Category: Licensed Trade

Stock control post lockdown

Licensed Trade, news

As the hospitality industry eases out of lockdown and businesses from pubs to restaurants start to re-open, this is a great time for to use a qualified stocktaker to help you get up and running.

For those in the licensed trade, there are a number of challenges ahead for re-opening including…

  • As a licensed trade stocktaker, I can help verify any beer disposals that need to take place.
  • If you have stock that is out of date, then I can provide an independent valuation for your accounts.
  • As margins are going to be tight after a long period close, monitoring of GP%, waste & allowances will be important to help maintain performance of business.

Find out more about our stocktaking services for the licensed trade and hospitality sectors and about Paul Hunt.

Contact us about your stocktaking needs on 07917 176 005.

Stocktaking proving its value

Bar stocktaking, Cinema stocktaking, Festival & Hospitality stocktaking, Hotel stocktaking, Licensed Trade, news, Pub stocktaking, Restaurant stocktaking, Theatre stocktaking
Paul Hunt, stocktaker
Paul Hunt, stocktaker

For most licensed trade and food businesses the need for, and value of, a stocktake is understood. However, it’s always nice to be able to demonstrate it by achieving some significant savings.

Over the last few months I have been able to prove to a number of clients that having a regular stocktake is a valuable service that can pay for itself.

Here are a couple of recent examples:

Invoice stock not actually delivered

A client had Vodka on a delivery note/invoice but it was not on the van and was told it would be delivered next day.

When doing the stocktake there was a large discrepancy on vodka & when questioned nobody could remember if the vodka from this invoice was delivered.

On checking the CCTV for the day after delivery it became obvious that it was not delivered. Once the supplier was contacted they agreed to deliver the missing stock.

Overcharging on invoices

It is not only deliveries that mistakes have been found. Often mistakes are picked up on invoices where things have been overcharged or the wrong prices being charged.

It is quite common in my experience that busy staff quite often do not check invoices thoroughly and so mistakes can go through.

A perfect example recently was where a client was charged for cases of snacks instead of a single cards.

Professional stocktaking pays for itself

These are just 2 examples of how using a professional stocktaker can save your business money – in fact, a stocktaking service quite often pay for itself in the savings it finds.

To find out more about how our stocktaking services can support your business please contact us on 07917 176 005.

Time to book those year end stocktakes

Bar stocktaking, Festival & Hospitality stocktaking, Hotel stocktaking, Licensed Trade, news, Pub stocktaking, Restaurant stocktaking, Stock & Inventory Valuations, Year End certificates

Just a gentle reminder… many businesses have their year-ends in December, early April & October and as a result the demand for stocktakes and professional stocktakers around these times is high.

As we are rapidly approaching the end of the first quarter of 2019, where has the time gone, it is really worth contacting your stocktaker to get your appointment booked in urgently for April or in advance for October.

Find out more about our stocktaking services for the licensed trade and hospitality sectors and about Paul Hunt.

Contact us about your stocktaking needs on 07917 176 005.

Sugar Tax & Summer has arrived! Stocktaking Summer update

Bar stocktaking, Licensed Trade, news, Pub stocktaking, Restaurant stocktaking

This year has flown by, we are already heading into the Summer and as is normal there are lots of stocktaking challenges ahead.

Sugar Tax considerations

With the new sugar tax coming into for there are lots of implications for pubs, bars and restaurants.

Update your soft drink options

Have you looked at your soft drinks options since the sugar tax has come into place?

There are various options to switch products, so that you can avoid the tax. Like moving from Pepsi to Pepsi Max and from Coke to Coke Zero. Some of the alternative post mix products of Coke & Lemonade are also sugar tax free.

However, be aware that some products that you think would not have been affected by the tax, have been. A good example being some of the commonly used mixers & fruit juices.

Don’t forget your gross profit

Have you checked your GP% since the tax was introduced? Some products have had a large increase, for example Coca Cola is now about £10 a box more expensive. It is important that you reflect these changes in your pricing if your GP is not to be effected.

Many pub, bar and restaurant owners are struggling with how to charge more for sugar tax items than the diet versions. Many have chosen to increase the pricing of both products. With increasing business costs such as rises in the minimum wage this is one way to protect your profit margins.

