Posts Tagged ‘Profit Margin’
The Bowden Group has launched an iPhone VAT application for the hospitability industry. The application has been launched to help hotel, pub and restaurant owners to cope with VAT changes which will come into effect from January 2011.
The application known as The Bowden VAT Rise Calculator comes after the success of the online version that was introduced in the company’s blog pages (http://www.hunterbowden.co.uk/blog/) by Hospitality Business Mentor, David Hunter in October this year
Speaking at the launch, David Hunter said: “The iPhone application and the ones that are planned to follow, will provide digital and convenient solutions to the daily business of hotels, pubs and restaurants. It is a revolutionary step that will enable hotel and pub owners to manage their finances better using their mobile phones.”
The idea of the Bowden VAT Calculator was originally suggested by David Hunter after he observed that pub, restaurant and hotel proprietors were increasingly failing to come up with the right strategies to maintain their profit margin with the increase in VAT prices.
David Hunter feels that it may be challenging for some to cope with the figures and percentages involved in tax, especially the increase in the VAT prices, but smart planning can help maintain consistent profits.
David adds: “The iPhone application is designed to provide strategic solutions about what needs to be done to the selling price to maintain current margins. It will also add another trendy digital element to the UK’s hospitality industry. Work is also already underway on a professional version, including additional enhancements to improve profitability, which will include a Menu and Bar individual item costing and pricing tool as well as the ability to save the relevant information.”
David Hunter has 25 years experience in the hospitality industry. David has rescued hundreds of failing businesses, many of which the owners themselves had given up on. The new iPhone application is his latest contribution to the industry and probably an apt one in the current economic climate.