5 is the magic number

It almost goes without saying that in today’s challenging economy, all
independent venues are looking at ways to maximise revenues.

How many of us have experienced the sales manager proclaiming that sales
are up on the previous year and what a great job they have done? I can almost see your head nodding as you read this.

I have to admit that as a Sales Manager I, too, have been guilty of making
claims like that over the past four years – having increased sales, each time,
by more than 20 per cent.

Of course, that’s always great news for any venue. But independents need to look at doing much
more than just increasing sales.

My belief is that it’s actually the other page of the ledger book where independents
really need to focus – and that’s your costs.

So, sales are up, but those conferences didn’t “do the business” – and not
because you may have ’done a deal’, but simply because the margins weren’t looked
at in the right light.

My advice to all independents is to find someone out there who can help
make the business engine run more effectively.

For me, it’s Beacon – the largest purchasing consortium for the
hospitality industry. By working closely
with them, we can take advantage of their high-volume buying power to cut costs
across a range of products and services.

In fact we save between 10-50 per cent on everything from cleaning products to
crockery and TVs to maintenance costs, which otherwise, as an independent, we
could never achieve.

Working with partners like Beacon means you can make a real difference
to the bottom line; which is even more important in the current tough economic
conditions. Locally, I’ve seen four
venues close and one go into administration for over a year.

Obviously, increasing sales is crucial.  But manage the other end of your business by
as little as 5% and you can save yourself over a quarter of a million pounds!

Where
are you going to find that kind of business this year?  Well its right
in front of you!  Just take a closer look and you will find it.

Five per cent.

That’s all we need at the top of the business and at the bottom.

Any comments? Email conferencenews@mashmedia.net

ConferenceNews Guest Author

Conference News hosts great guests on its pages. Our Blog section is the collection of the best opinions in the UK and international events industry.

ConferenceNews Guest Author

Author

ConferenceNews Guest Author

Conference News hosts great guests on its pages. Our Blog section is the collection of the best opinions in the UK and international events industry.

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