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Guest Blog: PPP Loan Forgiveness for Restaurants

Restaurant365

We have outlined answers to some frequently asked questions as it relates to the guidance currently in place: When does the 8 week forgiveness period begin? NOTE: As of June 3, 2020, both the House and Senate have passed the Paycheck Protection Program Flexibility Act of 2020.

Blog 142
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Improving Restaurant Inventory Management to Beat Rising Food Prices

Restaurant365

Restaurant inventory management plays a key role in overcoming rising food prices. For example, these common restaurant ingredients rose significantly in mid-December 2021 over the same period in 2020: Refined sugar – 31%. As the rising food cost trend continues, it’s time to tighten your inventory control. from a year ago.

Inventory 148
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2020 Labor & Wage Compliance Round-Up

Hot Schedules

2020 Labor & Wage Compliance Round-Up. J ust a few things happened in 2020 – an election, a pandemic, an economic shut down. The city of Seattle has increased employee payouts over wage and scheduling disputes from $26,000 in 2014 to almost $4 million in 2020. Tipped Employees. Minimum Wage Changes.

2020 78
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How to Set Up and Run a Ghost Kitchen for Your Restaurant Business

Restaurant365

The focus of this blog post is to help existing restaurants launch their own ghost kitchens. Statista’s latest data indicates that: Revenue in the online food delivery segment is projected to reach $26,527m in 2020. The market’s largest segment is restaurant-to-consumer delivery with a projected market volume of $15,631m in 2020.

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How to Handle Temporary Restaurant Closure during COVID-19

7 Shifts

Consider things like merchandise sales, inventory sales, or private cooking lessons. Can you give dine-in related employees other tasks to do that will benefit your business and ensure that they don’t lose their income? Social Distancing” and “Flatten the Curve” are more than buzz words of 2020.

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Flexible Covered Period and Expanded Allowable Expenses Makes Newest Round of PPP Funds More Advantageous for Restaurant Businesses

Restaurant365

You can apply for one of these new forgivable loans, even if you received a PPP loan in 2020. Additionally, businesses applying for a PPP loan can also apply for Employee Retention Tax Credits (ERTC), if the credits are not applicable to wages paid with forgiven PPP loan funds. Business must have fewer than 300 employees.

Insurance 148
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11 Restaurant Management Best Practices to Maximize Your Performance in 2021

Restaurant365

The year 2020 prompted enormous changes in the restaurant industry. Your cash flow may have been tight in 2020, so 2021 is the time to focus on your cash flow recovery and next steps. Your suppliers may have experienced fluctuations in prices for ingredients in 2020. Here are 11 tips to set yourself up for success in 2021.

2021 136