What to demand from a property audit
Three results you should demand:
Some hotels and restaurants spend thousands of dollars every year on property evaluations. Some are required by the brand, the ownership, or other third party. Some are better than others, and many bring little to no value to the property. You are paying a lot for these visits - you should expect more from them.
What are your getting for your money? Passing you audit is often the only real goal. What should you really expect from a good property audit? A lot of money is invested in you and your establishment, and a lot is expected. What would be the outcome if you could increase revenues by 3%? If you can save 5% on the bottom line? If you can increase the level of satisfaction, you can double those numbers. How would that affect your life, your ownership, your staff, and most importantly, guests?
You should expect to find out answers to these 3 questions:
· How are you missing the boat on revenues? Where are we leaving money on the table? Is it revenues, the sales process, marketing, social media, pricing, upselling, capture, take-out, events?
· Where are you wasting money? Purchasing, theft, overproduction, education, recipes, overstaffing, cost controls?
· How can you raise the level of guest satisfaction? What are guests saying? Associates? What is the level of engagement, level of hospitality, how are total experience scores? A good audit can be a great reality check on many of these questions, which are all part of the puzzle.
This is what you should ask for, and receive, from your property evaluations. It sounds simple enough, but there are many things to evaluate, and different angles to consider. Having a qualified and seasoned auditor, that uses a thorough and customized checklist is key. As well as one with industry based common sense, that will be honest and sincere with you. This level of property review can have tremendous value.
There are many companies that can do this; so, do a little research, ask the questions, and engage a company that can provide you with these valuable insights to help to improve your business outlook. The ROI on this type of evaluation can prove to be very quick!
Please reach out to Russ.Blakeborough@focus-fb.com for his audit details.