Hospitality
Wellers portfolio of hospitality clients includes independent restaurants, pubs, caterers and hotels of varying sizes, from multi-site operators to single location and start up businesses. Our track record built up over many years means we have an in depth understanding of the issues and challenges that hospitality businesses face. By combining our experience with technical advice and solutions, we can help you achieve your business goals and sustainable growth.
Companies in the hospitality sector tend to operate in a competitive marketplace that is sensitive to the economic climate. In our experience common issues include:
- Seasonal trading patterns and a lack of access to sufficient credit during quieter periods
- The treatment of tips, staff benefits and VAT that if not done correctly can result in an unwanted tax bill
- Difficulty in raising finance to fund expansion in terms of a new site or refurbishment of an existing site
- Maintaining margins in the face of rising food prices
- Compliance in relation to recruiting staff and health & safety
Our solutions are designed to help improve business performance and profitability – smart financial management. We can help you with:
- Bookkeeping, cash flow forecasts and management accounts. The provision of a back office function and software that allows you to better monitor the dynamics of the business on a regular basis
- Advice on producing a robust business plan and how to negotiate with banks and sources of finance
- Tax and VAT planning – identifying potential reliefs and savings
- Setting up a system that is compliant in terms of the treatment of tips under Tronc rules
- Assistance in acquisitions and disposals that maximises value for shareholders as both purchasers and vendors
- Fulfilling the role of Financial Director when required
Wellers reputation is based on our ability to deliver against our promises. Below is an example of what our clients think of our approach to service delivery.
“My previous experience of accountants was that they were very expensive and seemed to overcomplicate simple matters unnecessarily. Wellers have changed my perception thankfully.
What I like most is that they don’t make a meal of the process. They focus on what needs to be done and what we ask them to do. I can pick up the phone at any time and as they charge a fixed fee, I don’t have to worry about the meter running as I speak.
Neil and his team offer so much more thank just accurate management accounts, they offer informed insight into the operational side of the business that we find extremely valuable.”
Silla Bjerrum
Renowned Sushi chef and co-founder of Feng Sushi
Useful attachments:
Smart financial management for independent pubs and restaurants
Essentials guide: 10 tips for the new restaurant owner
London Hospitality Roundtable event 27 February 2012 - write up
Interesting articles:
Be the best - FSM Magazine, April 2012
Links:
Join Wellers Hospitality Group on LinkedIn
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