Ask your stocktaker

The general advice is don’t be afraid to ask for advice from your stocktaker. They should have the knowledge to advise you and also visit a variety of licensed premises in your region and so know what is happening in the marketplace.

Summer Drinks

Cider crazy

It looks cider is still the favoured summer drink with sales set to soar during the good weather.

Many in the licensed trade are responding to this demand by installing fruit cider on draught, rather than stocking so many bottled versions.

It is also noticeable that all the big companies now seem to be producing a fruit cider of some description – so there is a lot more choice including Cloudy Cider which is selling well at outlets I work with.

Lighter Ales

Real Ale sales are dropping in the heat of summer, so it seems sensible to reduce the number of options available so that you maintain the quality. Lighter Ales are a better option for the summer.

National Beer Day

Remember that 15th June is National Beer Day, a great opportunity for pubs and bars to generate business through promotions.

Chilling challenges

With the lovely hot, sunny weather comes the challenge of refrigeration and keeping all drinks and food products suitably chilled.

So make sure you are monitoring your cellar temperature and that of your remote coolers. Have a look at your bar fridges and any under counter coolers and make sure that the condensers and cooling grills are clear of rubbish and dust – give them a hoover as part of a monthly cleaning schedule.

Kitchen fridges can also be a problem, so it is worth having them serviced to check on their health and action anything before it comes a problem.

 

 

Are you monitoring and managing your stock deliveries? 6 stock delivery tips

Bar stocktaking, Hotel stocktaking, Licensed Trade, Pub stocktaking, Restaurant stocktaking

Are you checking your deliveries and delivery notes?Stock control is an essential part of most business operations, but particularly in the licensed trade, catering & hospitality where profits can quickly turn to loss if stock isn’t carefully managed.

Start… managing stock deliveries

Good stock control starts with monitoring and managing deliveries effectively.  This often boils down to making sure every delivery is properly checked and signed for but while this may sound obvious, as an independent stocktaker I come across many occasions when this doesn’t happen.

A couple of recent examples:

  • 2 Barrels signed for that weren’t delivered

The manager went to check delivery & noticed that two barrels were missing that they remembered ordering.  On checking the delivery note, the missing items were listed even though they had not been delivered.

When contacting the brewery their reply was that the delivery had been signed for and therefore there was nothing that can be done.

Luckily when we conducted a stocktake, the results made it obvious that they had been short delivered. Although this doesn’t necessarily mean a brewery will reconsider, after a lot of hard work from the client talking to the company, they were eventually able to get replacement for the missing stock free of charge.

  • Missing case of 6 x1.5 litre bottles of mixed spirits

When a PLU report was completed as part of our stocktake for a bar, there were several spirits with large deficits – this equated to 6 x 1.5ltr bottles.

Further investigation revealed that these items were listed on the delivery notes. After the stock count was checked & delivery notes were rechecked to make sure they had not been marked as undelivered, the client was advised of the issue – which they had been unaware of.

Checks at the Brewery confirmed the items had been despatched and so at this time the business is picking up the tab for the missing spirits.

Stock control pays for itself

Both examples show the value of regular stocktaking to business of all sizes in the licensed trade and of the importance on managing the delivery process.

The first example showed how stocktaking helped to prove the delivery didn’t take place, recovering a potential loss for the client. In fact, the retail value of the recovered items more than paid for the independent stocktake.

The second example highlighted how independent stocktaking can reveal issues and problems that the owners were not aware of. Identifying and fixing these issues will again make big savings for the owner and cover the costs of the independent stocktaker.

5 stock delivery tips

Here are some basic stock delivery tips:

  • Make sure all empties are out of the cellar or moved to one side away from existing stock and stock about to be delivered
  • Mark the full barrels in the cellar as an easy guide to help double check delivery
  • Make sure barrels & stock are checked before they go in cellar or delivery area
  • Make sure the delivery drivers are supervised & don’t leave unattended
  • Make sure every delivery is properly checked and signed for by both the delivery driver and the person receiving the order

Helping your stock control

An independent stocktaker can help you manage your stock more effectively by using their experience to interpret your systems, invoices and reporting.

As the examples above show, as independent stocktakers we regularly identify issues, even if clients didn’t know they had them, and then help them put in place fixes and better processes to stop the issue repeating.

If you would like to know more about how we can help you with stock control and inventory management please call us on 07917 176 005.

