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With change in restaurant management so dynamic, industry experts say that now is a good time to review and even revamp restaurant insurance policies. “Along with making changes to their menu offerings and business models, many restaurateurs are also reassessing their insurance needs.” Food Delivery Issues.
obtaining a full-service liquor license can vary significantly in cost, but Florida's process is especially challenging due to a county-based quota system that limits the number of licenses available. A well-crafted menu and unique ambiance can encourage customer loyalty. This financial burden is not unique to Florida.
From a legal perspective, Insurance : the pandemic highlighted the limitations of insurance policies. Several high-profile restaurant groups brought litigation against insurance companies for their coverage position, but were ultimately unsuccessful. – Pooja S.
This could mean more alcohol consumption by customers, higher risk of accidents by customers and higher probability of lawsuits against restaurant owners. The training for restaurant staff doesn't change because of extended service hours. typically has 1 bartender per 50 customers. The average restaurant in the U.S.
There are multiple reasons for this including the inherent dangers in preparing and serving food, frequent staff turnover resulting in new team members who are unfamiliar with your operations, and a continuous stream of customers who can be injured or become ill during or after their visit, to name just a few.
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.
restaurant industry has a loaded plate as 2021 picks up steam – especially from an insurance and financial protection point of view. “The prospects for fine dining and sit-down restaurants are going to remain strained for all of 2021,” said Doug Groves, founder at Program Insurance Group, in College Station, Tex.
Simplify Health Insurance Open Enrollment Health insurance is one of the most valuable benefits you offer, so make open enrollment a central, streamlined year-end activity. Scheduling Training : Plan mandatory training for harassment prevention, safety, or customerservice if required by law or beneficial for your operations.
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. ” Key Insurance Issues for Restaurant Owners.
Just weeks into the COVID-19 pandemic with more questions than answers, every industry was trying to figure out just how to move forward while still remaining safe, and keeping their staff and customers safe as well. It’s also understandable that many may have that fear in the back of their minds.
Between obsessing over food and finances, one key consideration shouldn’t fall through the cracks—restaurant insurance. Having trouble deciding what kind of insurance your restaurant needs? What is Restaurant Insurance? Why Do You Need Restaurant Insurance? What Does Restaurant Insurance cover?
According to a recent study , 44 percent of Americans use food delivery services, and the entire country spends over $100 billion on food delivery in a year. For restaurants who are not able to employ their own delivery drivers, third-party delivery services like Grubhub, Uber Eats and EatStreet handle the delivery.
Cybercriminals are increasingly targeting restaurants, seeking to steal sensitive customer data and disrupt business operations. That's why it's essential for restaurants to consider cyber liability insurance. With cyber liability insurance, the costs of hiring attorneys and other legal expenses can be covered.
Ahead of New Year’s Eve celebrations, Society Insurance, which provides coverage to the hospitality industry, has put together the top four tips on how a restaurant can protect themselves, their patrons and their employees as well as create a safer environment on Dec. Don’t Be Afraid to Refuse Service. 31 and beyond.
This is where compulsory liquor liability insurance becomes critical, as it protects businesses that serve, sell, supply, or distribute alcohol. However, relying solely on liquor liability insurance may leave businesses exposed to costly risks. A compelling example is Palmetto Brothers Dispensary in Laurens, South Carolina.
In March, businesses were forced to take a step back and look at their business model to ensure that they were addressing their customer’s health, hygiene and safety concerns. So, what can brands do to address the impacts of COVID-19, while being mindful of the past, present and future of customer experience?
Delivery is an essential part of restaurants nowadays, which is why there are more restaurants partnering with third-party delivery services, even if they already have their own in-house delivery. If you monitor these reports regularly, you’re going to know right away when one third-party service is outperforming the others.
The customer's needs always come first, even though my prices continue to rise. Self-ordering kiosks, QR codes, mobile apps and loyalty reward cards have created more personalized experiences, which increase the likelihood customers will return. Technology has redefined service models, but great hospitality remains irreplaceable.
Society Insurance has been working alongside business owners for more than a century, seeing first-hand the devastating effects a fire can have on the establishments that make communities great. Restaurant owners can mitigate these risks by hiring qualified professionals for installation, maintenance, and cleaning service.
How do restaurant operators find efficiencies to minimize costs without degrading quality or service? At the same time, restaurants are grappling with staffing issues, with recent research showing that one in three food service workers doesn’t want to stay in the industry. Each year, insurers pay out $2.5
Quality food and top tier service with the incentivization of loyalty programs and a good location should be enough to get a good share of local customers. Society Insurance has compiled three tips to help find new customers for your restaurant and bar. Have your staff encourage satisfied customers to leave a review.
Restaurant insurance is complicated. Just as owners have to play many roles in management, marketing, and menus, their insurance has to protect their finances, patrons, and employees. And who has the time to read a 100-page insurance policy? These are often excluded from standard policies and be potentially costly.
Society Insurance, which provides coverage to the hospitality industry, has put together four tips on how restaurants and bars can help create a safer environment on St. There are a variety of laws and regulations that could impact a business in relation to service of alcoholic beverages. Closely monitor alcohol service.
