Hospitality
We are Passionate about it ...... Edward Christian & Co has significant experience in the hospitality industry, via ownership of a restaurant, commercial catering facilities, bar and public event management management services. Our experience spans 25 years -at both operational and advisory levels. We could literally walk in the door and start operating almost any hospitality business with confidence! We are passionate about the hospitality industry and would certainly like to talk with you about your business in this sector. If you have margin issues, wage costs blowing out, food cost or kitchen problems, or require an accountant who understands the business please give Eddie a call now.
Our Approach
We recognise that every hospitality outlet, be that restaurant, bar, tavern, hotel, or motel has unique characteristics or a differing focus, and is as individual as each of us. There are however a range of industry recognised performance standards [or benchmarks] which apply to us all. If we manage the key industry drivers diligently then there is a reasonable chance of success.
The key industry drivers of gross margin on food and beverage, and wage control should always be aligned there is a variation allowance for individual components of the above benchmarks based on the business circumstances or model being adopted e.g. a la carte vs. buffet, or fast food vs. delivery, Courtenay Place vs. Khandalla etc. but there is always a cumulative outcome and when these KPI's are not aligned in their entirety there is as extremely high chance of failure - hence the industries reputation for being somewhat 'here today, gone tomorrow'.
We have a range of templates that provide every operator with the basic tools to measure their KPI's. Can you, on a weekly basis, accurately assess the following:-
- Wage Cost %
- Food Cost %
- Bar Cost %
- Variances to any of the above?
We can help you establish regular, simple, and accurate systems which will give you a comprehensive understanding of your business.
Edward Christian & Co is keen to get alongside hospitality operators to provide not only quality taxation and compliance advice but also industry specific guidance based on an industry which we have considerable experience in and that we are passionate about!