Modern Restaurant Management

NOVEMBER 14, 2022

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.

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Insurance Supplies 2020 Events 506

Modern Restaurant Management

JUNE 14, 2022

Longer term savings opportunities will take a concerted effort, and these are areas for review: Self-insured versus fully insured : Plans with more than 150 employee participants are likely strong candidates for self-insurance; and those between 100 and150 employees may also find self-insurance attractive.

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Insurance 2022 2023 Article 457

Modern Restaurant Management

JULY 14, 2023

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.

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Insurance Food Safety Employee Relations Small Business 221

Modern Restaurant Management

NOVEMBER 16, 2021

On a basic level, stop loss insurance provides protection against catastrophic or unpredictable losses. A basic rule of insurance is that over time, the less insurance purchased will result in a lower cost. Stop Loss Coverage Is Risk Management. a lower deductible).

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Insurance Cash Management Healthcare Innovation 504

Modern Restaurant Management

SEPTEMBER 21, 2021

This is the appropriate strategy for a smaller operator with a single restaurant or with a limited number of restaurants that has to be fully insured. The only factors that have to be considered for this option are price and the use of plan designs that are appropriate for the sector. Then look at their costs.

Insurance 447

Insurance Design Pricing Magazine 447

Modern Restaurant Management

JANUARY 2, 2024

On Menu Ingredients We predict the rise of “bougie” ingredients like caviar, lobster and truffle popping up at restaurants at more affordable prices and in more casual settings like fast casuals and QSRs. I am concerned that rising insurance costs may force some chains to exit the market. Golden Corral is one.

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2024 Fast Casual Food Safety Insurance 493

Modern Restaurant Management

DECEMBER 6, 2021

Rent, food, labor, utilities, and insurance are prime examples. Increasing your prices may prove beneficial : You might even consider adding a special ingredient to some of your low-priced items. Perhaps you can increase the price of the original item, like a premium side, or see if you can bundle them with more expensive items.

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Loyalty Program Insurance Website Management Customer Experience 493

ChowNow

APRIL 15, 2025

Examples include: Rent or mortgage payments Insurance premiums Loan payments Salaried employees (like general manager or executive chef) Because theyre consistent, fixed costs are easier to budget for, but that also means theyre harder to reduce without significant structural changes.

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Operations Online Ordering Customer Service Customer Experience 195

Modern Restaurant Management

OCTOBER 13, 2021

Low-power solutions draw much less power than higher-price cellular or Wi-Fi-enabled solutions to transmit data, which means devices last longer without the need for replacement batteries, resulting in a lower total cost of ownership. Each year, insurers pay out $2.5 billion for water damage claims.

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Food Safety Equipment Customer Service Point of Sale 614

Modern Restaurant Management

JULY 10, 2024

Among the reasons restaurants fail (poor location, inadequate marketing, lack of staff and inventory control, uninspired menu, unreasonable pricing), customer theft is rarely on the radar. ” Some restaurateurs consider this the price of doing business – even a form of marketing.

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Back of House Fine Dining Take-out Social Media 491

Modern Restaurant Management

MARCH 31, 2022

Insurance Coverage for COVID Claims Largely Rejected by Appellate Courts : Throughout the country, appellate courts are reviewing insurance coverage lawsuits brought by restaurants who were forced to close due to COVID-19 pandemic shutdown orders. Oregon Mutual Insurance Co., Litigation.

2022 474

2022 Restaurant Law Tip Distribution Insurance 474

Modern Restaurant Management

MAY 18, 2022

In recent years, medical technology has been driving trend, but in today’s economic environment, medical providers are raising prices. In 2021, smaller plans that are often fully insured (fewer than 500 participants) saw a 9.6-percent Additionally, a bubble has emerged due to deferred care. percent rate of increase.

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Insurance 2022 Technology 2023 531

Modern Restaurant Management

NOVEMBER 24, 2021

Restaurants have faced labor shortages, supply and equipment shortages, and climbing food prices, with no past playbook on how to navigate the crisis. These include sign-on bonuses, higher wages and the offering of health insurance. Looking ahead : Equipment manufacturers estimate that prices will stop climbing sometime in 2022.

