Our hospitality stocktaking services
Hospitality & Leisure Stocktakers you can count on
Our extensive network of skilled professionals allows us to offer industry-designed systems and services to all sectors within the hospitality and leisure industries. Maybe you’re operating a short-term tenancy with one of the UK’s major pub companies or regional brewers, or you have an investment in a long-term lease or freehold, either way, a professional stocktaking service is vital to the long-term success of your business.
By tracking these key elements needed to improve profitability, you can quickly take remedial action – prompt action saves money.
As well as providing detailed stock information on a site-by-site basis, Stocktake UK’s Corporate Management offer a range of additional services and support.
Stocktaking Services FAQ’s
Stocktaking is so much than “counting bottles”, we process all purchases and sales and produce a detailed financial report that is adjusted to reflect all allowances, promotions and wastage.
Since we specialise in stocktaking to the Hospitality Industry we carry out this process for both Liquor and Food stocks, and for the Liquor stock we can provide a detailed variance report vs sales recorded by your till.
See our sample reports to understand better what you will received.
External Stocktaking is crucial to a hospitality business, as it gives the operator regular updates on how well their business is performing. However it doesn’t stop there, because our stocktakers are so experienced they don’t just rely on their PC to produce a report, they advise on ways to reduce waste, identify theft or loss, and ensure accurate financial reporting. Regular stocktaking also helps manage costs effectively and maintain optimal inventory levels.
It’s recommended to conduct stocktakes about once a month. However, some smaller operations may opt for bi-monthly or even quarterly stocktakes. Extended stock periods are not recommended as it becomes harder for us to help you identify and correct issues.
If you are only interested in stock inventory values, we can provide one off valuations for business transfer, and year/half year accountancy needs.
The time required for a stocktake depends on the size of your business and the volume of inventory. However we would suggest the following is true
4 hours, typically a liquor Stocktake at a small pub, restaurant or hotel.
4 – 6 hours, would accommodate a larger liquor stock audit, or a small food and liquor Stock audit.
Full day (up to 8 hours) might cover a cocktail bar, larger Hotel/Public house where Food and Liquor forms a large proportion of sales.
We do also provide stocktaking services at significantly larger establishments, where either more than 1 stocktaking day is required.
No two stocktakes are the same, and our stocktakers prefer to provide every client with a tailored quote to suite the business. However basically the following factors affect the price of our stocktakes.
Length of time it takes to complete the stocktakes (see above), basically the quicker the cheaper it will be!
When you want the stocktake. Many clients want the a month end visit (to tie in with financial period ends), however we can’t visit everyone on 1st month. Therefore, the closer you want a visit to the 1st of the month, the more expensive it will be (and the less availability we will have to offer you).
Where your premises are. As you will know the costs associated with travelling into and working in Large City Centres are significantly greater than in the suburbs. Likewise if you are in a less accessible area (e.g. Scottish Highlands or Isles), then we will have more travelling to get to you.
Please call us and we will be more than happy to prepare a tailored quote for your business.
Our reporting can be exceptionally detailed, or very simple. Essentially you can choose, so long as you can provide us with the necessary information.
A detailed liquor report can include (costs may vary)
- Operations Report – including Stocktakers notes re your stock result, their findings and suggestions for the future. Any compliance reporting will be included on this, e.g. Spirit tests etc.
- Financial Summary – All the financial info you need in one place. Surplus/Deficit, GP, Stock on Hand, Stock Yield, Allowance.
- Detailed inventory – including product pricing and GP
- Cost Price Change report, including suggested new retail prices to maintain GP
- Purchase details and summary.
- History Summary – showing performance over time
- EPOS Variance report – detailing gains/losses compared to EPOS sales
- Cash Count/Reconciliation
- Revaluation – If you have a set period end date, we can revalue the overall stock on hand forward/back to that date.
- For group customers we can tailored stock reports to your requirements and provide Group Summaries.
Typically a simplified report (often used for valuation purposes), will include
- Operations report
- Valuation Certificate
- Detailed Inventory
Food stocktaking is generally a simpler reporting set than liquor, and will include
- Operations Report
- Financial Summary – GP, stock on hand, and Allowances
- Stock inventory
- Purchase Information – by supplier, there is no product breakdown with food.
- History Summary
Don’t panic, our stocktakers are experts in their field, and they will take you through all stock results (good and bad) and help explain where your stock control can be improved. Given that we perform thousands on stocktakes every year, our stocktakers will have seen every scenario possible, and should you chance upon something new, they have the backup of our Head Office and network of 70+ other stocktakers to help them out.
Logonn – Our online stock management system
In addition to traditional stocktaking services, our internet-based stock management system ‘Logonn’ provides a valuable and efficient tool to conduct in-house stock auditing, with 24/7 access and support by stocktaking experts. Operating from any internet-connected PC, LOGONN allows interim stock results, line checks and historical reporting at a time suitable to the end user, all for a fraction of the costs of other comparable systems.
Discover more about Logonn and download a free trial at: https://www.logonn.co.uk
Explore The Possibilities
Are you looking for Stocktaking Services or are you considering joining our team of Stocktakers? Contact our team on 0800 027 4128, email info@stocktakeuk.co.uk or fill in the form below to take the next step.
