Category: Pub stocktaking

Tips for Opening after Lockdown for pubs & hospitality

Bar stocktaking, news, Pub stocktaking

Now that the hospitality sector (including pubs, bars and more) has a route out of lockdown, we can start to look forward to opening up once again.

After such a prolonged closure, this is a good opportunity to review your stock position for bar and food stock, so here are a few thoughts on how to approach this.

Hospitality reopening timetable

Firstly, looking at April.

For a lot of businesses year end is the 1st April, so this would a good time to get an independent stock valuation of current stockholding of bar & food stocks. In addition, this is also a good time to note down any stock that is going to be written off.

Accurate, certified, figures can then be passed to your accountant for inclusion with your end of year accounts. 

If you are not reopening until May.

If you are not reopening until May you have a bit more time to prepare. Again, this would be a good time to get an independent valuation of current bar & food stocks and, in particular what stock need to be written off after such a long closure.

Before reopening

Before reopening is good time to have a look at your pricing. As some of the breweries have already indicated that there will be price rises it is a good time to have a stocktaker on board to help you look at your GP% & provide advice on your future pricing.

Of course, this is going be a challenging time for everyone. Past experience would suggest that this is an important time to manage stock and costs closely. Ensuring you have accurate business measures and controls in place will help you to make the right business decisions going forward.

If you would like to book a stock valuation, discuss your stocktaking requirements or need some advice, then get in touch.

You can contact us on 07917 176 005 or send us a message using the “Contact Us” Tab

Stocktaking is not just about counting stock

Bar stocktaking, news, Pub stocktaking

Stocktaking is not just counting stock & producing results. There is more to it, lots of challenges, and one of the areas I like is the problem solving.

In a recent case, a client was having unusually high consumption of Diet Cola compared to the Cola, combined with a large discrepancy compared to PLU Report.

Diet cola being consumed by the box..?

Cola mystery

On the next stocktake the manager mentioned that in two days a whole box had been consumed, this is not a busy bar to sell that much. I felt that there must be a leak in the system somewhere but where?

On going into the cellar with the manager we could not find any wet patches around equipment or obvious leaks. Then I noticed, coming from the remote cooler was a brown trail of liquid!

I put a glass inside the cooler to get a sample of liquid & when taken out it was full of syrup not water… so that was where the post mix had gone!

Problem solved

An engineer was called out and he cut open an insulated sleeve coming from the bar to cooler & found that this was full was of syrup. Eventually the engineer traced the problem to a leak on the control system under the bar where it found that the syrup had been running back down inside the insulated sleeve and into the remote cooler.

Problem solved and further waste eliminated… I was delighted to be able to help my client and enjoyed the satisfaction of a job well done.

Stocktakes proving their value

I think this is a good example of how having regular stocktakes highlights problems that are not always obvious but can be of great benefit to the business.

If you would like to discuss a stocktake at your business please get in touch.

Contact us

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.

 

 

6 summer stocktaking tips

Bar stocktaking, news, Pub stocktaking, Restaurant stocktaking

Summer stocktaking tipsThe summer is fast approaching so we thought now would be a good time to share some of our Summer stocktaking tips to help you prepare your pub, bar, club or restaurant for successful trading during the busy holiday season.

Our 6 summer stocktaking tips

So here are 6 summer stocktaking tips for pubs, bars, clubs and restaurants:

1. Review those stock levels

A good spell of warm and sunny weather will see your popular beer garden fill up and your stock turnover start to increase. Before the season gets into full swing review your stock levels to make sure you will be able to cope with a surge in demand.

A good tip is to look at your turnover from the year before in a good weather spell to see how the demand changed.

2. Don’t forget your summer drinks

Of course, it is not only the volume of drinks sold that can change during the summer, it’s also what people are drinking. When reviewing your stock level don’t forget to have plenty of Pimms, lighter real ales, a selection of ciders (bottled flavoured ciders are popular), alco-pops, cocktail mixers and soft drinks ready to go!

3. Check your selling prices

While the summer brings seasonal trade it is important to make sure you are maximising your income during this season. It’s worth discussing with your stocktaker your summer selling prices to make sure you are maximising your contribution towards achieving your annual GP.

4. Check those fridges!

Should we be lucky enough to enjoy a prolonged warm spell, having a cool storage area and effective fridges in bars and kitchens become important.  Before the weather really heats up it is recommended that you check all your refrigeration including your cellar cooler is working effectively.

