CLIENT
Private Client
CLIENT INDUSTRY
Weddings, Events and Accommodation
SERVICES PROVIDED
Business Health Check
LOCATION
St Andrews, Scotland
DIVISION INVOLVED
Tourism, Leisure & Events Consultancy
DATE
2023 – Ongoing
CHALLENGE
Kinkell Byre is a successful wedding and events venue, situated on the coast of Fife. The business has expanded several times, most recently introducing ten cabins to provide oversnight guest accommodation. Whilst successful, the owners wished to undertake an external review to ensure it was optimised for the future, whislt considering additional opportunities to further expand plus potential risks and options to mitigate.
SOLUTION
A business health check was undertaken which included:
- Review of all information/documents shared by Kinkell Byre;
- Visit to Kinkell Byre for detailed property inspection and discussion with key staff;
- Market and competitor analysis;
- Product review and benchmarking exercise;
- Pricing review, with recommendations;
- Marketing/sales strategy review and recommendations (to include mystery shop);
- Review of current staffing structure and consideration of future requirements based on growth projection;
- Consideration of potential risks and appropriate mitigations;
- Consideration of opportunities for further development / enhanced profitability;
- Target sales projections and net profit analysis
RESULTS
The health check proved hugely useful to the clients, with the majority of recommendations already implemented. Discussions are ogoing for Savills TLE Consultancy to provide an ongoing support role, attending the annual directors meeting and reviewing performance.