3 Ways For Hospitality and Retail Businesses To Maximise Profits During The Holiday Season
The holiday season is a fantastic time of the year. For most of us, this means food, family and holidays. For those of us in the retail and hospitality sector, it means all this and more. It is a busy time and staffing, wages and stocking can put extra stress on business owners and managers.
We know that problems with increased competition, food waste and changes in food trends are things to be aware of when maximising profits. This makes the busy holiday season critical to ensure that your business stays in the black. We know that your industry is competitive and profit margins can be tight.
We recommend three ways to maximise your profits and keep your sanity.
1. Use A Staff Rostering System
Do not rely on a spreadsheet that relies on people putting in information. Tanda is an integrated rostering and time management app with a few twists to keep things fresh. Tanda is cloud-based, real-time and connects to your point of sale system to capture all your staff’s logged hours.
Tanda’s can sync to your POS to capture all your staff’s logged hours. Staff can clock on and off from any POS terminal, ensuring your staff is accountable and you can track who’s working when.
If you need help with predicting how much staff you will need per shift, Tanda can help there too. The software uses algorithms to predict schedules. This software also has seamless payroll integration, easy employee onboarding and automated award calculators for hospitality Award rates set by Fair Work Australia.
2. Paperless Employee Onboarding
You might need to hire extra temporary staff to cover the workload. Another great option is Ento, a paperless employee rostering and onboarding system. This system has easy ways to onboard casual hires for the busy holiday season.
Your new hires have the ability to join your team with a digital onboarding experience. It is optimised for mobile devices allowing staff to manage every step of their onboarding from a smartphone or tablet. Another bonus is Ento’s digital contracts. Going paperless saves time, reduces errors and eliminates lost documents. Digital signatures allow your new hires to quickly sign all contracts and policies.
3. Start Your Financial Planning Now
October is the time to start planning your December. Speak to a trusted accountant to plan the financial targets you need to hit to maximise your profits during the busy season. Looking at your sales from last year can help project what your upcoming holiday period may look like. Problem areas such as extra staff costs or food waste can be reduced if you start early.
Interested in maximising your profits this December? Now is the time to book in for a free consultation with us.
We look forward to making this season your best quarter yet!