Business and Strategic Planning

Improve your revenues and profit

Business and strategic planning must be a top priority for hotels, restaurants-bars and visitor attractions.

For a start, I focus on an in-depth business review. This includes assessing revenues, expenses, staff and management, competitor set and more – all related to your past performance. Then I start sorting the puzzle pieces.

A major part of any plan is setting objectives and targets. These targets and objectives must be clearly defined, for example outlining how goals are to be achieved, utilising available and possibly new resources – for one year in advance.

The business planning process I propose will provide you with achievable and realistic targets. You will be able to:

  1. measure your achievements
  2. monitor your business performance
  3. compare your competitiveness more accurately

You want to know more details?

Target driven future planning

Most businesses today have very good historic business performance information such as monthly profit & loss statements, occupancy percentages, yields, average customer spend or visitor numbers etc.

However, hardly ever is this valuable data converted into a plan which focuses on future business development. Forecasts are often made by adding x% to last year’s performance. Is this good enough?

My objective is to establish realistic targets – with you – based on historic data and by looking into the future.

You and I must anticipate impacts for example seasonal events, market conditions and the competitive situations. Based on this we develop activities (e.g. sales & marketing initiatives) and goals (financial forecast and operational budgets).

Cost and expense assessments will be carried out and we will provide valuable suggestions on how to make your business more efficient and profitable.

Business planning will provide you with tangible targets and actions. This business plan will enable you to measure your business performance and compare your competitiveness.

Be aware: if you fail to plan – prepare to fail

You really can’t do without planning! Contact Hospitality Advice to discuss your business plan

One step up – Strategic Planning

Strategic business planning is a medium to long term planning process. It demands reviewing the direction of your business and making decisions regarding your desired future ambitions.

Three important questions have to be answered:

  1. Where are we today and “what do we do?”
  2. Where do we want to be in the future and “for whom and why do we do it?”
  3. What should we be focused on today, in order to make it more likely to achieving our long-term goals in the future – “how do we excel?”

I also assist new businesses and/or projects with business and strategic planning.

You can use my business plan document or even just the financial forecast for obtaining project financing.

If you don’t have a plan – how do you know where you are going? Contact Hospitality Advice to discuss your requirements.