Personal Licence Courses for the Hospitality Industry

5 Steps to Increase Your Pub’s Profits

There’s a key difference between the amount of money you take and the amount of profit you retain. The difference? – The knowledge you have AND the controls you have in place to ensure you know where all of your money is going!

An old saying; Turnover is Vanity, Profit is Sanity!

Here are the five key aspects of running a financially well-controlled business:

  1. Understanding the business application & benefits of Profit & Loss (P&L). Accurately calculate & apply sales & expenditure to a P&L, and outline the main factors influencing your income performance.
  2. Calculate and analyse trading accounts, quantifying positive and adverse performance. Identify reasons and recommend appropriate action.
  3. Categorise, calculate and analyse business costs and expenses to quantify positive and adverse performance. Outline the impact on net profit (cash and %), providing reasons and recommending appropriate action.
  4. Calculate and explain the relationship between fixed costs and depreciation to business profit. Calculate and apply spend per head, volume and break-even to determine appropriate business strategies.
  5. Outline the budget and forecasting process, explaining the benefits and analyse relevant business information to construct appropriate P&L budgets/forecasts.

Don’t become a Busy Fool, get a grip on the financial well-being of your business, convert turnover to profit in the best possible way.

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