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Society Insurance has spent 110 years helping protect businesses and has seen firsthand how nuclear verdicts have evolved in the U.S. ” Nuclear verdicts can occur from a dispute in a restaurant parking lot to a food safety issue as well as exist outside the restaurant industry. Recent data shows that U.S.
This year’s 102nd year of honoring Fire Prevention Week is held from October 6-12 with the theme: Fire Prevention Week 2024 – Smoke Alarms: Make Them Work For You! Restaurant owners can mitigate these risks by hiring qualified professionals for installation, maintenance, and cleaning service.
restaurant industry will continue to shake off the aftereffects of the pandemic in 2024, but that doesn’t mean the challenges that remain are easily dispelled. Another growing risk: nuclear verdicts over dram shop law violations, driving up the costs of liquor liability insurance. Here’s an overview.
This final edition of Modern Restaurant Management (MRM) magazine's Research Roundup for 2024 features news of operator challenges and priorities, delivery trends, wages and hourly worker considerations. The poll collected insights from 175 restaurant operators and financial professionals to uncover their expectations for 2025.
For more than 100 years, Society Insurance has been providing coverage to hospitality businesses. We see firsthand what restaurants should be paying attention to as new trends and legislation arise. repealed the city’s first-in-the-nation ban on gas hookups in summer 2024, the result of a $300,000 campaign.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news on the impact of California's minimum wage, customer satisfaction, AI use in restaurants, popular cocktails and bathroom readiness. The law changed on April 1. In April and May, California visits were around 2.5
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
over the past decade, keeping employees in restaurants has become increasingly difficult. However, attracting high-quality restaurant employees goes beyond just filling open positions. Some restaurant staff may prefer fewer hours to accommodate school or family, while others might be looking for full-time work with a steady income.
Running a restaurant is tough. The good news is that there are tax deductions and credits made for restaurants and owners that can ease the burden. Essential Restaurant Tax Deductions 1. A restaurant POS system like SkyTab, though, has no upfront cost, just $29 per month. Staff pay: salaries, insurance, bonuses.
I was in a restaurant for my moms birthday when the World Health Organization declared the spread of coronavirus a pandemic, and, in between sewing my own cloth masks and attending cursed Zoom happy hours, my colleagues and I reported relentlessly on the crisis unfolding in the restaurant world. percent from 2020 to 2024.
As many as 90% of women and 70% of men working in restaurants reportedly experience some form of sexual harassment, according to the Harvard Business Review. Has a recent state law change made sexual harassment training mandatory, but you don’t know where to begin? What if an incident occurs outside of the restaurant/bar/brewery?
Selling a restaurant can be a major decision for many reasons. One of the main reasons is to cut losses due to financial challenges, with 52% of restaurant owners saying high operating and food costs are really cutting into their profits. If restaurants in your area sell at a multiple of 2.5
Society Insurance has spent 110 years helping protect businesses and has seen firsthand how nuclear verdicts have evolved in the U.S. Nuclear verdicts can occur as the result of a dispute in a restaurant parking lot, because of food safety issues, or even for reasons that exist outside the restaurant industry.
This finding from Expert Market’s 2024 F&B Industry Report sheds light on a clear culinary gap within the industry's workforce. A 2023 study by Toast found that 30 percent of staff in the restaurant industry are at risk of leaving in the next two years, highlighting an equally concerning high turnover rate within this sector.
However, data breaches can happen to restaurant chains and small eateries alike. Restaurants can reduce the risk of cyber attacks by taking these proactive measures: Make sure your restaurant is Payment Card Industry (PCI) certified. Notify your insurance agent or carrier. The best offense is truly a good defense.
Running a bar is a lucrative business, proven by the fact that this industry is estimated to be valued at a whopping $36 billion in 2024. However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. These regulations vary from city to city.
hour, restaurant operators are starting to think about how they will adjust their businesses to a $15 restaurant minimum wage. and provinces in Canada) have already increased their restaurant minimum wage and tipped minimum wage in the past few years. Will the Rising Restaurant Minimum Wage Affect Me? In the U.S.,
This year brought an unprecedented spike in strike activity across multiple industries, but from Starbucks to Chipotle to McDonald’s , nowhere was this surge of worker power on display more prominently than in the restaurant industry. Gavin Newsom signed the bill into law.
Photo-illustration by Lille Allen As climate change drives temperatures up, restaurant staff face uncomfortable, even unsafe, conditions without heat regulations to keep them from harm. Now, some workers are taking matters into their own hands. This story was produced in collaboration with Civil Eats.
If you run a restaurant in Colorado without clearly understanding the labor laws governing how you do business, you could be setting yourself up for trouble. Colorado restaurants must meet other legal requirements that govern food safety, alcohol service, compensation, overtime, breaks, and child labor.
Nair, a partner at Ervin Cohen & Jessup LLP compiles recent legal news affecting the restaurant, food and beverage and hospitality industries for Modern Restaurant Management (MRM) magazine. Under California law, app-based gig workers would have been considered employees. Election Results. Legislation.
Things that go bump in the night for restaurant owners look a lot different than for the average Joe and Jane. Ahead of Halloween and spooky season, Society Insurance explores some of the scary factors, some more rare and some more common, that can affect premium rates. Insurers spread the risk through reinsurance.
Getty Images Bird flu outbreaks have caused egg prices to rise, forcing some restaurants either adapt recipes or raise menu prices Toward the end of 2024, James Wong of the San Francisco bakery Breadbelly was already mentally preparing for his egg prices to go up: They also spiked at the end of 2022 and 2023 , due to nationwide bird flu outbreaks.
Nair, a partner at Ervin Cohen & Jessup LLP compiles recent legal news affecting the restaurant, food and beverage and hospitality industries for Modern Restaurant Management (MRM) magazine. The Restaurant Rescue Plan establishes a $25 billion grant program for restaurants hurt by the pandemic and was based on the RESTAURANTS Act.
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