Growing your business and getting the best from your assets.

A commercial audit results in improved revenue streams while reducing costs. It explores the potential of the current staff from an outside, objective point of view, with the goal of increasing in-company mobility and opportunities.

The
Audit

Our commercial audit approach looks at the areas that typically do not receive as much attention or focus as small and medium sized businesses can rarely have specialist people whose roles are to exclusively investigate potential new revenue earning or cost saving opportunities.

Our commercial audit process works alongside the existing management, Marketing, and F&B teams in the client’s venue, and is designed to give a fresh perspective to maximising all revenue, while taking advantage of cost saving opportunities.

 

Finance

We will perform a full review of the accounting and reporting systems currently in place, and provide recommendations for streamlining these operations if required.  This will also include an assessment of the computer systems in place.

Staffing

Skills Analysis: A detailed skills analysis that includes one-on-one meetings with staff to establish aspirations with a view to unlocking hidden potential.

Training: Recommendations for targeted training courses will be included in the Skills Analysis report.

Space
Utilisation

Does your building have additional space in the facility, and could it be used to the maximum potential?

We assess the possibilities of

  • Temporary exhibitions
  • Sponsorship
  • Corporate and private hire
  • Community usage

Venue
Branding

Theatre and entertainment venues strive to be the go-to choice for entertainment in their local community.  We assess how effective the venue’s brand is currently, and what could be done to improve it.

Venues usually have skilled marketing staff to handle all the marketing for the shows, but does this team have the time or resources to look at branding for the venue itself in a wider role?

Catering
Food and Beverage

Many businesses have catering services in some form.

We assess

  • Existing Costs
  • Existing Suppliers
  • Range of products on offer
  • Selling prices
  • EPOS – till systems
  • Stock control
  • Sponsorship Opportunities
  • Credit terms

Key
Suppliers

Key suppliers will be assessed to ensure best value is still being maintained.  Our evaluation will include:

  • Energy Suppliers
  • Print suppliers
  • Stationery
  • Insurance
  • General commodities

How the audit
works for you

The key is that the commercial audit aims to increase revenue and/or reduce costs in ways that are acceptable to the management.

At the initial meeting we will agree a remit of the areas that you want to cover, as well as any additional items you wish to be assessed.  A detailed questionnaire will be sent 10 days in advance of the first visit. This needs to be returned within 5 days, providing us sufficient time to look at the specifics for your venue.

Once the goals of the Audit are agreed, we will also discuss ways in which we can assist the management with bringing all staff and/or board members on board with the project.

The Process

Step 1: This visit will be to review the answers on the questionnaire and to get a more detailed background of the areas of potential concern and where improvements can be made. We will need to meet with key players, including management and front-line staff, to get a full understanding of the business.

Step 2: Skills Analysis Interviews take place and each will last approximately 15 minutes.

Step 3: Follow up with any remaining questions from both sides.

Step 4: The Draft Commercial Audit report will be produced and sent back to the management within 7 days.

Step 5: Meet with management to discuss the Draft Commercial Audit and any further action points that may be required.  Incorporate any changes as required from the client.

Step 6: The completed Commercial Audit returned to client within 5 days of the management meeting.

Costs

Fees are dependent on the scope of the commercial audit required, and will be discussed on an individual basis.

 

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