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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. So, how can restaurant owners and operators reduce these risks?
A new year is creeping up on us again, bringing fresh opportunities—and challenges—for restaurant operators. Update Your Employee Handbook Your employee handbook sets the tone for your culture by establishing expectations and aligning your team toward a common goal and vision.
Understanding whether your staff are employees or independent contractors isn’t just about following the rules—it’s key to maintaining a fair, compliant and smoothly running establishment. Employees classified as exempt from overtime must meet specific criteria, such as executive or administrative duties.
While there is an opportunity for restaurant operators to reap the benefits of increased alcohol sales, they must pay attention to the potential liability. The real challenge for restaurant owners is the increased possibility of alcohol-related incidents, simply due to more time for risks to happen.
Traditional sit-down restaurants and mobile food businesses have uniquely different needs when it comes to insurance. While there is some overlap in coverage needs, it’s important to understand the differences when it comes to insuring your business. Traditional Sit-Down Restaurant Insurance Needs. Property Insurance.
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.
All of them have asked us for help in saving their businesses and helping their employees. 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.
While our team is extremely excited about seeing each other in person, as a business owner, it‘s my responsibility to ensure we’re being safe, following appropriate CDC guidelines, and making the best decisions to protect our employees. Further, the Rockefeller Foundation found that 44 percent of 1,339 U.S.
Restaurant and business owners should always be prepared in the event of loss or damage to normal business operations. Navigating these policies and their intricacies is a daunting task, even for some experts in the insurance industry.
Over the past few months, many restaurants made difficult decisions to reduce their workforce and apply a strict delivery and takeout format or pause operations entirely due to COVID-19. The return of a more regular dining experience signals an encouraging step forward for owners and employees alike, however, caution is necessary.
A former employee filed a class-action lawsuit against Panera, following a data breach earlier this year. The suit claims that Panera is to blame for the breach, which exposed employees’ personal information, including Social Security numbers. What can restaurant operators learn from this experience?
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.
McDonald’s is among the growing number of employers to be hit with a lawsuit by a group of Chicago employees claiming the company failed to meet expert recommendations and government guidance for on-the-job protections against COVID-19. Your pandemic plan should be part of your Injury and Illness Prevention Plan.
With the laundry list of everything bar and restaurant owners need to handle on a daily basis, proper insurance coverage should be top priority. Proper communication with the insurance agent about all the ins and outs of the restaurant can help set up the policy right from the get-go.
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. Obtain Liquor Liability Insurance. 31 and beyond.
These virtual brands have allowed restaurants to hone in on hot niche trends (anything chicken related, typically) with consumers. The carryout-only brand of It’s Just Wings, operating out of Chili’s kitchens. In this changing environment, the right and adequate amount of insurance protection has never been more important.
Data from the National Restaurant Association’s 2023 State of the Restaurant Industry report revealed that nearly three in four operators were focused on sustaining growth. That won’t cut it in an industry that faces major risks associated with employee injuries and food safety.
Consider PPP loan insurance to cover damages, legal fees and fines if the SBA determines that your business was ineligible for the loan. Chang’s won PPP exemptions to bridge their operations until they open their doors open once again. Have 500 or fewer employees, taking into account any and all affiliates.
” The Association proposed three separate categories of protection for industry restaurants and employees: directed/targeted financial relief; loans/insurance options for impacted small businesses; and tax measures. Loans/Insurance Options for Impacted Small Businesses. Federal Loan Program Equal to Lost Revenue.
Some staggering statistics on the restaurant industry during this pandemic include: Restaurants, on average, laid off 91 percent of their hourly workforce and 70 percent of salaried employees due to COVID-19 related closures ( James Beard Foundation ). Covered Period. Reductions in Average Full-Time Equivalency.
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?
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. Implement comprehensive standard operating procedures and policies.
For over 60 years, there had been no meaningful updates regarding joint employer status, leaving many franchisors and similarly situated parties wondering – is my entity liable as a joint employer for my franchisee’s/affiliate’s acts relating to employees? Determination of employee’s rate and method of payment.
In what has been a closely watched case, a court in France recently ruled that France’s largest insurer must pay on a claim brought by a restaurant forced to shut down due to the COVID-19 outbreak. Many insurance companies, however, have already begun to signal their intent to deny pandemic-related claims.
