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