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A new year is creeping up on us again, bringing fresh opportunities—and challenges—for restaurantoperators. From updating policies to gearing up for tax season, these steps will enhance your compliance and position your restaurant for sustained growth.
While there is an opportunity for restaurantoperators 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.
Navigating the bustling world of the restaurant industry comes with its own set of challenges, and one critical area that often flies under the radar is worker classification. Key considerations include: Wage and Hour Laws The Fair Labor Standards Act (FLSA) sets standards for minimum wage, overtime pay and recordkeeping.
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
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?
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 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.
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.
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. Understand Your State’s Dram Laws. 31 and beyond.
Society Insurance has spent 110 years helping protect businesses and has seen firsthand how nuclear verdicts have evolved in the U.S. ” Nuclear verdicts can occur from a dispute in a restaurant parking lot to a food safety issue as well as exist outside the restaurant industry. Recent data shows that U.S.
For restaurant owners and operators, success depends on more than just great food and excellent serviceit requires staying informed, connected, and supported. One of the most effective ways to achieve this is by joining your state restaurant association.
Based on completely unpredictable occurrences such as the COVID pandemic and societal realities such as violence at bars and restaurants, hospitality establishment owners have a lot to consider when it comes to their coverage. Those are two of the biggest things that restaurant owners should be covered for in their businesses.
Running a restaurant comes with a unique set of risks, especially when serving alcohol. For example, if your establishment serves alcohol to an intoxicated patron who subsequently drives and causes an accident, your business could be held liable for any resulting property damage, personal injury, or even fatalities, depending on local laws.
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. Understand Your State’s Dram LawsLaws regarding the sale and consumption of alcohol are not established by the federal government.
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. Understand Your State’s Dram Laws.
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.
What can restaurantoperators 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.
Let’s start with an uncontroversial premise: California’s complex, ever-changing gauntlet of employment laws is difficult for any company to navigate. Yet you may still be wondering why, aside from the headache, does it matter for my restaurant? California employment law isn’t intuitive. Why Compliance Matters.
For more than 100 years, Society Insurance has been providing coverage to hospitality businesses. We see firsthand what restaurants should be paying attention to as new trends and legislation arise. The need for regulation to curb these excessive awards is paramount. 86ing Gas Appliances – Or Not?
It’s hard to escape the continuing boom in restaurant franchises. Quick-serve brands are leading the trend, and not just for restaurants, but for franchises overall. Even experienced operators know that navigating the compliance requirements laid out by each state’s franchise registration rules isn’t easy.
A group of senior staff members met on Thursday, March 12 to discuss how to set up home delivery of beer, and on March 16, one day after Ohio Governor Mike DeWine ordered the closure of restaurants, we launched this new arm of our business. Stories like ours played out in restaurants across the country over the next few weeks.
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.
The cultural phenomenon of Drinksgiving (or Blackout Wednesday) continues to grow in popularity for the restaurant industry, especially as sales continue to rebound from the pandemic. 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.
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.
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.
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. Under the ruling, California restaurants may still not serve foie gras to California consumers. Litigation.
Your restaurant is open and customers are back. Amidst this good news, you should be aware of three hidden pitfalls that could affect your ability to operate safely and with a full complement of staff. Hasty hiring choices can lead to faster turnover, operational problems, and potentially more on-the-job injuries.
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 The Best Offense Is a Defensive Kitchen.
I was in a restaurant for my moms birthday when the World Health Organization declared the spread of coronavirus a pandemic, and, in between sewing my own cloth masks and attending cursed Zoom happy hours, my colleagues and I reported relentlessly on the crisis unfolding in the restaurant world. Some things did get better.
Did you know that more sexual harassment claims are filed in the restaurant industry than in any other industry? Sexual Assault Awareness Month (SAAM) in April is an opportunity for restaurant and bar owners to review existing policies and develop new ones. What if an incident occurs outside of the restaurant or bar?
At this time last year, restaurants and bars across the country went from being houses of entertainment and joy to being forced to close as part of wide-spread mandated shutdowns to stop the spread of an uncontrollable and unknown pandemic. Shock, uncertainty, and confusion took hold of our lives and businesses. The Biggest Challenges.
Society Insurance recommends contacting your local “call before you dig” hotline before driving stakes in the ground to prevent any utility line damage. Proprietors that own and operate outdoor heating units must ensure that all employees are educated on how to shut off the fuel supply in the event of an emergency.
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. Hours of Operation. An Investment.
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. As operators look to bolster these two key areas, they’re also closely watching employee training and guest preferences.
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.
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. T – Timely payments.
restaurant industry will continue to shake off the aftereffects of the pandemic in 2024, but that doesn’t mean the challenges that remain are easily dispelled. Stubbornly high interest rates also keep operators squeezed by the cost of money, both long-term debt and revolving credit lines. Here’s an overview.
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. You should also contact your local insurance agent to discuss in more detail. The three largest wildfires in Colorado history occurred in 2020. Vegetation/landscaping.
Business interruption insurance is an extremely important type of coverage in an insurance policy which is intended to cover for lost income sustained as a result of a covered peril in order to allow for the continuity of your business into the future. Black’s Law Dictionary 11th ed.
” 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. ” is one word no one wants to hear in a bar or restaurant and it is the call in the night owners and managers never want to receive.
Odds are you understand why your auto insurance premium changes. As you age and become a less risky driver, your insurer is exposed to less risk, and your rates drop as a result. Below, we’ll explore some common drivers of bar insurance costs. Reinsurance, to put it simply, is insurance for insurers.
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 restaurantoperators do to add to their bottom line, create cost savings and generate brand awareness? Quality Control, Legal and Insurance.
Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. Over the past five years, nearly every one of our restaurant groups has incurred at least one cancer claim of at least $300,000. Stop Loss Coverage Is Risk Management.
Restaurant accounting isn’t easy. Learning basic accounting is like studying a different language, regardless of how many decades you have in the restaurant industry. Learning basic accounting is like studying a different language, regardless of how many decades you have in the restaurant industry. Sounds complicated?
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