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, providing overnight accommodation. Whilst successful, the owners wished to undertake an external review to ensure it was optimised for the future, while considering additional opportunities to further expand plus potential risks and options to mitigate.
SOLUTION
A business health check was undertaken, including:
- Review of all information and documents shared by Kinkell Byre
- Visit to Kinkell Byre for detailed property inspection and discussion with key staff
- Market and competitor analysis, alongside product and pricing review and benchmarking exercise
- Marketing and sales strategy review and recommendations (including 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 and 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 ongoing for Savills Tourism, Leisure & Events Consultancy to provide an ongoing support role, attending the annual directors meeting and reviewing performance.