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Benefits and Protections Full-time employees are often entitled to benefits such as health insurance, paid leave and retirement plans, whereas part-time and temporary employees may not be. Relationship of the parties − are there written contracts or employee-type benefits, such as a pension plan, insurance or vacation pay?
These issues have translated to the industry’s insurers as well – causing even more headaches for restaurant owners. The restaurant insurance market has seen rising costs to insure and as a result, carriers have come and gone from the market.
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. Bonus Tip : Create a simple FAQ document to address common employee questions about coverage options.
In addition, most restaurants should have business interruption insurance, and that insurance may provide some relief from economic pain. Business interruption insurance covers the loss of income that a business suffers after a disaster. Document Everything. Gather Your Complete Insurance Policy.
In that case, there may not be any insurance outside the driver’s personal auto insurance. If you’re contracting with a third-party delivery service, let your insurance agent know. Your agent can review the contract to determine what types of insurance you may need to protect your restaurant.
Just as challenging is keeping on top of federally mandated franchise disclosures contained in the Franchise Disclosure Documents (FDD). Either way, both franchisors and franchisees alike need to be aware of the nuances that can be unclear, especially in the FDD, which is a complex document. And there’s a lot of value to that.
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.
It’s a lawsuit under Part B of workers’ compensation insurance – a claim of “willful neglect” that has been rare until this year. And document every action you take to support a safe workplace. What do safe work practices look like? Start by posting the right notices. Think wellness.
Often the upsell from franchisors and service providers includes seemingly convenient, useful, and “free” extras like employee handbooks, wage and hour policies, and employment forms, but these one-size-fits-all documents are often tailored to federal law and don’t account for changes in California law.
Society Insurance put together seven items restaurants should include in their sexual harassment policy. Every situation is unique so this section shouldn’t be too detailed, but rather cover the steps of addressing, documenting, and completing the procedure. Definition of Sexual Harassment in the Workplace.
At the same time, RTW plays a major role in controlling claim costs and the direct impact on insurance premiums. Documents for internal case management. Even if the employer can't fill an entire shift, shortened work schedules minimize the insurance program's wage replacement costs and speed up recovery time.
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. During the training, encourage employees to document physically demanding job duties such as heavy lifting to help identify and plan around potential injury risks.
The premise is that employees (especially those with significant health issues) have difficulty navigating the world of health insurance and, therefore, are susceptible to making poor and inefficient choices. This compares to the average insurance provider score of 57. The piece not yet addressed is cost savings.
Will the loan be forgivable if the proceeds are used to pay franchise fees, property taxes, or insurance? The employer should organize their payroll and expense documents in order to ensure that they document every dollar spent with the proceeds of the loan. For what purposes can a restaurant use the PPP funds?
For many, the next logical step in this situation has been to file a claim with their insurance company. During an occurrence as rare as a pandemic, it is encouraged to file a claim with your insurance company, no matter the exclusions that may be outlined in your business’ policy. Track Your Financial Losses.
Developing and documenting stringent compliance protocols for this statute may increase a restaurant’s likelihood of success on its FAA waiver applications.
Another growing risk: nuclear verdicts over dram shop law violations, driving up the costs of liquor liability insurance. It’s a continuing problem into 2024 for establishments that serve, making it critical to have adequate liquor liability insurance. Here’s an overview. But it’s hard to get and very costly.
Industry Analysis : Document the size and trends in the restaurant industry to show readers you are an industry expert. Competitive Analysis : document local competitors and show how you will be able to carve out a niche in your market. This means the bank is partially "insured" in case somebody is unable to repay them.
Cleaning subcontractors (or store employees if not subcontracted) should perform hourly visual inspections to identify any potential hazards and document these efforts. Create an Incident Report When an accident occurs, ask the customer to complete a written incident report and provide it to your insurance company immediately.
Document everything If your physical location has been damaged by wildfires, document everything. This will be helpful for filing insurance claims and applying for state or federal aid programs as they become available. Keep a detailed document listing how your business was damaged with photographic evidence.
This document should specify discounts on each type of drug category – generic, brand named and specialty drugs, and their associated rebates. It’s also is not viable to carve Rx coverage out of a fully insured contract due to the lack of stop loss availability. Understand Your Costs.
While that might seem like a simple course of action, the availability of testing is well documented. While insurance carriers are responsible for performing the assessment for fully insured employers, self-funded employers are responsible for their own assessments.
You will need to provide two forms of documentation supporting any changes you make (ie. You will need to provide two forms of documentation supporting the details you input for your business. (ie. Please Note: This is documentation our team may request from you in the future, but is not something you need to complete enrollment.
