We think Slack is a fantastic tool for small businesses and especially hospitality (we use it all day long). It could take your venue communication and company culture to the next level.
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Economic inflation is already with us, understand how it will affect your hospitality business and some of the key decision you need to make. What is inflation? Inflation is an economic term for a general increase in prices and fall in the purchasing value of money.
f there’s one thing we’ve enjoyed about the COVID-19 pandemic it’s the creativity, innovation and can’t-stop-us enthusiasm we’ve seen from hospitality businesses. From creating an online delivery platform and turning cafes into shop-like bakeries, to preparing high-end, eight-course degustations to eat at home, the industry on the whole has been resilient, and of course, hospitable.
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We’ve said it once and we’ll say it again: if you’re serious about giving your hospitality venture the best chance you can, investing in marketing, particularly social media, is an absolute must. In this month’s blog we look at the benefits of outsourcing this vital task, how it can be done and insights from one of the best content studios in the business, Buffet.
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Ever thought about opening your own hospitality business one day? Maybe you have worked in hopso your whole career and see money going through the business but not sure where it all ends up? Maybe you have business experience in other industries but you’re not 100% sure where profit is made and lost.
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We made it! It’s well and truly time for a little Christmas-in-July ham. It goes without saying July 2020 to June 2021 was one of the craziest financial years in memory, at least here in the Cafe Bookkeepers office.
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We understand better than most how time consuming running a hospo business is – more often than not the focus is on staffing, service and product quality. Customer satisfaction, naturally, should be your number one priority though, given its status as the one thing that converts to revenue, positive reviews and a pumping biz.
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We’re the first to see it – hospitality owners often hold their cards very close to their chests. The most ironic part? Any problem a hospitality owner faces is likely to have been encountered by others so seeking expert knowledge is 100% power and peace of mind.
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A tale as old as time, and one folks in the hospo industry are often debating: to do the books yourself, or outsource the task? In this month’s blog we look at what bookkeeping actually is and if it’s possible to do yourself. Read on, reader!
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It’s true, last year wreaked havoc on parts of the hospitality industry but for others, it meant unexpected growth and busyness out of extraordinary circumstances. Considering expanding this year may seem wild but it could be a better time than even – an opportunity that won’t pop up again. Stay tuned as we make a case for expanding in 2021, along with a few of the potential issues you may encounter.
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Last year was challenging for everyone and the hospitality industry was arguably one of the hardest hit. With 2020 in the wind (PHEWF) we’re excited to look forward into 2021 with optimism, energy and a thorough strategy. Need help looking ahead? Check out our six top tips for the new year for hospitality owners and start the year as fresh as market produce.
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We’ve seen it all too many times – young guns opening venues with fire in their bellies and passion in their eyes. They feel they’re great employers, teachers and community leaders, but at the end of the day, the return on all their hard work isn’t up to scratch.
The biggest mistake we see is what we call “death by 1000 cuts”. They’re individual concessions, not strictly mistakes, which ultimately leave business owners with too small a piece of the pie.
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Is cash dead? It may be the hospitality business conundrum to end all hospitality business conundrums. Since tap-and-go payments became a thing, carrying cash has become somewhat of a burden.
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By now we’re sure you’re familiar with Chris’s story. As a first-time small business owner, he was arguably overly confident. Stick with us to see how Chris’s future played out, and read part one and two for more background info on how he got here.
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We trust you’ve met Chris. He’s the headstrong young man who dove headfirst, eyes closed into opening his first hospitality venue. Read more about the early days of Chris’s cafe here and we’ll continue his story …
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Meet “Chris”. He’s been in hospo for years, was a shit-hot bartender, worked club doors when they were good and has run venues all over. He’s tired of working for others and finally has the cash to open his own cafe in the suburbs. He knows the industry, all the tricks and is planning on making a tidy sum. No stress!
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The last six months have been overwhelming for everyone, and the hospo industry has had it particularly rough. While retail businesses often have certain infrastructure already set up, many businesses, especially initially, had to scramble when lockdowns were implemented in March to be able to provide their service or product in an accessible or even legal manner.
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Hospitality is a very lucky industry in that more often than not, revenue comes in very fast – services are consumed, money is paid. This immediacy is awesome as it removes the anxiety of having to wait for things like invoices, which can drag on – there’s no invoicing a diner! – though having said that, hospo folk often do the opposite when it comes to paying others.
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While the worldwide pandemic has brought the globe to a standstill, it’s also brought about a fresh outlook and offering for some Australian hospo venues.
Small Talk Coffee & Snacks in Dulwich Hill, Sydney, was one of the lucky few, and as their dedicated hospitality bookkeeper and tax accountant we couldn’t have hoped for a better outcome for owner Sam Terrey’s small hospo business.
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Underpayments are currently a scorching hot topic, and with the recent revelations about Woolworths and Bunnings, the debate could spill over from hospitality into all industries.
Back in the hospitality industry, unfortunately, under-payments have been normalised in many workplaces, and in our experience, can take a variety of shapes and forms.
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