headoffice@hospitalityoptions.co.uk
Case Study 2023
Case study 2023
HOW WE HELPED A PRIVATE INVESTOR TO RESTRUCTURE AND TURNAROUND A £2 MILLION AWARD WINNING MULTI-LEISURE OPERATION IN THE MIDLANDS.
We were recently approached by a private investor's bank to conduct an independent review of a small group of sites that required future funding to continue trading. Our team was able to provide a thorough assessment of the cashflow, management accounts, budgets, operational standards, and competency of the management team.
Our recommendations included separating the main multi-site venue from the group, introducing new systems for management accounts and payroll, and bringing in an independent stock taker to monitor and control costs. We also introduced a new Executive Chef, rebranded the restaurant, and launched a new menu concept that was costed, priced, and agreed upon through tasting sessions.
The results were impressive: we were able to reduce wage costs, improve food and wet gross profits, and evaluate social media to create a healthy following of customers. We also amended opening hours and restructured rotas to further reduce wage costs.
Thanks to our work, the investor was able to raise short-term funds to dispose of non-core businesses and continue to operate the single multi-leisure venue on a profitable basis independently.
At Hospitality Options Ltd, we take pride in our ability to provide independent and thorough reviews that lead to positive outcomes for our clients.
