SUBMITTED BY ASSOCIATE MEMBER FRANK VANDERKOON OF SCULPTURE HOSPITALITY
I don’t claim to have all the answers but as someone who has spent my entire life working within the hospitality industry I certainly do have insights into some areas of your business, particularly around stock control, where you can make immediate changes that will help your bottom line and most importantly improve cash flow when you reopen your doors. To kick things off I want to first discuss stock holding levels and dead stock. Although you may not be able to action these steps right away if your venue is currently closed – as soon as you re-open this will immediately reduce your weekly spend on stock purchases and vitally give you more cash flow to play with. Remember – in times like these – “Cash Flow is King”
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