Ahead of this year’s football season, the team at Society Insurance has put together the top four tips on how a restaurant and/or bar can protect themselves, their patrons and their employees as well as create a safer environment for football season and beyond. Don’t Be Afraid to Refuse Service.
To combat these obstacles among countless others, leaning on point-of-sale (POS) solutions can empower restaurants to quickly leverage new features to maximize profits in a fluctuating service economy. Making data-driven decisions will provide valuable insights to ensure profitability regardless of changing customer preferences.
With products now cleared for consumer sale in both the United States and Singapore, the cultivated meat industry is moving from proof of concept and early-stage R&D to a focus on demonstrating scalability, sustainable unit economics, and consumer and customer demand.
Understanding the Drought The labor shortage has hit hard, with many restaurants operating below capacity despite a rebound in customer demand. The gap between available positions and willing, skilled workers has widened, putting pressure on service quality and business sustainability. Creating a positive work environment is crucial.
If an intoxicated customer leaves a restaurant and causes injury to someone while driving, it could be tied back to the restaurant that served them. Liquor Liability Insurance protects a small business that manufactures, sells or serves alcohol. Identifying signs of inebriation is a must-have ability for your whole bar team.
33 percent of consumers say they would be willing to pay a higher fee for faster delivery service. The goal of your delivery program should be viewed as a way to drive incremental revenue while building an expanded customer base. This means deciding whether you want to do in-house deliveries or work with a third-party delivery service.
An internal study with Society Insurance policyholders who experienced fires found that the majority of fires were due to cooking equipment, costing in excess of $5.4 Restaurant and bar owners can mitigate these risks by hiring qualified professionals for installation, maintenance, and cleaning service. Train all staff on their use.
As more states implement restrictions and seating bans on restaurants to curb the spread of COVID-19, many restaurants are offering delivery for the first time and are now more vulnerable to challenges arising from delivery services. It may also reduce the restaurant’s employees exposure to the virus through customer contact.
By Indiana Lee, Contributor The rise of food delivery services has driven the restaurant industry into a new frontier. While many restaurant owners eagerly embrace this trend, it’s crucial not to overlook the additional expenses of implementing a delivery service.
DoorDash, Grubhub and Uber Eats are among the most popular third-party ordering (“TPO”) platform services on the market, which tout online ordering and delivery solutions to restaurant owners across the country. However, given the access to customers and additional revenue they may provide, do the benefits outweigh the negatives?
Shortages in customer demand or employee services. Insurance coverage is an excellent resource to have as part of your risk response strategy. Insurance policies cover injury to employees or customers on your premises, damage from inclement weather, and much more. Cybersecurity threats. Operating system failure.
.” No truer words were spoken by Benjamin Franklin and is a mantra that resonates deeply for businesses in the food service industry—many of whom are in recovery mode in the midst of the COVID-19 pandemic. That’s five to seven times more energy used by food service than in a commercial space. IoT to the Rescue.
Menu pricing isnt just about covering costsits about finding that sweet spot where profitability, customer perception, and operational reality meet. Too high, and youll drive customers away. Your menu pricing needs to match the experience youre offeringand what your customers are willing to pay for it.
Society Insurance has been working alongside restaurant owners for more than a century, seeing first-hand the devastating effects a fire can have on the establishments that make communities great. Restaurant and bar owners can mitigate these risks by hiring qualified professionals for installation, maintenance, and cleaning service.
28, Society Insurance has put together a brief guide to help you safeguard your restaurant against cyber attacks and what to do if one happens to you. “Dear Customer”) and threats regarding your financial accounts (i.e. Knowledge of the enemy is important in any battle, and fighting to protect customer data is no different.
Fixed costs Fixed costs are expenses that remain constant, including rent, insurance, and utilities. If transferring isn’t an option, you can try to reduce other fixed costs like insurance premiums. You can also negotiate service contracts for regular maintenance at a lower cost.
While maybe less cute than National Pet Day (4/11) and less tasty than National Cheeseburger Day (9/18), National Insurance Day on June 28 encourages businesses to review their policies to ensure financial success and safety for all involved. “Dear Customer”) and threats regarding your financial accounts (i.e.
The research found that businesses worldwide – particularly restaurants – intend to experiment more in 2025, especially with customer retention programs like loyalty, as they face the triple challenge of sustained high inflation, shrinking consumer wallets and the need to raise prices across the board.
The first option is to use a third-party delivery app like UberEats and Doordash, and while they’re great options to increase your restaurant’s reach, they are known to charge a large percentage of the total bill—often upwards of 20-30% in order to use their services. You will be in contact with the customer directly. Auto insurance.
” Society Insurance has been working alongside business owners for more than a century, seeing first-hand the devastating effects a fire can have on the establishments that make communities great. Bar owners can mitigate these risks by hiring qualified professionals for installation, maintenance, and cleaning service.
. “Without aggressive action from the federal government, many restaurants that are a staple of local communities will simply never resume service.” Without aggressive action from the federal government, many restaurants that are a staple of local communities will simply never resume service.
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