It’s been a difficult few years for the hospitality sector, and in particular senior managers within hospitality businesses. Changes in the way people socialise, the pandemic and the cost-of-living crisis have resulted in customers demanding better service and improved value for money, whilst increasing overheads have eaten away at profits. The consequence of this is that hospitality businesses have to be exceptionally well run to succeed, putting enormous pressure on managers to work harder and longer hours for diminishing return. Due to this lots of highly experienced hospitality managers have either lost their jobs or are looking for alternative careers. Andrew Consterdine, Managing Director at Stocktake UK discusses how stocktaking franchises offer experienced professionals a new career opportunity within a thriving sector of the hospitality industry.
The Current State of Hospitality
On the surface, the UK’s hospitality industry looks as robust as ever. It’s the country’s third largest employer, providing work for over 3.5 million people, and it contributes £93 billion a year to the economy. According to UKHospitality, this could rise by a further £29 billion by 2027 and result in there being half a million new jobs available.
However, the landscape is changing. While some areas are seeing significant growth, others are struggling. A quarter of all pubs have closed since 2008, over 11,000, and a third of all nightclubs have disappeared since the pandemic. This is a clear indication of evolving consumer habits. We are seeing a shift in nightlife, particularly among young people, and the impact of broader economic and social changes.
The Need for Stocktaking
Given the current state of the economy and its impact on hospitality, many businesses within the industry are working with much tighter profit margins. Today, every penny counts. For this reason, effective stock control has become far more important for businesses in the sector. It enables them to manage their inventory more efficiently, cut waste and improve profit margins. Keeping track of stock levels means managers can make better purchasing decisions, avoid overstocking or understocking and meet customer demand without unnecessary costs.
With the labour shortage in the hospitality sector showing no sign of ending, adding stock control to a Managers “to do” list is often a step too far. As a result, the demand for independent professional stocktakers with hospitality management experience continues to increase.
Stocktaking Franchise Opportunities
With more hospitality companies requiring the services of a stocktaker, a stocktaking franchise offers a promising opportunity for those with industry experience seeking a new direction that provides stability and growth. Stocktake UK’s franchise programme offers hospitality professionals a chance to apply their skills in a new context while making financial rewards. Average franchisee turnover is around £50K a year and top partners can make over £125K. Equally appealing is the chance to live a balanced lifestyle. Stocktake UK franchise owners no longer need to work evenings and weekends, and they also have the flexibility to organise their own weekly work schedule, giving them more time for themselves and their families.
The Pathway to Franchise Ownership
For experienced hospitality managers seeking alternative careers, franchise ownership represents an exciting opportunity to join a national network of professional stock auditors, run their own business and remain in the sector that they know. Stocktake UK’s inclusive approach requires no prior stocktaking experience, franchisees receive comprehensive training, covering everything from the use of stocktaking software to effective business management practices. They are also provided with all the necessary equipment, ongoing support and sales leads from the company’s head office.
With over 25 years of experience, Stocktake UK is a leading provider of professional stocktaking services to pubs, bars, restaurants, hotels and other hospitality businesses across the UK. Its corporate clients include regional pub companies and prestigious hotel and restaurant groups.
For more information, visit Stocktake UK.
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