than honest? 

They might be stealing products. 

They might be stealing money. 

They might be giving away drinks to friends and family. 

So, for instance, they might be giving them a premium lager, but only ringing through a standard lager. 

It’s little things, but over a year that will make a HUGE difference. And at the moment, we are looking at ever increasing rises in costs, squeezing your profit margin. 

We can also advise at a stock take on whether you’ve got the correct pricing. 

Can we make that GP better? 

Can we help you increase your profit? 

Or if, when we start with you, you’re making, you’ve got stock losses. 

How can we help you put systems in place to reduce those losses and turn you into a good stock take, where you’re making a decent margin. You’ve got the right products. You haven’t got products that are sat in the cellar which you will never sell, but are on stock. 

With the food stock taking, we can look at the GP.

Have you got the right food stockholding for the money you’re taking? 

Are you overstocking? Which is quite an easy one. 

Are you keeping an eye on your cost prices? 

At the moment everything is going up. 

They’re rising fast! 

Some items are going up 8% or more. 

The price of veg oil has shot up! 

So if you’re not looking at your margins on a regular basis, then… You won’t necessarily be surviving as a business. 

So that is why having regular stock takes is important and not just relying on your year end accounts from your accountant showing you what you made. We show you what is happening in real time.