hotel

What to demand from a property audit

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 you getting for you 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 effect your life, your ownership, your staff, and most importantly, guests?

 

 

You should expect to find out answers to these 3 questions:

 

     

 
   It's all about the Sizzle!

Why do patrons go back to restaurants? Why do they recommend to their friends and post on social media? What does it really take to make a restaurant great? Sometimes it can be the food, often the service, and usually the atmosphere. More often than not, it is a combination of all of the above, sprinkled with a little extra SIZZLE!

Sizzle is what helps a restaurant stand apart from others and be successful! Let’s try to define Sizzle. If you review the trendy and popular restaurants, you will find that they all have something in common - that little special something, magic, or Sizzle, that makes all the difference.

Take the art world, for example. You can look at a painting, one that has lots of good qualities, is accurately painted, has a great background, has good color, depth, and even nice highlights, but it can be missing that magic that makes it pop! It can even be missing some of those qualities. But, if it has the Sizzle, it can make up for some shortcomings because it has something that sets it apart from the crowd.

     

 
   The Bottom Line

We all work hard to earn a dime these days. In the restaurant business, it can be very hard earned, and you want to keep all those dollars and put them in the bank. Here are the top five areas to be on the look-out for:

 

1.     Purchasing - look at your purchasing practices.  Contracts and procedures are key. Do you have a purchasing agreement? Do you get weekly price quotes? Who is ordering and who is receiving? How does the process work? Are we buying the best quality and getting the best yield? I continue to see issues in this area. It is the biggest issue that I see and should be a priority.

 

2.     Labor - normally the number one expense that you will have.  Don’t take it for granted. Who is scheduling your team, and based on what? Do you compare income to labor hours? Without cutting the quality of service and preparation, there are many ways to be more efficient.  Is everybody arriving at the same time and going home at the same time? Staying busy in slow times? Are people taking lunch breaks? Do the staff leave or hang around on the clock? Look at it from all angles. I can almost guarantee your savings in this area.

 

3.     Theft - I have always trusted my team, and trust is an important factor in creating a strong team. However, don’t let that be your reason not to protect your investments. Unfortunately, you can’t always trust everyone. Have systems in place to rule out opportunity.  If you leave the bank door open, you would be surprised who will take a tour!  Close the opportunities so that people are not tempted. Look at all departments and positions.

 

4.     Portion control – over-prepping and over-pouring. Know what your meal and drink sizes are and stick to them. Value for the money is important. Give what you think is the right size for what you are charging; just have systems in place to make sure that you do so.

If you need guidance in this review process, contact me