2021 474

2021 Food Supply Food Truck Supplies 474

7 Shifts

JULY 12, 2024

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. If transferring isn’t an option, you can try to reduce other fixed costs like insurance premiums.

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Food Truck Customer Service Seasonal Menu Loyalty Program 397

Modern Restaurant Management

MARCH 18, 2022

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.

Insurance 447

Insurance Healthcare Book Recruiting 447

7 Shifts

JUNE 23, 2020

Auto insurance. Get car insurance You must establish who is liable in the event of an accident. Drivers must have auto insurance in order to drive their vehicles, thus you must lay-out in the contract if you will be paying for any damages while on the job. Auto is in quality shape. Valid driver's license. Clean driving record.

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FOH Delivery Insurance Back of House 370

Modern Restaurant Management

MARCH 11, 2025

. – Sophia Goldberg, Founder and CEO, Ansa The big lesson I learned is that I've had to continue to adapt my pricing, because people are still watching their spending. That's why we instituted lower-priced lunch specials and made other adjustments. – Izzy Kharasch, President and Founder of Hospitality Works, Inc.

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Front of House Loyalty Program Recruiting Customer Experience 221

Modern Restaurant Management

NOVEMBER 16, 2023

Lack of health insurance isn’t considered one of the major reasons the hospitality industry has, according to the U.S. One of the major ways to invest in employees is through health insurance, something only about 30 percent of restaurants provide. Bureau of Labor Statistics, a churn rate north of 70 percent.

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Insurance Employee Relations Reference Small Business 309

Modern Restaurant Management

DECEMBER 27, 2023

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. It’s the best way to secure coverage at the best terms and prices.

2024 294

2024 Insurance Recruiting Restaurant Law 294

7 Shifts

AUGUST 2, 2024

This number is essential because it helps you determine the price of your food and beverages. This metric helps you measure the amount spent on labor, particularly salaries, worker benefits, insurance, overtime, and payroll taxes. As a rule, this should make up about 1/3 of your total expenses.

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Point of Sale Inventory Seasonal Menu Cash Management 397

Modern Restaurant Management

JUNE 21, 2023

When introducing new menu items to a menu category, they must be priced at the average profit from that menu category + the recipe cost of goods sold (COGS), and then rounded off to the next half dollar. Round up to the next half dollar and the menu price should be set at $12.50 to ensure you haven’t compromised profitability.

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Menu Influencer Design Food Order 450

Perfect Daily Grind

SEPTEMBER 22, 2022

Over the past year or so, coffee prices have been steadily increasing. The first sign that prices would increase was a sudden frost which hit some of Brazil’s major coffee-producing regions in late July 2021. Since then, prices have consistently remained above the US $2 mark. Exploring prices and costs at origin.

Pricing 184

Pricing Retail Supplies Point of Sale 184

Modern Restaurant Management

APRIL 29, 2021

Provide great benefits, 401k, life insurance, etc. However, with historic low-price points on food along with the typical financial structure of a restaurant, it does not allow restaurants to pay out truly reasonable livable wages in urban cities.” ” One way to do so: increase menu prices.

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Fast Casual Hiring Online Ordering Front of House 553

Modern Restaurant Management

MARCH 3, 2022

Low-power IoT solutions, in particular, offer added benefits because they draw much less power than higher-price cellular or Wi-Fi-enabled solutions to transmit data, which means devices last longer without the need for replacement batteries, resulting in a lower total cost of ownership. Each year, insurers pay out $2.5

Food 530

Food Food Safety Customer Service Customer Experience 530

7 Shifts

AUGUST 18, 2024

Not only do you have to manage many costs including, labor, equipment, and food—but you have to do it while dealing with inevitable price increases. Fixed costs include rent, mortgage, salaries, loan payments, license fees, and insurance premiums. Indeed, controlling restaurant costs is one of your biggest challenges.

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License Equipment POS Food Supply 370

EATER

SEPTEMBER 11, 2024

Lille Allen Six chefs and restaurant owners from across the country explain why restaurants feel so expensive right now, and how they’re coping with high prices and customer complaints Dining out involves calculating the intangible: What is hospitality worth to you? This isn’t a problem of one city or class or demographic.

