Beat the downturn in 2009: part one
As the business development consultant leading The Publican's Sell More, Save More project for the past two years, Carl May of Catered 4 knows a lot about helping pubs make the most of their situation. Here he offers his own 10 steps to help pubs through the credit crunch:
1. Check all purchase prices
You may have a great working relationship with your suppliers, but don't forget you are their customers. Speak openly about needing the best possible deals.
2. Motivate yourself and your team
It's tough when things are tight - but if you cannot keep focused and motivated then neither will your staff.
3. Develop your unique selling points (USPs)
It's going to be tough to get people off their settees, so you need to offer something they can't enjoy at home. I firmly believe people will still want to get out and enjoy the social community of their local pub.
4. Check your stock
Keep levels down so you do not tie up valuable cashflow. Take stock and be aware of your percentage margins and strive to drive them up by controlling costs and wastage.
5. Utility usage and prices
Make all your staff aware of the huge cost of energy and involve them in helping you reduce usage. Also shop around and check that you are achieving the best rates - threaten to take your business elsewhere.
6. Marketing
Plan well in advance and use cost-effective methods of marketing your pub. Produce your own monthly newsletter on your home computer and consider well-targeted leaflet drops that you can also produce in-house. Remember that a little regularly is better than one big advertisement. Develop in-house marketing by holding community get-together nights.
7. If you start it, keep it going
Too many people panic in situations such as these and end up starting hundreds of different campaigns, only to fail to keep the enthusiasm going. If you try a pub quiz and it doesn't work the first week, don't give up.
8. Train your team
It may seem strange to spend time and money to develop your staff, but the difference between a bad pub and a good one is the people who work in it.
9. Ask for help
If you are struggling, do not bury your head in the sand. With a fresh pair of experienced eyes, a huge difference can be achieved.
10. Keep it clean
Do not let your standards of cleanliness and décor drop. Now, more than ever before, you need to make sure you show off your pub in the best light.
Tell us how YOU are tackling the crunch. Email news@thepublican.com