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A new year is creeping up on us again, bringing fresh opportunities—and challenges—for restaurant operators. From updating policies to gearing up for tax season, these steps will enhance your compliance and position your restaurant for sustained growth.
While these cases may be on the more extreme side, restaurant owners have to be careful not to fall into any traps when it comes to payroll, as even accidental violations could still yield big penalties. Staffing levels have been on the upswing since the dark days of the pandemic, with the number of jobs at bars and restaurants up nearly 0.7
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 RestaurantInsurance Needs.
restaurant sector is gaining steam after coming out of a two-year pandemic that shuttered doors and curbed eatery revenues dramatically. According to the National Restaurant Association , the dining industry should generate $899 billion in revenues in 2022. What are the big insurance issues impacting restaurants going forward?
While there is an opportunity for restaurant operators to reap the benefits of increased alcohol sales, they must pay attention to the potential liability. States such as Pennsylvania and North Carolina enacted new laws earlier this year that allow their restaurant owners to serve alcohol for longer periods of time.
This world-altering development—part of a rational and effective public health strategy to slow the spread of disease and help our health care system cope with the devastating illness—has also been a widespread and immediate economic disaster for the nation’s restaurant and food service sector. Document Everything.
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.
Cooking equipment is probably the most important thing inside a restaurant – and it’s also a leading cause of fires. 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 “FIRE!”
During a pandemic, drone delivery may also enable restaurants to serve customers who feel uncomfortable picking up food from a restaurant or having a delivery drivers come to their homes. However, restaurants seeking to capitalize on this new technology must navigate the aviation and privacy laws governing commercial drone operations.
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. Cooking equipment is probably the most important thing inside a restaurant – and it’s also a leading cause of fires.
” 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. When it comes to your expensive equipment, don’t take shortcuts. “FIRE!”
Running a restaurant is tough. The good news is that there are tax deductions and credits made for restaurants and owners that can ease the burden. Essential Restaurant Tax Deductions 1. Equipment and Furniture: Deduct That Big Spend New ovens or tables can cost a chunk, often $5,000 or more. Pro Move Leasing gear?
What can restaurant operators learn from this experience? What makes restaurant chain breaches unique compared to other industries? Modern Restaurant Management (MRM) magazine reached out to Matt Green , partner and Deputy Chair of Obermayer’s Litigation Department, for insights on this topic. Are there any similar cases?
Restaurantinsurance 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.
The Freelance Isn’t Free Act (FIFA) represents a significant shift in labor law, providing new protections for freelance workers across New York state. This law requires written contracts for freelance engagements worth $800 or more or lasting longer than 120 days. Anti-retaliation protections.
Restaurant owners should likewise be concerned about the condition of their premises. If your restaurant was recently constructed, you may be under warranty for certain claims. Consult a construction defect law firm to evaluate a potential lawsuit. Review your commercial property insurance policy.
If you’re in the process of searching for a site in which to open a restaurant – or if you wish to move or expand your existing business to an additional location – it’s important to consider whether you’ll be buying or renting. Buying Your Restaurant Premises. Renting Your Restaurant Premises.
The outlook is improving for many restaurants as COVID-19 restrictions loosen and guests make their way back to their favorite establishments. So what can restaurant operators do to add to their bottom line, create cost savings and generate brand awareness? The process can be a little intimidating. But the good news is: it can be done.
Society Insurance recommends contacting your local “call before you dig” hotline before driving stakes in the ground to prevent any utility line damage. It is provided to assist you in recognizing potential unsafe work problems or conditions and not to establish compliance with any law, rule or regulation.
While Texas and Colorado rank highest for high to extreme wildfire risk, these facts alone should give you pause regardless of where you operate your restaurant. Ahead of the wildfire season, Society Insurance has put together prevention tips and controls a business owner can implement to better protect their establishment from wildfires.
over the past decade, keeping employees in restaurants has become increasingly difficult. However, attracting high-quality restaurant employees goes beyond just filling open positions. Some restaurant staff may prefer fewer hours to accommodate school or family, while others might be looking for full-time work with a steady income.
This final edition of Modern Restaurant Management (MRM) magazine's Research Roundup for 2024 features news of operator challenges and priorities, delivery trends, wages and hourly worker considerations. This is according to a survey conducted by TD Bank at the 2024 Restaurant Finance and Development Conference in Las Vegas, Nevada.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the rise of eCommerce, economic impact, dining during COVID and hot dog insights. Key findings for the restaurant industry include: Restaurant Closures Data. Key findings for the restaurant industry include: Restaurant Closures Data.
