To bring your business back to life
Finding the Recipe for Success
The COR Hospitality Advisory Group was established to provide consulting and restructuring services for restaurants, bars, hotels, banquet halls, and night clubs across Ontario. The hospitality industry is a very tough industry to be successful in. There is so much competition and having consistent success takes a lot of work, time, money, and most of all, personal effort from owners. It is not a perfect science and knowing what the right recipe for success is doesn’t come easy. Our goal is to help businesses succeed and find the right opportunity to start their successful operation or continue to grow into a successful operation.
Through this division, we provide businesses with operational consulting services, small business loans for financial stability anywhere from $100,000 upwards, along with restructuring services to keep the doors from being closed permanently. Headed by Eric Satov as Senior Consultant, a veteran of 20 plus years in the hospitality industry, our services consist of full 360 degree coverage of every business.
2020 has been a very difficult year for the hospitality industry. As a result of the COVID-19 pandemic, thousands of restaurants have been forced to lay off employees, or worse, close their doors permanently. This has been devastating to individuals and our economy. At COR, we understand that small businesses are the backbone of our economy.
We want to help. You don't have to shut your doors for good. All you need is a little bit of guidance and your future is looking bright. When you work with us, you will see that we take all aspects of your business into account. We believe that the sum of all parts is greater than the whole and we will focus on even the most minor details to ensure that you are set up for success.
It's time to cheers to a fruitful future!
A Comprehensive Analysis of Your Business
Product (food and Beverage)
Every penny counts when it comes to running a successful business. There’s always a way to make your product better and save some money at the same time.
Cost control with regards to recipe creation, reform, execution, and efficiency
Full menu review and analysis
Having the best people on your team is the easiest way to maintain and grow your business. Having a system in place to recruit, hire, train, and evaluate can help attract and keep the best people. Decreasing employee turnover is essential to longevity.
Providing consistency through creating/reforming recruitment, hiring, training, and evaluating systems
Management team development
Revenue and Growth Sales
There are many ways to achieve growth in sales, one of the most effective is ensuring that everyone in the neighborhood knows who you are. I would make snack drops at local business’s weekly (not everyone every week) and maintained a good relationship with everyone that I met. It is very important to get involved with community events and have a presence outside of the establishments four walls and the digital world.
Ensuring that all effective revenue streams are fully utilized (online ordering (internal), delivery platforms, etc.)
Reviewing and analyzing marketing strategies and advertising budgets. Finding ways to improve effectiveness
Exploring different options to connect with guests to build business (utilizing all social media platforms, customer appreciation programs, utilizing suppliers to build partnerships and connect with guests)
Consistency is the key for operational success, having operational policies and procedures in place provides the staff with the tools they need to perform at the highest level.
Review and analyze /reform labour structure
Review and analyze/reform inventory controls
Review and analyze/reform/implement sales mix analysis system (Stars and Dogs method)
Review/analyze/reform/implement standard operating procedures
Health and Safety
Having Health and Safety policies and procedures in place will help to protect your guests and your staff. It also helps to ensure you always pass your health inspections with nothing but green and your business is never jeopardized.
Review/analyze/reform/create/implement policies and procedures to be compliant with municipal health and safety standards
Staying organized and up to date is how you avoid issues with payroll and employee files. If you don’t have an employee handbook, it’s time to create one.
Review/analyze/reform/create/implement Human Resource policies, procedures, and systems to ensure smooth administrative processing (payroll processing, up-to-date employee files, etc.)
In 2020, things are always changing at a very fast pace, learning about what tools are available to you will help you choose what will have the biggest positive impact on your business.
Explore all technological options to see what fits best
When it comes to opening a new business, there are a lot of moving parts. We are there to hold your hand from beginning to end and beyond. If you are opening a new restaurant, we will be with you every step of the way. From layout design on new builds or renovations on existing space through to hard opens and beyond