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.
Health insurance plan opt-in forms. Federal Insurance Contributions Act (FICA) taxes : Employees and employers split paying into Social Security and Medicare. Deductions for benefits like health insurance, 401(k), dental, vision, etc. Direct deposit information such as a bank routing number and account number. Withhold 6.2%
Offer comprehensive benefits to restaurant workers In addition to wages, make sure to outline the benefits you offer, such as health insurance, paid time off, or employee discounts. For instance, a job listing for a line cook might state, “$17 per hour, health insurance, paid sick days, and employee meals included.”
Should a staff member break the rules with a fireable offense, you will have documentation that protects you from any wrongful dismissal. Once the document is legally sound, distribute a draft to your existing staff and get their opinions on it. It makes every little task trackable, transparent—and most importantly—accounted for.)
The hospitality industry may attempt to mitigate its damages by invoking force majeure clauses in their loan documents or leases, if in fact such clauses are contained therein. One issue will certainly be whether or not the specific force majeure clause at issue addresses pandemics or other related situations.
Discuss all of the phases of the procedure: Investigation Resolutions Appeals Every situation is unique so this section shouldn’t be too detailed, but rather cover the steps of addressing, documenting, and completing the procedure. Society Insurance bears no responsibility for the accuracy or content of linked or cited material.
One source of those funds could be a key person life insurance policy, separate from any proceeds going to the family, that is payable to the business. Make sure there is a document, especially as a sole owner, that gives similar authority for someone to make decisions if you are no longer able to do so.
They met my struggle around pronoun choice with patience, and helped make the long list of little things — from compiling name change documentation to navigating insurance networks — seem less infinite. From there, I made incremental steps with my colleagues at my side. I knew that terroir was incredibly important.
A franchisor merely providing samples/form documents to franchisees to use (operational plans, business plans, marketing materials) does not suggest control – it’s merely a guidance or recommendation that the franchisee may or may not choose to use. i.e. selecting health insurance plans and pension plans.
Your restaurant is different so ensure you find your ideal food cost (discussed later) Labor cost : Roughly 30% of revenue including management salaries of 10% Insurance varies by provider and type. Fixed costs include rent, mortgage, salaries, loan payments, license fees, and insurance premiums.
On a state-level, New York has this resource center with guidance and documentation on how to keep the restaurant safe and inspection-ready. Texas: Entire State , Inspection Report Document. We've linked out to the informational pages for each of the counties below: Los Angeles. Orange County. San Francisco. State of Oregon.
But there’s more to the process than just filing employee documents away and forgetting about them. 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. Table of contents. Medical file.
Filing for Georgia Unemployment Insurance (UI) can be a complicated process leading to multiple questions from both the employer and the employee. Supporting Documents. By Colin Kopel. This frustration of filing claims is magnified during the coronavirus pandemic due to the mass influx of claims overloading the GA DOL’s capabilities.
Employee income is better documented, allowing them to qualify more easily for loans. RASI has documented a 26% increase in employee retention for businesses that run weekly payroll, stemming from increased employee satisfaction. Health insurance plan opt-in forms. Forms for any retirement savings plans, such as a 401(k).
Pre-sale checklist for selling a restaurant Before you find a buyer, you should be ready to provide potential buyers with your business’s financial and legal documents. These documents provide insight into how well your restaurant has performed financially.
For restaurants, which often hire freelancers such as chefs, event planners and marketing professionals, this means meticulously documenting freelance agreements to avoid disputes and costly legal repercussions. Ensure all freelance engagements are documented, detailing the scope of work, payment terms and deadlines.
Plus, organized record keeping makes compliance easier, ensuring you can quickly reference documents for law and tax purposes. 7shifts is also FDIC-insured , so you can feel confident knowing your deposits are backed by the full faith and credit of the United States Government. What are the requirements to use Tip Payouts?
For those reapplying: Borrowers will be able to apply for a Second Draw PPP Loan from January 13, 2021, until March 31, 2021, through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, eligible non-bank lender, or Farm Credit System institution that is participating in PPP.
Interface issues can look like: Problems running off-cycle payrolls Hard-to-find reports and tax documents like W-2s Lots of manual data entry Too many features to learn Complications with onboarding employees Payroll isn’t a nice-to-have—it will always be a part of your responsibilities as a restaurant operator.
If a restaurant doesn’t want to hire everyone back, they have to have “legitimate, non-discriminatory (and documented) reasons for why some folks were made offers and others weren’t,” hospitality attorney Jasmine Moy says over email. Of course, legal frameworks also play a significant role in how people are brought back to work.
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