The hospitality sector in Ireland is currently facing a “perfect storm.” Energy costs are up, labor costs are rising, and the price of ingredients is skyrocketing due to inflation. In this harsh economic climate, survival depends on agility. You cannot wait until the end of the financial year to realize you lost money.
This is where the role of a stocktake company in Dublin evolves from simple auditing to high-level business consultancy. At Hospitality Partners, we don’t just give you a list of numbers; we give you a roadmap to navigate inflation.
Dynamic Pricing Strategies In the past, you might print a menu and keep the prices the same for a year. Today, that is financial suicide. If your supplier increases the cost of beef by 20%, you need to know immediately so you can adjust your menu price or switch suppliers. Our detailed reports highlight “Cost Price Creep.” We track the price of every item over time. If we see that your craft beer supplier has quietly raised prices by 5% over three months, we flag it. This empowers you to pick up the phone and renegotiate, or delist the product.
Waste Management as a Profit Center When margins are tight, waste is the enemy. It is literally throwing money in the bin.
- The “Comp” Culture: In Dublin, the culture of “comping” drinks is strong. But unrecorded comps look like theft in the data. We help you implement systems to record wastage and promo drinks accurately. This ensures that your marketing budget (giving a free drink to a regular) is tracked as an expense, not a loss.
- Draft Yield Analysis: We analyze the efficiency of your draft system. Are your coolers working efficiently? Is your line cleaning schedule causing excessive waste? We provide the data you need to fix mechanical issues that are draining your kegs.
Forecasting and Cash Flow Overstocking is a cash flow killer. There is no point having €20,000 worth of vintage wine sitting in a cellar if you struggle to pay wages on Friday. Hospitality Partners helps you optimize your “Stock Days on Hand.” We identify slow-moving lines that are tying up cash. We help you run a “lean” operation where you hold enough stock to never run out, but not so much that your cash is collecting dust.
Conclusion Inflation is a challenge, but it is manageable with the right data. You cannot control the energy prices in Dublin, but you can control your Gross Profit margin. Don’t fly blind in a storm. Partner with Hospitality Partners, the stocktake company in Dublin that turns data into defense against rising costs.