Hospitality

Hospitality

Smart financial management for independent restaurants, pubs, hotels and catering businesses designed to monitor and improve both business performance and profitability.

Organisations in the hospitality sector tend to operate in a very competitive marketplace that is sensitive to the economic climate. We find 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  

Wellers hospitality team 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