10 Signs Your Hotel Needs Hospitality Consulting Services
No entrepreneur can do it all by themselves. Along with rising costs and changing industry dynamics, small-volume operators may find it even more difficult to thrive. They may not have the financial resources to hire full-time experts to oversee operations 24 hours a day seven days a week. Moreover, keeping up with the ever-changing trends requires hospitality owners to plan ahead.
Even though time is a crunch, operators can hire hospitality consultants to optimise operations, streamline processes, identify and eliminate loss-incurring areas, and help maintain profitability all-year round. Consultants are pivotal to the success of small hospitality businesses.
But, when does this luxury become an absolute necessity? When is it critical to hire consultants for your hospitality business? In this article, we will identify the top signs that your hospitality business needs a consultant.
- Operational Inefficiency
Are you noticing a lag in sales, management, or any other area of your business? Are you unable to pinpoint the reason or failing to rectify the problem? A hospitality consultant can come in handy here.
Hospitality consultants take charge of everything from finances to asset management. They continuously oversee various departments in your business and create strategies to refine procedures. A consultant will also monitor your sales and other employees to streamline all departments into a single cohesive unit.
- Poor Planning or Decision Making
Planning and decision-making are key to a hospitality business. Sudden changes in demand or regulatory changes necessitate ad hoc decision-making. You must also plan for the short-term and long-term to grow revenue sustainably. If you lack expertise in certain areas, such as financial or inventory management, it is likely your decisions are affecting your business negatively.
A consultant has experience in various hospitality departments. From pleasing customers to improving design and decor, they know what customers want and can help you make crucial decisions for business success.
- Consistent Losses
Is your business consistently accruing losses to the extent you fear its closure? If so, hiring a hospitality consultant is the best way forward.
A consultant knows how to turn things around if your business is in trouble. They will identify strengths and weaknesses in your business to capitalise on what is working and improve areas lagging behind. They can suggest changes and when to put them into action to make your business successful. In short, having a consultant can make or break your business.
- Inadequate Staff or Training
Your staff can make all the difference when it comes to excellent customer service or unsatisfied patrons. Having adequate and properly trained staff is key to providing a top-notch customer experience. Hiring a consultant may be a good idea if you notice a growth in poor reviews or feedback.
No one knows how to hire and train the right people better than hospitality consultants. They can assist with recruitment drives and train your staff to ensure superior customer experience.
- Stock Control Issues
Overstocking and understocking are both destructive for a foodservice business. Overstocking leads to stock wastage, whereas understocking may create non-availability of in-demand items, both scenarios affecting profitability. But they also reveal an underlying issue – poor stock control.
Be it theft, supplier issues, or poor handling, inventory management is essential for hospitality businesses to achieve profitability per product. A full-service consultant, like Hospitality Partners, can conduct regular stocktakes to identify discrepancies in stock levels and take measures to prevent them from occurring again.
- Lack of Market Expertise
The hospitality industry is indeed challenging. Overcoming changes in consumer preferences, competitive landscape, and emerging trends can be daunting for a hospitality operator.
The consultants at Hospitality Partners have a deep understanding of the Irish market landscape and can help your business stay ahead of the curve.
- Inefficient Marketing or Branding
Are you struggling to rope in new customers? Your marketing and branding campaigns may need an overhaul.
A hospitality consultant can create effective strategies for branding and positioning your business in front of prospective customers. They are skilled at creating online and offline campaigns to improve trust & business image and help your business gain a competitive edge.
- Outdated Technology
If your business is still relying on age-old methods and tactics, it is probably falling behind the curve and losing its edge. The rise of AI and other technological trends in the hospitality industry is also making it difficult for small players to adapt.
A professional can advise on the use of new technologies, oversee their adoption across your organisation, and train staff to become familiar with tech changes. Overall, a consultant will ensure the highest possible ROI from technologies that streamline operations and improve guest experiences.
- Non-compliance Issues
From adhering to sanitation and hygiene standards to proper reporting and other regulatory requirements, a hospitality business must ensure they comply with local and national laws. Any infringement may invite hefty fines and even closure.
By hiring external help, you can ensure your business adheres to laws and standards.
- Stagnancy
When was the last time you thought about expanding operations, taking over a competitor, or simply conducting a market feasibility study? If you haven’t yet, your business is in stagnancy with limited scope for growth.
A consultant will conduct market feasibility studies, make financial projections, and recommend tapping into new ventures, expansions, and renovations. They have an external, eagle’s eye point of view of your business, enabling them to analyse profitability and market viability and take the necessary steps.
Hospitality Partners: Your Full-service Hospitality Consultants
Hospitality operators need external help to make their business tick. Hiring an experienced consultant can improve your business in many different ways.
At Hospitality Partners, we can handle all the duties and operations across different departments in your establishment. We will oversee operations, management, guest experience, inventory levels, compliance, marketing and branding strategies, and everything else to ensure your hospitality business thrives in the short and long term.