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Assessing Coronavirus Insurance Coverage Risks for Restaurants

Modern Restaurant Management

For that reason, restaurant and business owners typically carry business income coverage, also referred to as business interruption coverage, which is insurance coverage intended to replace lost income in the event business is halted or interrupted for some reason, such as a natural disaster.

Insurance 305
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Restaurant Accounting: A Comprehensive Guide

7 Shifts

Below are some key restaurant metrics you should be tracking for your restaurant: Cost of goods sold (COGS) The cost of goods sold refers to the amount it costs to produce an item on your menu. Table turnover rate The table turnover rate refers to the number of times you have served new customers at the same table.

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Tips to Overcome Your Restaurant’s Cash Flow Crisis

Modern Restaurant Management

You can also refer to this guide to learn more about managing cash flow. You can safeguard your business by maintaining a contingency fund and by paying for insurance. Online advertisements, social media, and promotions in local media will help you to fill tables during quieter months.

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Future of Food Delivery

Goliath Consulting

It also means you’d have to hire, train and pay new staff for this job including paying for insurance and vehicle expenses. Pros: Doubles as advertisement that increases exposure of your restaurant. Reference: [link]. So, in summary: Third Party Delivery. Provided drivers/ No training required. Cons: High Fees.

Delivery 269
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How to Read a Restaurant P&L (Profit and Loss) Statement + Free Template

SpotOn

Health insurance, retirement plans (401(k)), paid time off (PTO) (vacation, sick leave, holiday pay), workers compensation, and meal discounts Training and onboarding. This can also be referred to as operating costs. Digital advertising, marketing software , printed menus, signage, promotions, and loyalty programs.

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MRM Research Roundup: Experimentation, Valentine’s Vibe Shift, and Wine Cork Market

Modern Restaurant Management

Strong consumer interest in prepared foods, commissary and beverage options has led convenience stores, often referred to as c-stores, to compete much more aggressively with quick service restaurants and fast-food chains. An analysis of insurance claims processed in 2024 compared to 2023 shows a 4.4 percent decrease in claims.

Marketing 221
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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

While it might seem tempting to overspend on your marketing and advertising efforts, the cash you'd use to pay to run your ads could only lead to waste, especially if you don't know much about running an ad campaign effectively. For instance, you might be running your ads on Facebook incorrectly by targeting the wrong audience.