Finance

Finance

The fiscal strategy and continual monitoring of costs is paramount to the financial success of any new or existing hospitality venue. With Will’s vast experience and degree’s in financial controls, Concept Hospitality is able to advise the best financial and technological solutions in every area of your business to ensure all costs are being met and margins are well aligned with forecasting to produce consistent and accurate results.

Concept Hospitality is able to ascertain the projected profit margins from owners and demonstrate a financial path on how clients are able to achieve this. As well as emphasis on financial tracking and projection, client relations with suppliers and setting up fixed price contracts or negotiated pricing structures is an integral part of the procurement process. This process can see clients receive large discounts on volume orders, fixed pricing for specific items or rebates on overall orders on a monthly or quarterly basis. By using back of house technology, areas such as wage cost, food and beverage costs can be easily tracked.

Areas that we focus our financial strategy on:

  • Beverage pricing structure and strategy
  • Food pricing structure and strategy
  • Cost of goods management
  • Forecasting and budgets
  • Wage cost management
  • Back of house financial reporting
  • Daily / weekly / monthly forecasting
  • Daily / weekly / monthly sales tracking
  • Supplier relations setup and contracts
  • Back of house procedure and management