Debt Collection for the Hospitality Industry
Debt Collection for the Hospitality Industry
The hospitality industry is one of the UK’s biggest sectors. It has also been one of the hardest hit by the covid-19 pandemic. For instance, there were 223,045 hospitality businesses in the UK at the beginning of 2020.
Hotels, restaurants and other businesses have since been able to resume trading, but continue to be affected by upcoming government guidelines. As well as the challenges brought on by Covid-19, businesses in the hospitality sector also have more regular issues of non-paying customers.
Both large and small hospitality businesses are affected by this issue, and as a result, there is a need for an effective debt recovery solution.
Any business needs a stable cash flow in order to grow. Non-paying customers can make this difficult. Most business owners deal with like-minded individuals, with hotel guests and restaurant patrons paying for their requirements. However, every hospitality business owner knows the frustrations brought on by difficult customers that seem to refuse payment no matter what.
Are you the owner of a small hospitality business that has faced an issue with a non-paying customer? If so, you can take action in order to recover the money that is rightfully yours.
Frontline Collections has enforced debt for many small businesses, self-employed individuals and sole traders since 2005. We asked our experts to explain how Frontline Collections can help with debt collection for the hospitality sector.
Debt Collection for the Hospitality Industry – When to Act
Every owner of a hospitality business knows that there are countless reasons why a customer might not pay. For example, it is not uncommon for restaurant guests to order and eat expensive meals, only later to deliberately and spuriously complain. This is often used as a reason not to pay.
Hotel guests that have no intention of paying may do a similar tactic, often posting harmful reviews or feigning discomfort in order to get out of paying.
This is a frustrating experience for those that have provided a good service with the best intentions. Often, hospitality business owners are left in a challenging position, having to contend with spurious negative online reviews whilst trying to take action against those that have not paid.
It is important to act as quickly as possible to recover a debt. This will minimise any potential loss that the business will face. It will also ensure that the most effective debt recovery methods can be utilised.
The Best Solution for Debt Collection for the Hospitality Industry
A professional debt collection agency is often the most professional and cost effective service available for enforcing debts. In this field, specialists exist that know the specifics of particular industry sectors.
This knowledge is used to enforce a debt in the most effective way possible.
Frontline Collections is one such agency, and since 2005 we have helped small businesses and private individuals in every sector.
Our collections agents can provide a complimentary pre-action assessment of your debt. This will give you the information needed to make a decision.
Speak with one of our friendly experts now and take the first step in recovering your debts.
Debt Collection for the Hospitality Industry – Frequently Asked Questions
How do you collect debt from customers?
The best way to recover a debt from non-paying customers is to instruct a professional debt collection agency such as Frontline Collections. For a low cost, they will enforce the debt in the most professional manner possible. This will preserve the business relationship whilst recovering the money that is owed.
Why is debt collection important in an organization?
Businesses need a stable cash flow in order to grow. If cash flow is interrupted, then the company may not be able to fulfil its financial obligations, such as bills and wages. Debt collection is important as it ensures that all money a business is owed is paid.
What is the cost of debt collection?
Every case is different, and there is no “one size fits all” price. The best way to get a cost for debt enforcement is to speak to a recovery expert.
I run a small hospitality business, can I get a debt collected?
Yes, Frontline Collections specialise in recovering debt for small businesses, sole traders and freelancers. Speak to our experts now for a free professional appraisal of your debt.
What proof of debt do I need to start debt collection?
The best answer to this is to speak with a collections expert as soon as possible. Every case is different, and it is always better to seek advice from a professional before committing to any course of action.