Returning a loss-making hospitality business to profitability
A hospitality business was in trouble. Profitability had dropped, and we needed to get things back to optimum. I started with a detailed review of margins and overheads to provide clarity on actions to drive improvement. My involvement meant they could step away from the day-to-day and see the high-level issues which needed addressing.
I also provided a detailed review of the issues impacting their gross margin, including waste, purchasing processes, supplier pricing and pricing. Having identified the cause, ongoing reviews ensured actions were chased up until they were completed, and we were then able to follow up with a review of overheads. Whilst some decisions were challenging, frank discussions meant everyone knew why they needed to be made.