Hospitality client sector
Hospitality is an Alexander Accountancy speciality, with Wayne Penlington having worked in this sector from 2009 before joining us full time in 2014.
Alexander Accountancy clients have ranged from sandwich shops, through to pop-up cafes and restaurants right the way up to professional golf and leisure clubs. Primarily, the most typical clients have been public houses serving food and upper end restaurants.
How we help the hospitality sector:
Hospitality has always been a challenging sector due to tight margins, trends and fashions.
These pressures were exacerbated by the restrictions through the pandemic and now the sector has been hit again by reduced disposable incomes and the National Insurance rises, as it is a labour-intensive sector.
The hospitality sector is also vulnerable to employment and VAT challenges. Waiting staff can generally be younger and subject to minimum wage regulations, whilst VAT rules can be quite complex and vary according to the type of food and how it is delivered. These issues can cause businesses to re-evaluate their progress on an annual basis which is where our industry specific knowledge and experience can be invaluable.
Alexander Accountancy’s approach:
Alexander Accountancy has a range of service propositions for businesses of all sizes in this sector. The model used is determined by the size and type of business, any challenges they may have and the desired outcomes. A particular speciality is future modelling to advise on viability and aid in plans and decision making.
Sector insights:
The hospitality industry appears beset with challenges around costs and customer buying habits, whilst some venues appear to be struggling and facing the heightened risks of closure. Alexander Accountancy believes that with the right financial plans and proactive marketing there are still opportunities for businesses to consolidate their position or grow.
Most businesses we work with in this sector are pubs or restaurants. The best time to approach us is at the planning stage when forecasts can help examine the viability and plan the way forward.
How we add value:
Alexander Accountancy has a strong track record for helping hospitality businesses open, ride out challenges and successfully survive in difficult and changing times.
Our sector connections:
Due to the number and type of hospitality businesses Alexander Accountancy deals with, we can learn about the strategies used by successful companies and share these with other non-competing venues.
Sectors
Construction
Creative
Hospitality
Manufacturing
Property
