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Many restaurants turned to their insurance policies to provide protection for revenue reimbursement, (i.e., insurance proceeds for loss of revenue), but found the majority of insurance policies, unfortunately, did not / do not provide the coverage they anticipated. How Insurance Policies React.
For the original article, click here. With restaurants clawing back and facing new challenges like vaccine credentials and new COVID variants, it’s a good time to check on an equally important, if less prioritized corner of the American dining and drinking sector – restaurant insurance. restaurant scene. On the upside, U.S.
Last month, our article summarized the “state of the market” for employee benefits in the restaurant sector. Then we’ll review the best strategies for plan cost management. In our last article in MRM, we noted that none of our restaurant groups raised employee medical premiums for the 2022 plan year.
Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. When it comes to managing medical plan costs for restaurant employers, aggressive management of prescription drug expenditures can yield significant savings.
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. Manage Access to Keys : Only distribute exterior-door keys to employees who must have access. This article is not a template.
Society Insurance put together seven items restaurants should include in their sexual harassment policy. This section should discuss how management and/ or HR will handle the sexual harassment complaint, step-by-step. This article is not a template. Definition of Sexual Harassment in the Workplace. Be as detailed as possible.
In 2021, smaller plans that are often fully insured (fewer than 500 participants) saw a 9.6-percent Voluntary supplemental insurance plans, accident, critical illness, and hospital indemnity for example, remain popular in the restaurant sector. With the rise in the general inflation rate, will it be this low? percent rate of increase.
The problem this article addresses is the trickle-down of the “great resignation.” New managers jump in without being well educated on reporting or handling of claims. Yet, it is hurting us in ways we will not even see until our next few insurance renewal cycles.
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. Supplement your restaurant’s safety further by training managers to spot the early warning signs of workplace injuries in employees.
Society Insurance has compiled three tips to help find new customers for your restaurant and bar. According to a Referral Rock article and a study conducted by Talk Triggers, “83 percent of Americans say that word-of-mouth recommendations from friends or family members make them more likely to purchase the product or service.”
Research by Mind reported that 45 percent of workers felt that they are expected to cope with work stress in silence, and 31 per cent felt that they couldn’t openly talk to their line manager if they felt stressed. So, what can be done to help manage stress? What Is Stress? Symptoms of stress can be hugely diverse and numerous.
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'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.
The article you read from last year may be outdated. Wage and hour claims are particularly risky because they almost certainly are not covered by any of your insurance policies and they are often the subject of class actions and representative actions under PAGA, which resulted in nearly $90 million in penalties in 2019 alone.
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. Easier Money Management. Cash flow management is one of the biggest challenges when running a restaurant. Buying Your Restaurant Premises. Lower Risk.
If you are part of a working couple, managing a budget, paying for a mortgage, supporting two cars, and probably still paying off your student loans, then does going out to dinner make sense? Do the math. Strict economics would require most people to think hard about spending that kind of money. So, are we pricing ourselves out of the market?
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. Based on the doctrine of standing, the Court found that the plaintiff had not shown any ongoing injury sufficient to establish Article III standing.
Internal complaint procedure This section should discuss how management and/or HR will handle the sexual harassment complaint, step-by-step. It starts with business owners and managers to create a safe working environment and lay out a clear path should incidents occur. This article is not a template. Look no further.
Contact your insurance company. The sooner a claim is received, the sooner it can be processed, managed and brought to resolution. This article is not a template. Society Insurance bears no responsibility for the accuracy or content of linked or cited material.
To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. " Fitsmallbusiness.com launched a series of articles detailing what the restaurant industry can do to stay ahead of the curve as the U.S.
This article addresses some of the most common concerns arising out of the COVID-19 pandemic, from the perspective of an employment lawyer and a restaurateur. Most importantly, management and ownership must be visible. Lastly, train your management on the foregoing. Stay abreast of changes in CDC and OSHA guidelines.
This article will answer the most common questions we have heard in our legal practice from restauranteurs. Will the loan be forgivable if the proceeds are used to pay franchise fees, property taxes, or insurance? Congress approved an additional $310 billion for PPP loans in a second round of funding which began on April 27.
We’ll share his answers with you in this article, along with our top reasons why a food truck makes the perfect gateway to opening a restaurant. While you’ll likely want to hire someone to help take orders, you can realistically manage with a single part-time employee. Why Is a Food Truck a Smart First Step?
