Tag: Paul Hunt

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.

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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.

Paul Hunt becomes Fellow of ILTSA

ILTSA, news

Paul Hunt, Fellow of ILTSA - certificateI am delighted to announce that I have become a Fellow of the Institute of Licensed Trade Stock Auditors, the professional body of stocktakers in the UK.

ILTSA sets the professional standards for the stocktaking profession and so it is great to be recognised by them in this way and means I have now been a qualified member for the last 7 years.

Use a professionally, qualified stocktaker

When choosing a stocktaker to work with your business, always ask whether they have passed the professional exams and are member of ILTSA.

By doing so you are assured that the people you work with are qualified, have the experience and support to provide you with meaningful and detailed feedback on your businesses performance.

 

Find out more about Paul Hunt’s qualifications and expertise in the stocktaking profession»

 

 

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.

 

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»

 

Manage your stock at Festivals & Hospitality Events

Bar stocktaking, Festival & Hospitality stocktaking

Stocktaking at Festivals and events by Paul Hunt of Hunt Management SolutionsWith the Summer fast approaching lots of festival, fetes, open days and hospitality events will soon be taking place. However, if you are an organiser, please don’t forget to manage your stock.

Whatever the type of Festival (music, food & drink, beer, proms, weddings, flower shows, Christmas markets etc), food and drink can generate significant income for festivals and events.

However, managing your stock can be a challenge in the more unusual and temporary surroundings chosen for many British festivals such as fields, parks, schools or sports grounds!

Festival stock issues

Just some of the stock issues hospitality event organisers face include:

  • Multi bar and food operations across a festival site
  • High stock levels being retained on site because of the difficulty in re-stocking
  • Shortage of secure, lockable, storage space
  • Lack of good refrigeration facilities to keep food fresh
  • Lot of temporary staff, inexperienced with tills and stock systems
  • Potentially high wastage and theft issues
  • Lack of sales and stock reporting

Maximising your festival gross profit

If you are organising a festival or hospitality event we highly recommend using a qualified and experienced stocktaker. They will help you manage your stock effectively and ensure that your gross profit is maximised.

An experienced stocktaker can help you in a number of ways including:

  • Stock systems & advice
  • Stock reporting
  • Analysis of invoicing, sales and stock
  • Identifying the Gross Profit Percentage per Category & overall Gross Profit
  • Multi bar reporting

Find out more about a Festival & Events stocktaking»

Get a FREE Festival & Hospitality Events stocktaking quote today

Paul Hunt MILSA has been a hospitality events stocktaker for over 15 years. He is an exam qualified member of the Institute of Licensed Trade Stock Auditors (ILTSA), the qualifying body for the Licensed Trade. He has also been appointed to its Council of Management.

He has also achieved the coveted ILTSA Accreditation status. This means that his work practices and procedures have been reviewed by an expert panel of the Institute’s licensed trade stock auditors.

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

 

Are you buying a Bar… get an independent stock valuation

Stock & Inventory Valuations

If you are buying a bar, pub, club or other business in the hospitality sector it’s highly recommended that you get an independent valuation of one of the businesses biggest assets… stock.Buying a bar, pub or club.... get an independent stock valuation

You will be buying the hospitality business, including the liquor and food stock, and so it makes sense to be very clear about the value of the inventory and be sure that it is fair and representative to both parties.

By using an independent stock auditor both parties can be sure of a level playing field, providing peace of mind and reducing stress in what can be a challenging time.

What does a stock valuation cover?

Typically a stock inventory at a change of ownership will show, at cost, the value of stock holding, with the drink being broken down to individual products.

Generally, it is advised that there is no food left to hand over however, if there is some remaining then it is usually advised that a figure is agreed. Find out more.

Both parties will receive a stock valuation figure & report, as well as documentation suitable for both buyer and seller accountants.

Can an independent Auditor work for buyer and seller?

A stocktaker can work for either the buyer or seller but it is often quicker and cheaper for both parties to agree to use the same independent valuer.

A joint valuation audit prevents duplication, ensures consistence and removes the need to compare and contrast 2 different valuations.

How do I choose an independent stock valuer?

When looking for a valuation expert that both parties can trust, it is recommended that you consider the following:

  • Are they a member of ILTSA, the only qualifying body for the Licensed Trade. Member of the Institute means that the stocktaker has passed professional exams and works in accordance with a professional code of practice
  • Experience in stock valuation and in the particular hospitality sector
  • What do their clients say about them and their service

Find out more about stock valuations

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 stock valuation services for your pub, bar, restaurant or club please contact us on 07917 176 005.

 

Stocktaking news, tips and thoughts

news

Paul Hunt, Expert StocktakerWelcome to my new blog to which I will be adding all of Hunt Management Solutions latest news, thoughts and top tips about all things stocktaking over the coming months.

Please come back and visit us again soon but in the meantime find out more about Paul Hunt and Hunt Management Solutions and all of our stocktaking services including: