How to Apply for a Loan for Your Hospitality Business
Entering the world of entrepreneurship in the hospitality industry is an exhilarating journey filled with promise and potential. However, one of the fundamental steps to turning your vision into reality often involves securing the necessary funding. It’s important to understand your financials and potential borrowing capacity. These are some of the key things to consider […]
How To Get The Most Out Of Working With a Hospitality Business Broker
Part 1: Understand Your Accountant’s Limitations When Appraising a Business Welcome, dear readers, to an enlightening series that dives deep into the fascinating world of business brokering. As an experienced professional in this field, I’ve had the privilege of facing a wide range of challenges, each of which has contributed to my growth and resilience. […]
Team Culture and HR Systems For Cafes
How to Work Out Your Breakeven Figure
In this video we’re going to talk about the breakeven figure, your breakeven figure is how much money needs to be in your till, or how many sales you need to make each week to cover your costs. This simple spreadsheet has been designed purely for you to be able just to […]
How to Sell A Café – Planning the Sale – Ten Quick Tips.
If you skip the planning stage then you can run the risk of coming across nasty surprises later on that can stall the sale, i.e. problems with your lease or problems that may mean that you end up with less from the sale than you expected. I have had both of these things […]
Goal Setting For Café Owners
Where did January go? With the first month of 2020 behind us here we are in a brand new month. What goals have you set for February? Have you got a plan in place to make sure that your business is growing year on year? Do you have a plan […]
Staff Meetings
When was the last time you held a team meeting? With all the talk of slower trade in the industry due to the current economic downturn it could be a good time to refresh, retrain and remind your staff of their obligations. Write notes on areas of your business that you know […]
How to Sell a Café – The Three Stages of the Sale
The Sale Process – Stage one – Planning Selling a café or any hospitality business is not like selling a business in (most) other industries. I am sure that I don’t need to spell out the main difference, the subject of the “C” word is probably a whole post on its own. Whilst the […]
How to Apportion Goodwill, Fixtures and Fittings
The split between goodwill fixtures and fittings is something that will be agreed as part of your sale negotiation, knowing your tax position and what will suit you best is going give you the best chance of getting the terms that you want. If you have this figure worked out before you agree […]
How to Calculate Your Food Cost Percentage
How to Calculate Your Food Cost Percentage Video Transcript. Following on from the menu costing spreadsheet that we sent out recently or you may have downloaded with regard to working out what your food cost percentage is, I’ve had a couple of questions from people about asking “how can we […]
How to increase Cafe Profits – Menu Costings
One of the biggest factors when working out the potential sale price of your café will be the profitability. Whatever stage you are at whether you are on the market now or just wanting to make plans to sell further down the track then this is a good exercise to go through. Periodically […]
