Hospitality is a dynamic, growing sector offering great scope for people who enjoy people, and the flexibility and challenges of a ‘lifestyle’ business.
Sole traders, family businesses, partnerships, corporations and consortiums – the hospitality industry is open to investors and owner-operators alike with entry to proprietorship at any level.
There are opportunities for diversification and growth with sound business planning and management, regulatory compliance, financial accounting and continuous operational and marketing improvement.
Renowned for its fine dining and casual eateries, eclectic cafés, distinctive hotels and bars, abundance of quality accommodation, vibrant city life and regional attractions, Melbourne city is arguably the hospitality capital of Australia.
If you already own a business in the Victorian hospitality industry, or if you’re thinking about buying or starting a hospitality-based business, these statistics are encouraging:
- There are approximately 4,222 hospitality businesses in Victoria, being 27.4% of all hospitality businesses in Australia
- Victoria accounts for almost 25% of the $13.6 billion of income generated Australia-wide by the hospitality industry annually
- The Victorian hospitality industry employs about 52,000 skilled people as baristas, waiting staff, chefs, cooks and supervisors
- Over half (57.8%) of all catering businesses in Australia employ fewer than 10 people
Of the 15,423 cafés, restaurants and caterers surveyed nationally for statistical purposes, their main sources of income were takings from:
Hospitality accountants Melbourne
We provide expert accounting and advice to owners of hospitality businesses such as:
- Cafés, restaurants, function centres, catering businesses
- Food franchises, kiosks, fast food stores
- Hotels, bars, bottle shops, nightclubs, entertainment venues
- Motels, B&Bs, hostels, serviced accommodation
Hospitality industry awards
Current FairWork Australia Modern Awards for employment of staff in the hospitality industry: