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Let us pass on the knowledge and expertise that we have gained in our 100+ years in the insurance business, so you can take a few things off your plate – and gain peace of mind. This article is not a template. Society Insurance bears no responsibility for the accuracy or content of linked or cited material.
Equipment and Furniture: Deduct That Big Spend New ovens or tables can cost a chunk, often $5,000 or more. Accounting Tip: Log equipment purchases in your accounting software under equipment. Staff pay: salaries, insurance, bonuses. Equipment: tables, chairs, POS systems. Insurance: property, liability.
Ahead of the holiday, Society Insurance, which provides coverage to the hospitality industry, has put together a list of best safety practices for restaurants with deep fryers: 1. Regular maintenance and cleaning is an important safety factor for any kitchen equipment and a commercial fryer is no exception to this rule.
The problem this article addresses is the trickle-down of the “great resignation.” There are a few reasons: New employees often lack training; ill-equipped and inexperienced workers sustain more injuries trying to use machinery or tools with which they are not familiar.
There’s currently lots of technology and equipment in the catering industry that makes our jobs that little bit easier, with kitchen lifts and tablets to take orders, however it’s still a high-pressure working environment. Happy employees are hardworking employees!
This article discusses some of the warning signs to look for, and what to do if you discover a potential issue. If you end up hiring someone to perform repairs, make sure they are licensed in your state and have adequate insurance to cover your project. Review your commercial property insurance policy.
In this article, we look at the pros and cons of both renting and buying to help you decide which approach will be best for your unique venture. You will also be able to implement changes and install new equipment much faster than would be possible if you needed to wait for a landlord’s permission. Lower Risk.
As members of Sentry Insurance’s safety team, we’ve compiled several tips and resources with those risks in mind to help your restaurant experience a safer return. The return of a more regular dining experience signals an encouraging step forward for owners and employees alike, however, caution is necessary.
In this article, we'll look at why cybersecurity is important in the restaurant business, and how you can protect yourself from cyber attack. Leading restaurants are teaming up with tech brands in order to offer their customers a better service, but many remain unaware of retail’s unique security challenges.
It also requires money to open a restaurant and build it out, buy equipment and finance the operation until it reaches break-even. In this article, you'll learn how to get a business loan for your restaurant so you can make your dream of starting or growing your restaurant a reality. Find other business plan resources from GrowThink.
If you are planning to offer delivery in house, here are a few things to investigate: Car Insurance : If you’re sending out an employee to do deliveries in their own vehicle, do you and the driver have the appropriate insurance? Talk to your insurance company and find out what you will need. Remember, this is a pandemic.
" Fitsmallbusiness.com launched a series of articles detailing what the restaurant industry can do to stay ahead of the curve as the U.S. The article titles and links can be found below: Delivery Software Options in the Wake of COVID 19. These restaurants and businesses need a specialized insurance policy.
Contact your insurance company. This article is not a template. The links provided are a convenience and for informational purposes only; they do not constitute legal advice or an endorsement or approval by Society Insurance of any of the statements, or opinions, or content of the organization.
Having written over 300 articles for national trade magazines, I am often asked about industry-related topics. This includes regular cleaning and sanitizing of equipment, surfaces, and utensils. Consumers, vendors, insurance companies, etc., judge the operation based on their social media accounts and daily habits.
To write the article, I sat down with restaurant owners to discuss their challenges. Like all of us, the Girls had to do their best to be as safe as possible, but like most companies with whom I work, they did not know whether there would be insurance coverage for an employee getting COVID; the answer to which is complicated and long.
In our previous blog article, we briefly touched on the various advantages of third party delivery services, like how outsourcing delivery to a third-party service has an advantage of allowing smaller, local restaurants to get started quickly (2). So where is food delivery headed post-COVID-19?
Equipment : What equipment will you need? Sourcing the Right Equipment Your budget, target market, and concept will dictate your equipment needs. The size of the space is important, as you'll need enough room for customers and all of your bar's equipment. We'll cover all of this later in this article.
Examples include rent, salaries, insurance, and equipment leases. Note: The costs presented in this article are estimates only and can vary based on specific circumstances like location, restaurant size, and equipment needs. Selling Price per Unit : This is the average price at which you sell your dishes.
In this article, we'll go into 15 key performance indicators for restaurants, why they're important, how to calculate them, and more. To get your restaurant's break-even point, you'll need the following: Total fixed costs, like rent, salaries, and insurance. If it's not measured, it won't be managed. Total sales , from your POS.
Time has never been better to open your food truck, and the most critical business step is investing in insurance. However, if you don’t have the correct insurance, your food truck might cost you thousands of dollars or perhaps your business in jeopardy in time of a mishap. . Food Truck Insurance Cost . Kind of Insurance.
In recent months, they have been advising clients on issues ranging from Paycheck Protection Program (PPP) loans to reducing and rehiring employees to recovering losses from insurance companies and renegotiating leases. Selvin (insurance and business interruption) and Elliot N. Other members of the new practice include: Randy S.
You may also like our article on coffee pricing: why we need to know farmgate and not just FOB. The price includes what the farmer was paid, plus in-country coffee production expenses such as milling, warehousing, transportation costs, insurance, customs, and other intermediary fees. Want to read more articles like this?