Most insurance companies have denied claims from restaurant owners resulting from the COVID-19 pandemic. Business owners counterclaim they are entitled to benefits in Business Interruption Insurance policies that protect against lost income after a covered peril affects a policyowner. A third victory arrived when the U.S. ” .
This article will present some ideas to consider in that evaluation. The terms force majeure and “Acts of God” appear frequently in articles, newsletters and other publications as more and more businesses are looking for ways to freeze performance under their lease or perhaps, terminate the lease altogether.
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.
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. However, with deep-fat frying comes risk as the oil can easily reach near 400 degrees Fahrenheit and is extremely flammable, causing kitchen fires, scalds and more.
By understanding the ways it can occur, business owners or managers have a much higher chance of identifying it before it racks up a hefty bill. Give your managers top-level visibility. This is generally by working with your insurance company, attorney, and a CPA. How to spot it: Types of time theft. Seek restitution.
Articles of Incorporation). Articles of Incorporation). Please Note: Be sure to select both “Admin” in addition to “Access to Certificates, Identifiers & Profiles” and “Access to Cloud Managed Developer ID Certificate.” You will need to provide two forms of documentation supporting any changes you make (ie.
Employee turnover is an invisible issue that most managers tend to neglect. But if you want your business to succeed, you need to understand employee turnover and be able to manage it for the better. How To Manage Employee Turnover. The post Employee Turnover Explained: What It Is And How To Manage It appeared first on Sling.
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. Management Team : document your team and why they have the experience and expertise to make your restaurant a success. Table of Contents. Create a Restaurant Business Plan.
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). The company also has a management division that manages full-service restaurants.
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.
Health Insurance Requirements for Small & Medium Businesses. H ealth insurance is one of the most important benefits an employer can offer, regardless of size. According to the Kaiser Family Foundation , only 30 percent of US businesses with fewer than 50 employees provide health insurance to their workers. In short, no.
and will enable TouchBistro to fully integrate customer loyalty and guest marketing into its all-in-one point-of-sale (POS) and restaurant management platform. Lef f , Co-Managing Partner of Ervin Cohen & Jessup. Its proprietary guest engagement solution, which is used by more than 600 restaurants throughout the U.S.
In fact, she has experienced every aspect of the food industry: learning the ropes as a fry girl, managing restaurants, inspecting businesses for the health department, and educating and improving food safety for corporate brands, academia, and regulatory bodies. Consumers, vendors, insurance companies, etc.,
You can’t manage what you don’t measure. 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. Remember, you can’t manage what you don’t measure. What Are Payroll Reports? Attendance.
Mina Seck, community food manager of Sprout NOLA, works with mostly small-scale farmers throughout Louisiana who lack crop insurance. They range from small-scale farmers in New Orleans to LGBTQ and BIPOC farmers throughout the state and most lack crop insurance.
The New York Life Insurance Company is believed to be the first company to begin using direct mail promotions, in 1872. World War II was rough on direct mail; an October 20, 1945, New York Times article mentioned "paper restrictions and wartime production problems" that occasionally plagued the direct mail industry.
And while you may not picture a restaurant manager or worker parked at a desk to work, it's a huge part of restaurant management. If it's not measured, it won't be managed. In this article, we'll go into 15 key performance indicators for restaurants, why they're important, how to calculate them, and more.
Worries about the pandemic, slow business, and fewer jobs for servers are all creating obstacles to rehiring When the COVID-19 pandemic forced one Miami restaurant to shut its doors in mid-March, its management laid off 47 of their 55 employees. As such, there is no work available for bartenders and servers.
While a Forbes article not too long after disputed those numbers, if you live in an urban area, you have seen enough restaurants come and go to know that it’s not a venture for the faint of heart. A death buyout of a principal can be funded by insurance, for instance. A closely-held business is analogous to a family.
Specialty bars focus on a particular type of drink or theme, such as wine bars or cigar bars, but can be much more expensive to manage. Hiring a Strong Team You'll need a manager, bartenders, waiters, and security. We'll cover all of this later in this article. How Much You Can Expect to Earn?
By conducting a break-even analysis, you can make informed decisions about pricing, cost management , and overall strategy. Examples include rent, salaries, insurance, and equipment leases. In this post, we’ll walk through the process step by step, with examples to make it tangible and actionable. What Is a Break-even Analysis?
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