Helping arena venues manage risks and maximise profits through stock control guidance, recruitment support, and pre-employment screening, tailored to their specific needs.

Managing Risks and Maximising Profits

Arenas present unique challenges to operators, with their diverse events, reliance on casual staff, and numerous outlets. Managing risks and optimising profitability in these dynamic environments requires strategic measures and a deep understanding of customer demographics.

Stock management for arenas

To minimise the risk of product loss and waste, arena operators must adopt effective stock management practices. Key strategies include:

• Just-in-Time Procurement: Implementing a “just-in-time” procurement policy ensures that products are supplied when needed, in the right quantity, and without excess inventory.

• Streamlined Product Portfolio: Maintaining a limited product portfolio helps minimise leftover stock after each event. The goal is to have the minimum amount of products remaining, reducing the risk of waste and financial loss.

• Supplier Contracts: Establishing “sale or return” contracts with suppliers can be advantageous, allowing operators to return unsold items and avoid unnecessary costs.

Understanding the Customer Base

Arenas must have a comprehensive understanding of their customer base to cater to their diverse preferences. The food and beverage offerings for a rock concert, for example, will differ significantly from those for a classical concert. It is crucial to maintain a varied stock that aligns with the demographic profile of each event.

Risk Management and Profit Enhancement Solutions

Capcon has extensive experience working with large arena venues, offering tailored solutions to address their specific needs. Our services include:

• Stock Control Guidance: We provide guidance and establish processes to monitor and manage stock levels effectively, reducing waste and optimising inventory.

• Recruitment Support: Capcon offers advice and support in developing recruitment processes and procedures for arena staff. We understand the challenges of seasonal hiring and help mitigate risks associated with cash and product theft.

• Pre-Employment Screening: Our comprehensive pre-employment screening and employee background checks help arenas minimise risk, ensure compliance, and enhance the efficiency of their recruitment process.

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