Things like health insurance, life insurance, a 401k, and other fringe benefits can help motivate your employees to stay with your business longer. For more help perfecting your leadership skills, take a few minutes to read these informative articles: 11 Habits Of Highly Effective Leaders. 5) Promote Teamwork.
The type of energy used largely depends on the roaster’s equipment – including drum and fluid bed roasters. You may also like our article on choosing a roaster for your coffee shop. In some countries], you may also need to own a special licence and a certain type of insurance because of the carbon emissions produced,” Amir says.
In this article, we discuss some of the basic steps that can help you bring your dream of starting an event planning business to fruition. Want to learn how to start an event planning business? It’s not as difficult as it may seem. You will, however, need to stay organized and be willing to keep working until everything is running smoothly.
So, in this article, we discuss some of the most important restaurant costs, how to calculate them, and how to use them to run your restaurant better. The term “restaurant costs” is generally used to describe one-time expenditures on material resources — such as food, liquor, dishes, equipment, and software — that keep the business running.
In this article, the management experts at Sling answer your questions and tell you everything you need to know to optimize labor costs, stay on budget, and manage your business better. In some states, the employees themselves purchase this type of insurance through a private carrier. You can’t manage what you don’t measure.
In this article, we’ll discuss the three general stages of starting a business — learning, building, and working — and the specific steps within those stages that can help you get organized on the road to starting your own landscaping business. You can always purchase new equipment and tools as your business grows.
In this article, we discuss some of the key steps for opening a physical fitness center and introduce you to a tool that can make opening, organizing, and operating any business much easier. What insurance is necessary? What type of equipment will you need? 8) Purchase insurance. That’s what business insurance is for.
In the previous articles, we talked about how to open a food truck , why your food truck needs a website and tips related to tax saving and insurance. In this article, we have put together some ways to help you make your food truck business green and sustainable. . Use Eco-friendly Equipment.
Although most consumers only experience the components of foodservice operations directly involved in the serving process, foodservice industry careers encompass everything from equipment manufacturing and kitchen design to business management and menu creation. “We even read real estate transfers.
The information provided in this article does not, and is not intended to, constitute legal or financial advice; instead, all content is for general informational purposes only. Information in this article is presented “as-is” and may not constitute the most up-to-date information.
In this article, we discuss how to plan, prepare, and, finally, go to work in your own cleaning business. What type of equipment is necessary? You can find resources and gain experience by reading articles online, talking to people who already work in the cleaning industry, or getting a job at an existing company.
This article lists out 4 pro-tax tips for food truck owners to save some extra money on taxes which then can be reinvested or kept for personal use. To establish a food truck, you’ll need to invest in some expensive equipment, which may cost thousands of dollars. Insurance Saves Money .
In this article, we discuss what goes into putting together a human resource management system (or HRMS for short) that has the potential to bring benefits to every corner of your operation. If you offer benefits — fringe or otherwise — you know how complicated things can get.
In this article, the management experts at Sling will answer all your questions about overhead costs and help you get a handle on this important business expense. Equipment maintenance. Insurance is a prime example. Divide your premium by 12 and earmark that amount only for insurance at the end of the year. Advertising.
In this article, the experts at Sling answer both those questions with a list of employee incentive programs that actually work. Common benefits include: Sick leave Paid time off (PTO) Healthcare insurance Retirement plan Unemployment compensation Disability leave. But what perks should you offer? 30) Workspace upgrades.
You may also want to consider giving them insurance or a dental plan. Personal Protective Equipment. You should, for this reason, encourage staff and customers to wear masks and other personal protective equipment. Offering Bonuses. Doing so can make staff and candidates feel a lot more comfortable. Flexible Work.
In this article, the workforce-management experts at Sling discuss everything you need to know about the gig economy so your business can adapt, evolve, and improve. utilities, maintenance, equipment, supplies, etc.) Is your business thinking about getting involved in the gig economy? What Is The Gig Economy? low and under control.
In this article, we discuss the personnel file and necessary employee documents in detail and then give you tips and best practices to help you create the best recordkeeping system for your business. Local, state, and federal laws make it mandatory that you do so. PHR, SPHR, SHRM ) Project management certifications (e.g., Medical file.
Only employees who are comfortable in their own skin at work are ideally equipped to dream, envision, and innovate without being fearful of what others will think of their ideas. Society Insurance Wants to See Your Business Reach Full Potential Helping businesses like yours grow and reach their full potential is what we do.
In this article, we are going to look at some of the most effective restaurant accounting tips: Understand Restaurant Accounting Terminology. They include the cost of paying a mortgage or rent, permits, insurances, equipment costs, and certain operational expenses. They form the minority expenses of running a restaurant.
The costs in this budget include the rent payments, the salaries, insurance, property taxes, and everything else. This includes depreciation of equipment, as well as wages, overtime, and the costs associated with running a cell phone. . Equipment repairs . Business insurance . Reduce Equipment And Supplies Cost .
Additionally, you’ll want to buy insurance for your truck. Insurance comes in many varieties. A food truck is likely to have similar food costs as a brick-and-mortar restaurant, but they save on costs like rent, insurance, staff, and utilities because they have lower overhead. Promote your food truck business .
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