Hospitality Stocktaking Specialists
Hospitality Stocktaking Specialists
Signed in as:
filler@godaddy.com
Hospitality Stocktaking Specialists
Hospitality Stocktaking Specialists
OptiStock Solutions specializes in offering the hospitality industry with money making and money saving solutions. We help manage risks, boost performance and generate more success for your business.
Our versatile stocktaking, auditing and advice solutions see our business consultants working with many sectors. These include the food service industry, licensed trade, entertainment industry, food and drink manufacturing, as well as retail sectors.
Years of hotel stock take and profit protection data have shown our business consultants that hotel businesses operate some of the most challenging sites in the whole of hospitality. The ever shifting clientele, 24-hour operations and attached risks and liabilities make this sector an exciting but difficult place to manage stock control and finances.
To run a smooth and profitable restaurant operation, it is vital to draw on key operational data like stock take results. No matter the type or scope of restaurant – fast food, casual dining, fine dining, independent, multi-site, chain, franchised – it will be a success if you monitor stocktaking and auditing data. Remember that our business consultants are here to help.
Bar stocktaking and auditing activities are crucial to running a profitable drinks business. Many wet-led and liquor focused businesses in the licensed trade, deal with unnecessary daily losses from their bars because their margins, pouring practices, stock controls and financial controls are not optimised.
The pub industry in all its variety continues to profit from performance boosting practices like stocktaking and auditing. No matter the type of business, whether food-led or wet-led, local or national, pub chain or independent, managed or tenanted, public house, free house, gastro-pub, country pub, theme pub, roadhouse, beer house or inn, they all need stock control.
The production and selling process of beer, wine and other alcoholic drinks by brewery, winery and distillery operators can hugely benefit from specialist liquor stock takes. Managing the inventory, revenue and stock analysis of any size brewhouse, wine company, or other drinks production business, is simply vital for optimising profits.
With the fast paced grab-and-go nature of coffee shops and other fast casual dining cafés, effective food and drink controls demand regular stock takes and audits. Understanding the unique challenges of this sector, we provide support at branch level with practical stocktaking, compliance auditing and consultancy support, and then report our findings direct to management.
Indoor and outdoor leisure and entertainment sites increasingly recognise that regular stocktaking and auditing underpins higher business profits. Yet many leisure operators do not have the internal stock control knowledge to improve profits for their food and drink, merchandise and equipment sales and hire stock.
Golf club stocktaking helps grow profit potential of your food and drink operation and any other stock you sell. Many golf club operators lose out on profit from secondary revenue streams because they overlook the benefits of stocktaking. Clubhouse restaurants, bars, event halls and pro golf shops in particular, are common under-performing revenue areas for golf clubs.
Night-time entertainment operators like nightclubs, casinos and comedy clubs can increase profitability, revenue and safety with regular stock takes and audits. Live auditing of your bars and clubs during trading hours in particular, is a great way to unearth operational and financial gaps which are leading to losses.
Run your events more profitably with the help of live stocktaking, yearly inventory checks and operational advice from our event consultants. See a higher return on investment from the food and drink stock you buy, monitor stock movements and staff actions, reduce food and drink wastage, and manage losses through improved inventory control. Our stocktakers and consultants cover it all.
Theatre companies frequently miss out on essential profits from their drink stock and bar operations because they forgo basic controls like stocktaking and auditing. Although drink sales tend to be seen as a secondary and less vital source of income, theatre companies could reap significant profits from regular stocktaking and auditing activities, which also happen to offer a direct return on investment.
Real time stock take and audit services during stadium events can completely transform the profits that are generated. These controls can help management teams deal with the complex challenges and risks associated with temporary workforce's, high sales volumes and limited service times. Accounting for stock, observing outlets and auditing every bar and food service point, ensures your event achieves optimal profits.
About 75% of employees steal from their workplace at least once, if not repeatedly. Theft at restaurants is a big problem, but there are ways to cut down on the impact employee theft has on your bottom line.
According to the United States Chamber of Commerce, annual revenue loss due to employee theft within the hospitality sector alone ranges from $40 to $400 billion per annum.
Typically, employee theft in food service falls into two categories: “shrinkage” the loss of inventory or “larceny” the loss of cash or merchandise. Food and liquor inventory, unpaid food consumption, credit card fraud, stolen tips, unauthorized discounts, and free food given to friends or family are just a few examples of employee theft in the restaurant industry. Moreover, these types of theft may often go undetected for long periods of time because proper internal control procedures are not in place
While statistics are hard to come by, one liquor-auditing service estimates that bar losses equal about 23 percent of the bottom line. “The theft at the bar is extremely wide-spread. Operators, especially mom-and-pops, don’t understand the ramifications of theft, how much it can impact the bottom line,” says Douglass Miller, associate professor at The Culinary Institute of America. “They figure, ‘What’s an ounce or two of liquor or a couple of dollars short?’ But multiply that by 365 [days], and it adds up.”
Nothing can stop a determined and clever thief. Even video security systems that sync with POS aren’t always effective. “Eventually, experienced bartenders figure out all the ins and outs of the systems. Tight operational controls is one of the best strategies for reducing the problem.
The problem with solely do internal stock audits is that the people doing the counts are in many cases the one's that are actually stealing. The best way to resolve this matter is to utilize the service of a 3rd Party stock auditor.
Ultimately, having a combination of your own, internal controls together with an external stock auditors services, is the perfect combination that will inevitably minimize any potential stock losses.
Sign up to hear we can help evolve and grow your business. Don't miss out on how we can help reduce losses and help increase profit.