In particular, we recommend that you check around under counter coolers in the bar and fridges in kitchens to make sure the condensers are free from dust and debris.  Failure to keep these condensers clear can result in the overheating and breaking down.

A condenser running efficiently will also use less energy, saving you money.

5. Reinforce your Bar Tab procedures

Letting customers run a bar tab during their visit is a great way to encourage them to consume more and stay longer.  However, during the summer when more of your trade will be in the beer garden or terrace it is important that guests don’t leave without paying.

Our tip is to ensure that for bar tabs you always take a credit card to keep behind the bar, in exchange for a wooden spoon/table number for example.

To keep credit cards behind the bar it will help to set up a space & system for keeping them safe and with any related paperwork (order receipts etc).

If you wish to be ultra secure there are credit card safe products that you can purchase that locks the credit card away in exchange for a key.

6. Are you licensed for outside service?

It is often overlooked, but if you are using a garden, patio or outside area for providing table service you need to ensure that you are licensed correctly to do so.

Summer stocktaking advice, support and services

Paul Hunt, of Hunt Management Solutions, is a qualified and experienced licensed trade stocktaker covering Wiltshire, Gloucestershire, Bath and the South West of England.

If you require stocktaking services for your pub, bar, restaurant or club please contact us on 07917 176 005.

 

Pub stocktaking reports – do you have enough management information

Bar stocktaking, news, Pub stocktaking

Pub stocktaking by Paul Hunt Management Solutions

Pub stocktaking reports

In what has been a very busy summer of stocktaking, I have seen a noticeable increase in the number of licensees – of pubs, bars and clubs – asking more questions and advice relating to their stock control.

It’s always pleasing that clients are appreciating the need  for more information to help them run their business efficiently and profitably.

Are you getting a PLU report?

A great example of this, has been a new client I have begun working with this summer, who felt that they were not getting the information from their previous stocktaker that they required.

In this case the main issue was that the owners were not being give a PLU report to highlight what stock was short. As this was a freehold premises being run by a manager on the behalf of the owners, a PLU is essential information for them so that they could analyse and discuss with the manager issues such as stock shortages.

What’s in a pub stocktake report?

A stocktake can reveal a lot of important trading information for pub, bars and clubs from PLU reports to gross profit percentage per category.

Click here to find out what our typical pub, bar and club stocktaking reports include»

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.

 

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.

 

2018 off to a busy start – stocktaking update from Paul Hunt of Hunt Management Solutions

Bar stocktaking, news, Pub stocktaking, Stock & Inventory Valuations, Year End certificates

A busy stocktaking year ahead

I’m delighted to say that 2018 has got off to a great start with a busy month of stocktakes across the south west of England.

While there has been the usual month end work & monthly stocktakes, January also sees an increase in the quarterly work & year end stocktaking – many clients have the 30th December as their financial year end and so require end of year valuation certificates.

Changing times

While it continues to be a difficult trading time for pubs and the hospitality trade, I’m pleased to have gained two new clients this month.

Also a sign of the times, is that some of our new business has been won from clients whose current stocktaker is retiring.

Continuity of stocktaking service

In a profession that relies upon on expertise built on knowledge and first-hand industry experience, turnover due to retirement is to be expected.

As continuity of stocktaking services is so important to businesses in the licensed trade, Hunt Management Solutions offers a seamless stocktaking transfer service to new clients… so that their management reporting is uninterrupted and consistent.

Please get in touch to find out more.

1st April year end looms & over Easter!

The next big time for stocktakers is the 1st April with the financial year ends.

If you have not booked your end of year stocktaking date, then it time to get it done as soon as possible, particularly as this year it falls over the Easter Weekend.

Please get in touch to find out more about our Year-End services.

Stocktaking tip: spring clean & rotation

Now is  great time to spring clean your stock offering by checking the dates on your stock. Often over the busy Christmas & New Year period stock rotation gets overlooked because it’s such a busy period.

Also have a conversation have with your stocktaker to find out what stock is and is not selling. For example, your stocktaker will be able to give you thoughts on what low selling stock you need to promote to reduce/remove your stock holding.

Stocktaking tip: price increases

While, I don’t wish to finish on a negative… it’s also that time of year that the Breweries start to bring in price increases! So this is a good time to seek advice from your stocktaker on what the impact is going to have on your margins and what adjustments you should be making.

Paul Hunt
Hunt Management Solutions
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

 

 

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