5 critical activities for pub owners and managers
DESCRIPTION
Chris Wright from The Pubs Advisory Service and Marcus Kilvington from Food Profits held a Free Webinar on 31st March 2014 for Pub Owners and Managers to provide help with "5 Critical Activities for Pub Owners and Managers" - Risk planning for pubs - How to fix cashflow problems - How to present a compelling food offering - Effective stock holding - The importance of an "Hour of power" Watch the video recording on Food Profits YouTube channel http://bit.ly/1pECogmTRANSCRIPT
A Very Warm Welcome to...
5 Critical Activitiesfor
Pub Owners and Managers
Chris WrightFounder
Pubs Advisory ServiceBII Membership Services
Development
A Very Warm Welcome to...
What we aim to do today
• To inspire you to create a written policy (You might be thinking “Why”!)
• Raise questions that you need answers to
• Get UNCOMFORTABLE, this way you’ll get your radar tuned in to any future risk
5 Critical Activities1. Risk Planning for your Pub
2. How to Fix Cash flow Problems
3. How to present a Compelling Food Offering
4. Effective Stock Holding
5. The Importance of your Crucial Hour of Power
Today’s Situation• Competition for custom is fierce – pubs that
cater for kids and lunch are bucking the trend whilst full service fall +5%. Source: Marketing Week 2013
• Shouting about what you do well in a crowded market is a great policy, don’t be shy!
• Consider your online reputation – adopt a policy to monitor or engage (inc staff).
How Did We Get Here?• By luck – you’re the flavour of the month
• By skill or judgement – following your nose with no written plan
• By design – following a plan
• Going forward which one would give you most confidence in building your business?
Risk Planning for Your Pub
• Liability loss – cost to exit
• Income loss – drop in trade
• Stock/Property loss – waste, theft, not charging enough!
• People loss – key skills or sales
How to Fix Cash Flow?• Know your break evens
• Know the “floor” to exit any agreement
• Savings in two parts – working capital and contingency funds
• Insure for high cost risk, avoid small policies or over insurance
A Compelling Food Offering1. Simple
2. Quality, Quality, Quality
3. Small Menu + Dish Description
4. Differentiate
5. Be OUTSTANDING
6. Embrace Opportunity i.e. World Cup
Effective Stock Holding
• Do you have too many toys?
• Is waste being monitored?
• Do you use margin sheets, do you know the cost of putting plates out?
Hour of Power• How much time do you set aside weekly to grow
your business or will this webinar be a one off?• Have you walked or driven up to your business
in the dark from all directions in the last 3 months?
• Do you walk the floor and engage with customers or stay under your sales or food “blankets”
Recommendation
• Don’t react, plan and execute.
• Summary – recap on the last hour
• Form your own action plan – mail me & I’ll be happy to review them [email protected]
Pubs Advisory Service
01825-830422
07502-214457
Email – [email protected]
Email – [email protected]
www.PubsAdvisoryService.org.uk
Google + https://plus.google.com/u/0/+ChrisWrightUK/posts
Pubs Advisory Service
01825-830422
07502-214457
Email – [email protected]
Email – [email protected]
www.PubsAdvisoryService.org.uk
Google + https://plus.google.com/u/0/+ChrisWrightUK/posts
For More about Member Benefits go to...
http://foodprofitsmembership.com/sales-fpm/
Email me with your questions...
Watch the Webinar recording
on the
FoodProfits YouTube Channel:
http://bit.ly/1pECogm