Sample interview questions: How do you handle the financial aspects of club lounge or executive lounge operations, including pricing and cost control?
Sample answer:
Pricing:
- Market research: Conduct thorough research to determine competitive pricing and adjust prices based on market demand.
- Value-based pricing: Set prices that align with the perceived value of the lounge experience, including amenities, food and beverage offerings, and personalized service.
- Tiered pricing: Offer different pricing options for different levels of access (e.g., limited-time access, full-day access, exclusive perks).
- Dynamic pricing: Implement surge pricing during peak demand periods or offer discounts during off-peak hours.
Cost Control:
- Menu optimization: Create efficient menus that minimize waste, reduce costs, and maximize profitability.
- Inventory management: Monitor and optimize inventory levels to prevent spoilage and over-stocking.
- Negotiation with suppliers: Negotiate favorable terms with suppliers for food, beverage, and other supplies.
- Labor cost management: Schedule staff efficiently and optimize hour… Read full answer
Source: https://hireabo.com/job/11_0_4/Food%20and%20Beverage%20Manager