Expect a collision of trends to mark the restaurant industry in 2020 as ambitious operators in today’s increasingly marijuana friendly environment test both legal limits and consumer appetites by looking to launch cannabis cafes that serve farm-to-table … everything. Good People are Still Hard to Find.
In this edition of MRM News Bites, we feature help for small business owners and products for the 'new normal' for restaurants as they reopen. ” Traditionally, to enable delivery most sellers list their menu on food delivery platforms because the restaurant doesn’t have their own couriers. .
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. Unexpected downtime, when paired with a swift return to work, can present new risks to restaurant employees. Communicate Return Criteria.
This edition of MRM Research Roundup features the latest facts and figures of restaurant operations, the state of business dining, and the mid-year gift card report. The State of the Restaurant Industry. Quick service restaurants (QSRs), representing 81 percent of restaurant visits in the U.S., foodservice industry.
Due to the Covid-19 outbreak effect on the restaurant industry, Modern Restaurant Management (MRM) magazine is compiling a list of resources available for restaurant owners, operators and managers. The National Restaurant Association has provided a list of best practices to ensure business continuity.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
What are the benefits of self-operated delivery for restaurants? These fees, when not managed, cut deep into razor-thin margins, and in some cases, can contribute to a restaurant closing for good. Without existing apps, this lives on your restaurant’s website. Which means no fees paid to UberEats, GrubHub, Postmates, DoorDash.
Bookkeeping is one of the most essential aspects of any restaurant business. After all, a small, honest mistake can accumulate over time and turn into bigger operational problems— 17% of restaurants even fail in their first year due to mismanagement of finances.
Selling a restaurant can be a major decision for many reasons. One of the main reasons is to cut losses due to financial challenges, with 52% of restaurant owners saying high operating and food costs are really cutting into their profits. If restaurants in your area sell at a multiple of 2.5
At long last, Congress agreed on a new $900 billion stimulus package and the president signed it into law last week. The Act also redefines payroll costs to specifically include group insurance payments made on group life, disability, vision and dental insurance. PPP improvements relevant to restaurant businesses.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news on the impact of California's minimum wage, customer satisfaction, AI use in restaurants, popular cocktails and bathroom readiness. The law changed on April 1. In April and May, California visits were around 2.5
However, data breaches can happen to restaurant chains and small eateries alike. Restaurants can reduce the risk of cyber attacks by taking these proactive measures: Make sure your restaurant is Payment Card Industry (PCI) certified. Notify your insurance agent or carrier. The best offense is truly a good defense.
However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. Zoning and health regulations: Get acquainted with your location's zoning laws to know what to do, what permits to get, and what laws to follow.
By Nick DiMatteo, Fortyfivegames Bar and restaurant owners are constantly seeking ways to stay ahead of the curve when it comes to attracting and maintaining their customer base. There will be electrical and sound equipment needs that will need to be ironed out, whether you have live performers or a DJ.
Restaurants are unique businesses that come with their own specific set of startup costs. Your average restaurant labor cost and restaurant food cost will vary based on your type of concept, location, size, and other details. Before rushing to open your doors, you need to understand your restaurant costs.
Successful restaurant owners and operators don’t just provide great food. The people piece of the puzzle can be challenging for restaurants. Because of the complicated nature of human resources (HR) and the sprawling regulations surrounding payroll, HR and payroll can be a recurring headache for restaurant owners and operators.
This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh.
There can be companies that cater to larger groups, or if you are starting out, you can start small for a party of 20 or 50 people depending on the experience, equipment, and capital you have. This will depend on the local laws concerning the catering businesses and zoning regulations. . Buying Equipment And Sourcing Your Raw Material.
Opening your own restaurant is an exciting business venture. Wanting to start a restaurant business and knowing how to open a restaurant are two different things, however. If you have a passion for food, food service, or bringing people together over a meal, the restaurant business might just be for you. . Plan Your Menu.
How to Deal with Legal Regulations Affecting Your New Restaurant There’s no universal checklist for all of the necessary licenses, permits, inspections, postings, and signage for your new restaurant. These requirements vary greatly between states, cities, restaurant types, and even counties and neighborhoods.
Local, state, and federal laws make it mandatory that you do so. In most cases, a company’s Human Resources department maintains all employee documents and grants or denies access to those records on a need-to-know basis (and according to confidentiality and security laws). 1) Abide by all recordkeeping laws. Medical file.
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