By Clyde Mooney

HLB Mann Judd has announced the launch of a benchmarking system that allows comparison between similar hospitality venues from across the country.

The Queensland branch of the national accountants released news of the comprehensive business tool whilst acknowledging the success of one of its students, who topped a field of over 3000 graduates from around the country.

The benchmarking system was based on the financials of 30-40 venues, and can be scaled and customised to suit any particular client.

The system compares the subject to the best, worst and average results for similar examples, pinpointing issues and highlighting areas of interest.

A recent client worried about profitability was able to identify problems in their food offering by analysis that included choice of staff, menu suitability and portion control.

HLB health checks are mostly for HLB clients, with the possibility of a cut-down version becoming available online for new or prospective clients.

Plans for the service include a ‘fantasy pub’ scenario with comparative figures on turnover from the bar, dining, gaming and bottle shop, as well as gross profit (GP) percentages and general running costs etc.

HLB is one of the main pub accountants in Brisbane, and this initiative came about due to their extensive work in due diligence for licensed venues.

HLB’s main hospitality presence is in Melbourne and the sunshine state, with offices expanding in Sydney, Adelaide and Perth.

Venue information gathered is added to the model if considered in line with norms, with all identifying markers removed in the interest of client privacy.

Clients and business partners in the system, Ray White, act as a referral source, and contribute to the database of businesses populating the back-end.


The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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