BENCHMARKING YOUR BUSINESS

The first step in the benchmarking process is to take a confidential 'Health Check' of your business. This allows you to measure your operating performance against other similar businesses, locally or across the country. In this way, you can check how well you are doing in key areas, such as profitability, labour productivity, marketing spend and return on investment.

You will get a benchmarking report will shows you how your business is performing against the competition and best practice. With the help of an accredited business coach, you can then agree and implement an improvement plan for your business, tailored specifically to your needs, which will build on the strengths and address the weaknesses highlighted by the benchmarking. This whole process is entirely confidential.

The Key Performance Indicators used in the benchmarking are vital measures of your business success. Firstly, they include a set of indicators, such as profitability and labour productivity, which are important to businesses across the tourism industry. Secondly, there are specific indicators for businesses in different sectors, such as average achieved room rate in hotels, food and beverage gross profit in pubs and restaurants, pitch occupancy in holiday parks and average spend per visitor in attractions. Specific indicators like these are available for all the main sectors in the industry click below to see them.


It helps you focus on what you need to do to improve profitability and productivity It is quick and straightforward - you can do it on paper or online - and no need to leave the business An accredited business coach, from the sector, will give you the help you needHaving done the benchmarking once, you may well want to build it in into a regular review of your business performance. Many businesses now use the Business Health Check on annual basis.

What People Say

I wanted to compare our business against others to see how well we measured up and I also wanted to know what the norms are for a hotel of our size so we could adapt and improve areas of the business and ultimately increase our bottom line. I' ve saved 20 per cent of my time by implementing the business action plan, which has given me more time to focus on forward planning – fantastic!

Sally-Anne Fosdyke, Manager, Cumberland Hotel, Harrow, Middlesex

Joined the Profit Through Productivity programme because it seemed good value and very pertinent to our needs. The SWOT analysis was particularly relevant and made us look at how we operated. Our management structure had grown a bit like Topsy and we were able to examine it and, just as important, see how we managed our resources. You can waste an awful lot of time at meetings that aren' t structured and I' ve found I' ve freed up 20 per cent of my time – very valuable. We' ve formalised the training programme, introduced better induction and brought in a staff handbook that records the training that people have undertaken, so we have a training file on everyone. As a result, members of staff are now better motivated and everybody knows that they need to think through tasks and are aware of the costs and margins of their department.

Andrew Richardson, chief executive, Methodist International Centre, London

I saw the Profit Through Productivity programme as a low cost way of improving what we are already doing. The workshops gave me something positive to take back and implement in my business. The budgeting exercise in the Business Planning workshop was very useful. I also found the workforce development workshop very beneficial and I' ve adapted some of the handouts to the business, including a model staff handbook, staff induction programme and a staff training programme for each department. As a result, my workload has gone down immensely. Profit Through Productivity has helped me so much".

Serena Von der Heyde, Proprietor, the Georgian House Hotel, London

"I went on the Profit Through Productivity programme because I thought I could learn from it, and I certainly did! What was covered was very adaptable and took into account the financial constraints of a small business".

Diane Eade, Administrator, Newquay Zoo

"I wanted to participate in the programme because it was an opportunity to meet with similar businesses in the area. I also wanted to learn more about the business so that I could run it more efficiently. I' ve saved about 10 per cent of my time by delegating, which I use to plan for the future. Turnover has risen. We' re more profitable, more efficient, more motivated. What more can you want?"Tina Collins, Proprietor, Grove Seafood Restaurant, Bournemouth

Ring David Wood +44 (0)700 520 3311

David.Wood@theHospitality.biz