WHEN OPENING ANYTHING FOR THE FIRST TIME, EVERYONE IS A DUMMIE!
If you learn from your mistakes, I have learned a ton. In fact I have made mistakes in places where most people don't have places! The result is that people now call me to assist them in their openings.
Opening a hotel or restaurant anywhere in the world is an uncompromising challenge with risks for all at every turn and most with enormous cost implications. Consider first the areas that are implicated and for which no one person or corporation is fully responsible,
- Equity & Debt Financing
- Architecture, Landscaping & Design
- Graphic design
- Engineering & Special Consultants
- Construction & Finishing
- Recruitment & Training
- Sales, Marketing & Public Relations
- Management company & Brand Relations
- Utilities
- Inspections & Approvals
- Furniture, Fixtures & Equipment
- Purchasing & Storage
- Operating supplies & Consumables
- Budgets & Cashflow
- Finance & Accounting
- Safety & Security
- Community Relations
Unfortunately, all of these Key Areas drive a multitude of individual decisions that are varied and very different from one project to the next. Each requiring an unending degree of patience, attention to detail and extraordinary forethought. Delays in some decisions drive cost increases and in some cases, revenue losses.
There is no 'rule of thumb' on when the panic button is pushed and I am called in. It has happened as late as 28 days before opening with a demand for a new General Manager and as early as 12 months out when it would seem that there is plenty of time for the major decisions and little room for error.
In all cases, the savings that we contributed exceeded between several hundred thousand dollars and several million dollars.
For more information or assistance in your opening, contact [email protected] For more information on what we do, go to Axis Hospitality
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