How To Assemble Your Hospitality Dream Team

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.

Although hospo owners wear many, MANY hats (you wouldn’t try to fix the dishwasher would you?!) there really are some you just shouldn't try on. Below is our list of external services you should strongly think about engaging. I.e. your hospo dream team. Everyone needs advisors and mentors in life and in business, whether they are friends, industry peers or professional services – admitting what you don’t know and asking for help is a strength, not a weakness.

Marketers

These days you can really tell the difference between businesses muddling through social media and websites themselves and the ones that are getting some help with strategy and content. If it’s within your means get in touch with an agency or freelance professional, even if it’s just for a brainstorm. 

Lawyers or solicitor

When buying, selling or negotiating a lease renewal, it’s worth seeking out a commercial specialist firm, rather than the old-school generalist who did your property development 10 years ago. Worth every penny. 

Insurance broker

The price benefits insurance brokers can achieve are huge in comparison to any policies you can find yourself. Additionally, insurance is a complicated industry and mistakes in your application could void your policy. Not good. 

Bookkeeper

There is a huge difference between getting it done and doing it well. Good bookkeeping isn’t only for record keeping and compliance, but for KPI reporting and correctly categorising all your expenses for the ATO. We know some people who can help with this ;)

Accountant

Accountants commonly work across multiple industries so finding someone who ‘gets’ your industry and sees the common difficulties and pitfalls is invaluable. At Cafe Bookkeepers we offer personalised accounting and bookkeeping for every business and our services are tailored to the hospo industry. Get in touch if you need some help.  

Business broker

If you are ready or starting to think about what is next, we advise getting an expert opinion on preparing your business and the current state of the market. Our sister business Prospertality, is a great place to start, they’re the only NSW brokers to focus entirely on hospitality.

While the notion of a hospitality consultant may not float your boat, it could be a risk and hard-to-track cost, but if you work with good people they’re likely to be happy to talk through any issue or question you have.

At Cafe Bookkeepers we have an office full of super-experienced hospitality specialist bookkeepers, accountants, operations managers and business brokers. We see the industry from many angles and thanks to working with hundreds of different hospitality businesses over the years, we know what we’re talking about! Need a hand? Get in touch.