8 Ways to reduce theft and waste in your bar by Venners Ltd, a national F&B stocktaking and loss prevention company Whether you run pubs, bars, restaurants or hotels, theft, wastage and spillage will reduce the profitability of your business. Improving your handling of each can have a significant impact on gross profit. Here…
Bar Wastage is defined as any pint, bottle or measure of any product that could have been sold but due to poor quality, human error or fault, no sale took place for the product, thus resulting in lost revenue and profit. If you had no wastage, you would be making more profit and this is the…
A prestigious hotel group reaped the benefits of commissioning Venners to manage their full UK estate’s stocktakes. Within the space of 11 months they saw a resulting £83,734 total profit increase. Improved GP percentage of 3% over the space of 11 months A significant reduction in excessive stockholding ROI of £49.5K The hotel group, which…
Venners characterise their new consultancy service as ‘following and showing you the money.’ Respecting the skillset of employees, they point out that it’s impossible to objectively analyse your own business in the same way an external expert can, even if it were possible to replicate their cross-sector skills and experience. Venners Consultants have defined eighteen critical…
The ‘perfect’ pub, that was in fact victim of a systemic £2m fraud operation running for ten years; a frightening example to multi site operators, of the dark possibilities of fraud. Conceding there might be a slight problem or at least some lessons to be learned, owners of this managed house called in Venners to investigate.…
A reliable and trusted deputy manager who now serves as a reminder to never underestimate the sheer audacity of some people, after unnervingly walking away with £40k in cash. This saintly assistant managed to confuse administrators after erratically depositing sums of £20k and the weekly balance later in the week. Particularly late one bank…
A bit of under ringing here, the odd staff drinks there. Who would have thought that could add up to £44,700 in annualised losses? In a five hour under over observation, there was certainly great team spirit and commitment, even team members ‘helping’ after they had clocked off. Always suspicious… Noting transactions, methods of payment,…
An innocent mistake that resulted in a major scam involving nine employees, proving that no matter how robust systems are, they will be tested as people discover the weakest link. An employee accidentally transposed cash and voucher income on the cash sheet, under banking £10. Expecting a call when posted vouchers didn’t match the…
Many businesses have good levels of sales but if they are haemorrhaging stock through poor controls then the operation is destined to fail. Here are five ways to help to improve your yield:
Many businesses have good levels of sales but if they are haemorrhaging stock through poor controls then the operation is destined to fail. Here are five ways to help to improve your yield:
We’re continuing to support UK hospitality businesses with all their auditing needs throughout the pandemic. Contact us today about our lockdown specific services, which help you to control costs and minimise losses. For urgent support, please contact [email protected]