 

Maintain your profit margins. Post Budget thoughts for the Licensed Trade

Bar stocktaking, Hotel stocktaking, Licensed Trade, news, Pub stocktaking

Profit margins - a stocktakers viewWith brewery new year price increases and recent Budget changes that also increased prices, now is a good time for those in the licensed trade to make sure that their profit margins are in good order.

I have found that most clients have waited for the outcome of the latest Budget before looking to increase prices. This is not surprising as most prefer to do just one price increase rather than two in quick succession.

However, it is important that you reflect the increased costs in your pricing so that your bottom line isn’t impacted.

Don’t forget changing food prices

It’s also important that owners of pubs, bars, restaurants etc don’t forget to review their food profit margins. As we have already seen this year, weather events are having quite an impact on the availability and pricing of food imported from Europe, particularly fruit and vegetables.

As a result, do keep an eye on your food GP%.

Calculating your Profit Margins

There is a simple GP% calculator that can be found on ILTSA (Institute of Licensed Trade Stock Auditors) website to help you.

GP% calculator»

Budget 2017

Here are my thoughts and observations on the March 2017 Budget:

  • The budget increase is going to mean about 10p on a pint. This is in addition to the 10p you may have been expecting to add because of the brewery increases.
  • Wine prices increased at the end of last year & have gone up again in the budget. Wine increases look like they will be in the region of 20p-50p per bottle.
  • Spirits, look like they need to be increased by 5p, but I would envisage that this will actually end up being a 10p increase.

What will customers make of price increases?

Of course no one is delighted by price increases, but while there may be some customers who show dissatisfaction, most will accept these increases in today’s economic climate.

Many still find that customers try and compare pub prices with supermarket prices. We can only continue to educate the public on the fact that prices are not just a reflection of the beverage but also for the environment in which they consume them.

Checking those invoice prices

Are you checking the prices on your invoices?

When stock arrives it is easy just to check that correct products have been delivered but I have found that many do not also ensure the prices are correct.

If you have regular stocktakes, then your stocktaker will help you pick up if you have been overcharged as they will have industry knowledge of prices.

However, it is good practice to check all the prices on the invoice as the stock is delivered as it could save you money.

Single bottle or a case?

One of the common pricing errors that people miss is where they have been charged for a case rather than a single item.

Contract prices

For those that have contract prices on products, be particularly careful when you order something different. Make sure the price is checked because this type of error can easily slip through and be costly.

Use an expert

When it comes to maintaining profit margins and stock control, a professional and experienced stocktaker is worth every penny of their fee.

From establishing what your GP% is to identifying and fixing issues a good stocktaker will help your business run more efficiently and profitable.

Find out more about our stocktaking services including:

Or give us a call on 07917 176 005

 

 

Stocktaking for Theatres and Cinemas

Bar stocktaking, Cinema stocktaking, Licensed Trade, news, Theatre stocktaking

Theatre stocktaker and Cinema stocktakerIndependent theatre stocktaking and cinema stocktaking services are an essential way to protect your business profits.

If you own or manage a theatre or cinema, you will be fully aware of the importance of food and beverage sales to your gross profit margin.  It makes sense for you to protect one of your most valuable assets and ensure you are maximising your income from it.

Independent stock management

We provide stock management and auditing services for theatres, cinemas and arenas across Wiltshire, Gloucestershire and South West England.

As an independent, qualified and experienced stocktaker, Paul Hunt can support your business whether it’s a theatre with multiple bars or a cinema with food and drink refreshment kiosks.

Cinema & Theatre stocktaking

Our cinema and theatre stocktaking service is tailored to your needs but can involve food and beverage sales, licensed trade sales, analysis & reporting on stock holding and gross profit, plus lots more.

Find out more about what a theatre or cinema stock audit includes»

Free quote for your stocktaking needs

If you would like to discuss your theatre or cinema stocktaking/auditing needs and get a free, no obligation, quote then please call us on 07917 176 005 or use our contact form»

 

9 Christmas stocktaking tips & festive holiday season advice

Bar stocktaking, Hotel stocktaking, Licensed Trade, news, Pub stocktaking, Restaurant stocktaking

Christmas stocktaking: 9 top tips for festive holiday stocktakingAs we head towards another hospitality festive season, Hunt Management Services has put together our list of 9 Christmas stocktaking top tips to help the licensed trade have a successful trading period.

