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Leading hospitality consultancy sets up new procurement business

A LIVERPOOL-BASED hospitality consultancy has created a new procurement business to help the hard-hit sector respond strongly after the Coronavirus pandemic subsides.

Lucky Penny Consultants have joined forces with procurement specialist, Phil McGuinness to provide a ‘one stop shop’ for the effective management and reduction of costs for all areas of the hospitality industry, from hotels to bars, restaurants to leisure outlets. Their new service can also be applied to any sectoral needs, including retail, FMCG and manufacturing. 

With a client base covering the UK, Europe and the UAE, the new enterprise, Lucky Penny Procurement, is offering bespoke solutions to ensure clients achieve optimal costs reduction, improvement in compliance and reduced risk associated to its supply chain. 

They will use a three-pronged approach to drive businesses forward: Firstly, offering a supply chain diagnostic report to ensure value for money, to check it’s ethical and sustainable, including benchmarking and risk analysis to galvanise a business’s procurement transformation.

Secondly, utilising their own e-procurement platform to manage markets more efficiently, reducing costs and accelerating the tender process. Thirdly, helping their clients to maintain lasting relationships which generate trust.

In practice, it means using the latest technology, Lucky Penny can assist all businesses from boutique bars to large hotel groups to obtain best prices and to negotiate with their suppliers for everything that their business needs.

Phil McGuinness, the new managing director, has more than 20 years’ experience of purchasing and consulting having held senior purchasing and director roles at ASDA, The Real Good Food Company and BrightSourced Consulting. He previously worked at Prestige Purchasing as board-level Chief Operating Officer. He has also worked in the Middle East delivering projects for Abu Dhabi National Hotels.

Lucky Penny Consultants is run by Steven Burgess and Josh Moore who recently opened Abditory in Liverpool’s quirky Queen Avenue which links Dale Street and Castle Street in the city centre.

Lucky Penny also launched the Love Lane Brewery in 2017, while Steven Burgess co-founded the hugely successful Camp & Furnace venue in Liverpool’s Baltic Quarter. Lucky Penny are currently bringing forward multiple schemes across the region, including the multi-million-pound Beacon Arts Village in Hoylake, Wirral.

Steven Burgess said: “This is an incredibly difficult time for the industry which is also affecting our own business. The full impact of the pandemic on the hospitality sector has yet to play out fully, but it has already been catastrophic for businesses and jobs.

“In response to this crisis, we decided to adapt and innovate and bring forward plans to expand our services, not only to ensure our long-term survival, but also to help others to plan properly and implement the correct strategies to make vital savings for when they can open their doors and trade again.

“In Phil McGuinness we have one of the best in the business, who brings a wealth of experience from his work and relationships with blue chip companies and brands from across the world. He has delivered significant growth for all those for whom he has worked and is an expert in procurement transformation, project management and supply chain optimisation and we are delighted to form this new company together.”

Phil McGuinness said: “Simply put, my job is to save bars and restaurants money by helping them to be cost conscious and to receive the best from their supply chains and mitigate risk.

“I’ve known of Lucky Penny for a long time. They are top operators and are exciting and innovative people who strive to deliver their best every time.  Combining our skills makes sense and our services can be applied to multiple sectors and is not exclusively for hospitality related businesses.

“Lucky Penny’s ambition to help the sector at this crucial time chimes with my own, because solutions are urgently needed to ensure optimal survival rates. I believe that the most effective way is to move from a culture of fire fighting to one of finding best value at all times, to identify inefficiencies quickly and achieve as much profitability as possible.”

“Our own work is risk free because it guarantees a minimum ROI for the clients we work with and also because Lucky Penny owns and operates venues it means we understand the opportunities and challenges faced and we can advise on tailor-made management solutions.”

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