Pricing 363

Pricing Back of House Food Order Food Supply 363

7 Shifts

AUGUST 7, 2024

It is affected by seasonality, market prices, and even pop culture. Determine your ideal menu price Multiply your plate cost by the food cost percentage to reach a target menu price. per serving Consider variables You can price the burger at $9.25 (rounding up) and make a profit on it. Food prices have been on a steady 2.6

Food 370

Food Seasonal Menu Inventory Pricing 370

Modern Restaurant Management

JANUARY 31, 2025

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. percent decrease in claims.

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Marketing Loyalty Program 2024 2025 221

Harbor Touch

MARCH 18, 2025

Deduct the cost, not staff time or full price. Staff pay: salaries, insurance, bonuses. Insurance: property, liability. Accounting Tip: Split costs in your accounting software. Use 75% repairs, 25% capital improvements. Charitable Donations: Give and Get Back Donating extra food? Feels good, saves cash. Rent: your spaces lease.

Point of Sale 138

Point of Sale POS Restaurant Law Equipment 138

Modern Restaurant Management

JULY 1, 2020

The importance of the price of offering lowered from 78 percent to 50 percent. Prioritizing price amidst COVID-19 fell by almost half among those ages 60+, from 78 percent considering it a top-three factor prior to the outbreak to 41 percent now. For those who would choose to travel, purchasing insurance is key. A total of 71.6

2020 450

2020 Travel Food Safety Consumer Goods 450

Culinary Cues

FEBRUARY 28, 2021

Now here is the kicker – excellence has very little to do with the price you charge or the type of product or service you provide. Create a similar checklist for every product on your menu, regardless of the type of operation or the prices on you charge and you will find a path from mediocrity to excellence.

Uniforms 451

Uniforms Fine Dining Small Business Customer Service 451

Modern Restaurant Management

AUGUST 10, 2021

This compares to Brand drug pricing that has increased 36 percent in the last five years. It’s also is not viable to carve Rx coverage out of a fully insured contract due to the lack of stop loss availability. Of even greater concern, specialty drug spending is increasing 10 to 15 percent annually.

Management 450

Management Management Cash Management Healthcare 450

Modern Restaurant Management

DECEMBER 31, 2024

The primary response was menu price increases, with nearly 61 percent of respondents adjusting prices to cope with the new reality. Despite brands’ value focus, average price continued to increase, up +2.6 Traffic stayed in positive territory (+1.3 percent YOY. Net sales were up 4.9 percent as a result.

Franchise 221

Franchise Franchising 2024 Mobile Ordering 221

7 Shifts

JUNE 4, 2021

Ideal menu price. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. It also plays a key factor in pricing your menu. To get your restaurant's break-even point, you'll need the following: Total fixed costs, like rent, salaries, and insurance.

Point of Sale 416

Point of Sale Inventory Employee Relations Customer Service 416

7 Shifts

NOVEMBER 22, 2021

Marketing Plan : detail your pricing structure (e.g., premium pricing), your location, your menu, and the promotional strategies (e.g., This means the bank is partially "insured" in case somebody is unable to repay them. The best way to do that is by conducting a restaurant feasibility study.

Document 393

Document Small Business Cash Management Take-out 393

EATER

DECEMBER 16, 2021

Despite the fact that the pandemic put all of these workers in grave danger while they were offered none of the unemployment insurance benefits given other workers, the gig companies were able to use expensive and sophisticated propaganda to confuse voters. Vianne recalled using DoorDash first. Go online ASAP to cash in!”

Back of House 364

Back of House Delivery Employee Relations Mobile Ordering 364

EATER

FEBRUARY 24, 2021

Many restaurants already had to buy heaters at inflated prices, given the increased demand as temperatures started dropping last fall. Filing an insurance claim — which requires a police report — can help make up for some of the lost income and stolen property cost. Marrow’s stolen property was valued at about $1,400.

Outdoor 284

Outdoor White Paper Back of House Insurance 284