Christmas and New Year stocktaking top tips

Whether you run a pub, bar, club, restaurant, hotel or festive hospitality, we hope that you will find some stocktaking tips that will work for you.

1. Seasonal drinks.

With the colder weather and the celebratory nature of the festive season it’s a good idea to review your stocks of seasonal drinks, particular favourites for this time of year are:

  • Mulled Wine or Mulled Cider are both are popular at this time of year especially on those colder nights.
  • Darker Real Ales & Porter styles are a preferred choice at this time of year as opposed to lighter ales that are popular in the Summer.

2. Customer profile

The Christmas and New Year party season may bring a different sort of crowd to what you have seen during the rest of the year, with different tastes and preferences. So it’s worthwhile taking a look at your stock reports from last years festive season, to see what stock was moving quickly and revise your festive orders accordingly.

3. Spread the cost

To spread the cost of purchasing stock for the Christmas period, it is an idea to start building stock of the most popular products by ordering extra  in the weeks before Christmas.

4. Protect your profitability

Although turnover is usually good during the festive period, there are periods where trade is quiet. Offering Mini Prosecco and Wine bottles are a good alternative to offering it by the glass as it prevents stock of large bottles going flat and increasing waste.

5. Make the most of discounts and offers

At this time of year many suppliers offer deals and incentives in their Christmas Brochures that could save you money on all your orders – check them out before placing your order.

6. Protect your stock

Stock is one of your most important assets, and over the holiday season you will have more on site than normal and so it is important that it is secure.

  • Make sure that the larger December deliveries are properly checked & signed for at outset.
  • Ensure that your cellar and anywhere else you hold stock is safe and secure – especially if you are using new spaces because of the extra stock.
  • Make sure that in January any dated products are stock rotated properly, especially in the fridges.

7. Don’t forget to record information for your stocktaker

If you are  offering a discount by pre-ordering wine for Christmas meals, then make sure the amount of the discount is recorded for your stocktaker. Similarly, make sure any complimentary drinks, for you and your staff, are recorded accurately.

8. Special offer recording

If you are offering a package deal of drink & food then make sure the split between the two categories is recorded.

9. Christmas staffing

Throughout the holidays most establishments are rely on a greater number of casual staff than they have for the rest of the year. Therefore it is important that all those working are clear on the stock and till processes to ensure everything is recorded accurately.

From an owners perspective it is also a time to be extra vigilant on stock, monitoring any till shortages or till surplus. On a busy night some establishments will swap the till drawer & do an x reading on the till & credit card machine.

Expert stocktaking in Bath, Wiltshire, Gloucestershire

Paul Hunt, of Hunt Management Solutions, provides food & beverage stocktaking services for the hospitality industry across Bath, Wiltshire and Gloucestershire. Paul works on a daily basis with pubs, bars, clubs, restaurants, cafes, hotels, theatres, cinemas, student unions and a lot more.

If you need support from an experienced and qualified licensed trade stock auditor please contact Paul on 07917 176 005.

 

Institute of Licensed Trade Stock Auditors (ILTSA) AGM

ILTSA, Licensed Trade, news

side-logo - Copy (2) Paul Hunt of Hunt Management Solutions is delighted to be attending this years Annual General Meeting of The Institute of Licensed Trade Stock Auditors (ILTSA) being held near Winchester – 13/14th May 2016.

The AGM of ILTSA, the only qualifying body for stocktakers in the Licensed Trade, will be attended by stock auditors from across the UK.

The Institute, which prides itself on setting the professional standards of stock taking, will be meeting over 2 days to discuss a range of issues relevant to members including the continued development and success of the stocktaker training courses.

The AGM will also include an online marketing workshop by Stuart Lanham of Beach Hut Studio who has worked with ILTSA and Hunt Management Solutions on digital marketing.

Paul Hunt, experienced stocktaker and accredited member of ILTSA

Paul Hunt MILSA is an exam qualified member of the Institute of Licensed Trade Stock Auditors (ILTSA). He has also achieved the coveted ILTSA Accreditation status, meaning that his work practices and procedures have been reviewed by an expert panel of the Institute’s stock auditors.

In recent years Paul Hunt has joined the Institute’s Council of Management supporting the development of the professional body, its training courses and the promotion of the stocktaking and auditing trade.

Find out more about Paul Hunt stock taking services»