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
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A Very Warm Welcome to...
5 Critical Activitiesfor
Pub Owners and Managers
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Chris WrightFounder
Pubs Advisory ServiceBII Membership Services
Development
A Very Warm Welcome to...
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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
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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
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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).
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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?
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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
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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
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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
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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?
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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”
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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]
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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
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For More about Member Benefits go to...
http://foodprofitsmembership.com/sales-fpm/
Email me with your questions...
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Watch the Webinar recording
on the
FoodProfits YouTube Channel:
http://bit.ly/1pECogm