For more than 100 years, Society Insurance has been providing coverage to hospitality businesses. The Future of Nuclear Verdicts Society Insurance expects more of a discussion around nuclear verdicts and, ideally, an elimination of nuclear verdicts in favor of fair and just verdicts for restaurants. 86ing Gas Appliances – Or Not?
Most restaurants now are dealing with a fraction of their normal staff due to the reduction in operations, either because of state by state social distancing requirements and/or a diminished number of patrons who are willing to dine out these days. Let the public see that you care about their safety and that of your employees.
However, restaurants seeking to capitalize on this new technology must navigate the aviation and privacy laws governing commercial drone operations. Drone operators must also register each drone online with the FAA and mark the drones with their distinct FAA-issued registration numbers. The first is a waiver of Part 107.31
Restaurant owners must consider risks like increased insurance costs and potential wear and tear from extensive use if they opt to use a personal vehicle. If you purchase or lease dedicated delivery vehicles, consider additional expenses such as maintenance, insurance, and fuel.
The worst part is, this type of illness is largely preventable Restaurant owners and operators need to take active steps to prevent foodborne illness from coming out of their kitchens. Make sure your employees understand when to wash their hands as well as appropriate times to use (and change) gloves. Your workers will take short cuts.
Lack of health insurance isn’t considered one of the major reasons the hospitality industry has, according to the U.S. ” To me, that says employees aren’t feeling valued by the owners and managers of their restaurants. Many of the employees tell me that they appreciate that mental health is covered as well.
In today's workplace, the significance of addressing employee mental health has become increasingly crucial. The well-being of employees directly impacts their productivity, engagement, and overall satisfaction. Offering Mental Health Benefits To support employee mental health, employers can offer a range of mental health benefits.
This may make sense in terms of distributor strategy, but BrewLogix is raising a cautionary flag for 2024 as it relates to the on-premise product mix. As it relates to technology, there’s no question more and more tap rooms, bars and restaurants are embracing technology. That may not be true.
I think it is very important for business owners, in general, to make a statement that our employees matter and so does their voice,” said Hunter Evans, Chef, at Elvie’s in Jackson, Mississippi. Interviews range from baristas and servers to operations managers. ” Hunter Evans. We often have meditation before service.
Court of Appeals for the District of Columbia dismissed an appeal by the operator of the &pizza restaurant chain in the United States against a copycat restaurant based in Scotland. Full-service restaurants are exempt from this law if employees sort organic waste. commerce that violated the Lanham Act. Legislation.
Depending on what kind of hardware and POS system a restaurant is using, each delivery app may require a unique and intensive process to integrate it with current operations. The point isn’t just to keep a higher percentage but also to curtail operational expenses. The critical factor, operators should know, is scalability.
The operator was relatively young and had no clear line of succession. Within weeks, his corporation declared bankruptcy, leaving 500 employees wondering if they would keep a job and putting $30 million dollars of sale volume at risk for the brand. Operational Continuity A succession plan begins with operations.
Demand is surging and finding employees has become almost impossible. Simply caving into wage inflation usually turns into a permanent adjustment, so employers are looking for creative methods to attract employees. All employees have cellphones, tablets and TV’s. Circumstances change rapidly in the restaurant sector.
Mission critical elements of operational agility and what they ‘mean’ for individual restaurant, food service and hospitality businesses, and the industry at large, in the post-pandemic era. Below, are a few observations on some of the hard lessons learned amid the pandemic and offers some strategies in relation.
The third wave of safety in restaurants is not going to be an operational issue. From an operator point of view, it means I can start a business faster and cheaper—that's the push. ” Think Globally, Operate Locally. What’s needed to create real, durable change that will positively impact employees?
In many cases, an injured employee will have a right to compensation. This is why you pay into your state’s workers’ compensation fund or self-insurance. This means that your employees can’t put in a claim for something that’s unrelated to work. The employee was injured while violating company policy.
Her career has included performing services (operating partner, corporate/private trainer, health inspector, third party inspector, adjunct professor) in various sectors of the foodservice industry. Having written over 300 articles for national trade magazines, I am often asked about industry-related topics.
The upcoming section details these costs across two categories: restaurant startup costs and operating costs. 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.
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