Profit First Hospitality
We are the only Hospitality specific Accountancy firm specialising in Profit First for Hospitality in the UK
What Impact will Profit First have on my business?
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Guaranteed profit: Ensuring your business remains financially healthy (so long as you do not deviate from our plan).
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Reduced stress: No more cash flow chaos—your VAT, tax, and expenses are covered.
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Simplified cash management: Manage your finances without guesswork.
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Instant clarity: Know exactly where your money is, any time you log in to your bank account.
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Scalable growth: Build a sustainable, profitable business that rewards you and your team.
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Stronger decision-making: Spend with confidence, knowing what you can afford.
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Quick Deployment: The Profit First system can be implemented in as little as 5 days.
What is Profit First?
Profit First is a straightforward yet revolutionary cash management system that flips the traditional approach to business finances on its head. It’s designed to help businesses of all shapes and sizes - even businesses in debt - put profit at the forefront.
Originally created by Mike Michalowicz, Profit First has been successfully adopted by over 600,000 businesses worldwide. The system forces profitability by ensuring you allocate a set percentage of revenue into a profit account before anything else - before paying yourself, taxes, and, most critically, operating expenses.
What is a Certified Profit First Professional?
According to the CCAB's January 2024 report (Consultative Committee of Accountancy Bodies), in 2022, there were an estimated 357,000 UK members of the 5 main UK Accountancy bodies.
NimbleFins (2024) estimates that there are more than 40,000 registered Accountancy practices in the UK. That's a whole heap of us that can do the same standard compliance, to get the same standard result. And this is absolutely fine if you're a small sole trader who only needs a self-assessment completing. But if you're a scaling business, then you need more.
There are only around 30 Certified Profit First Professionals in the UK - and we're the only ones specific to hospo! We've had to go through a rigorous coaching programme, pass an exam, evidence that we've implemented Profit First in our own business, and then evidence that we've helped at least 3 of our clients to implement it in theirs.
Do I need to be a client of yours to work with you on Profit First?
Although we'd love to have you as an Accountancy & Bookkeeping client, you don't need to be one to work with us on Profit First.
We're a specialised accountancy practice that performs the full finance and advisory function for a lot of hospitality businesses, and as such, we're a touch more expensive than a traditional accountant, so our fees can often be a barrier to entry for smaller businesses who can't afford the additional support that we provide.
With Profit First, you can benefit from a lot of the advice that we give to our Management Account and Consultancy clients, without us needing to carry out the standard compliance work.