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Golden Corral's August 2023 network breach affected 183,000 current and former employees, with hackers accessing everything from Social Security numbers to health insurance details. Yet many restaurant operators remain underprepared when it comes to integrating legal and insurance considerations into their cybersecurity response plans.
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?
Benefits and Protections Full-time employees are often entitled to benefits such as health insurance, paid leave and retirement plans, whereas part-time and temporary employees may not be. Independent Contractors Independent contractors operate their own businesses, control how and when they perform their tasks, and handle their own taxes.
With the right combination of technology and training, hospitality operators can protect themselves while also remaining compliant, even on one of the busiest nights of the year. AI is raising the bar for fake ID detection Artificial intelligence and easy accessibility online have altered fake IDs into highly convincing, scannable documents.
Serving alcohol is a fundamental part of many restaurant operations, but it also presents significant liability risks. At All Solutions Insurance, we saw a recent claim in which a restaurant faced a multi-million-dollar lawsuit after over-serving a guest who later caused a fatal car accident.
A new year is creeping up on us again, bringing fresh opportunities—and challenges—for restaurant operators. Simplify Health Insurance Open Enrollment Health insurance is one of the most valuable benefits you offer, so make open enrollment a central, streamlined year-end activity.
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. Document Everything. Gather Your Complete Insurance Policy.
As the restaurant industry continues to evolve in 2025, effective legal strategies are more important than ever for operators aiming to grow and scale their businesses properly. A strong structure built on a legal framework will guide your brand to grow thoughtfully, efficiently and without operational setbacks.
Even experienced operators know that navigating the compliance requirements laid out by each state’s franchise registration rules isn’t easy. Just as challenging is keeping on top of federally mandated franchise disclosures contained in the Franchise Disclosure Documents (FDD). Risk and insurance should be top on the list.
In that case, there may not be any insurance outside the driver’s personal auto insurance. If you’re contracting with a third-party delivery service, let your insurance agent know. Your agent can review the contract to determine what types of insurance you may need to protect your restaurant.
The public health crisis and swift economic downturn caused by COVID-19, of course, have compounded the complexity of operating a restaurant and complying with the myriad and evolving federal, state, and local guidelines and orders designed to mitigate the health risks of the COVID-19 pandemic. Why Compliance Matters.
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. Your restaurant’s plan for welcoming employees back should follow objective criteria, focusing only on the abilities necessary for operations.
Now, as restrictions begin to loosen, and restaurants are slowly beginning to reopen, many are still operating at limited capacity. According to restaurant analysts and operators, about 75 percent of independent restaurants will not be able to reopen. This has without a doubt drastically limited profits for restaurant owners.
Society Insurance put together seven items restaurants should include in their sexual harassment policy. Every situation is unique so this section shouldn’t be too detailed, but rather cover the steps of addressing, documenting, and completing the procedure. Definition of Sexual Harassment in the Workplace.
It also requires money to open a restaurant and build it out, buy equipment and finance the operation until it reaches break-even. Company Overview : Describe the type of restaurant you operate, how your company is organized,and any accomplishments your restaurant has achieved to date. social media marketing ) you will employ.
At the same time, RTW plays a major role in controlling claim costs and the direct impact on insurance premiums. Documents for internal case management. Even if the employer can't fill an entire shift, shortened work schedules minimize the insurance program's wage replacement costs and speed up recovery time.
Communicate your hours In the event that you need to close up shop or limit your hours of operation, communicate your status to your customers. Whether it’s temporary due to staffing availability or you’re suspending operations for the foreseeable future, let your guests know.
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.
Stubbornly high interest rates also keep operators squeezed by the cost of money, both long-term debt and revolving credit lines. Another growing risk: nuclear verdicts over dram shop law violations, driving up the costs of liquor liability insurance. One of the impacts will be on employment practices liability insurance in 2024.
Consider rescheduling this work to before or after normal hours of operation. Cleaning subcontractors (or store employees if not subcontracted) should perform hourly visual inspections to identify any potential hazards and document these efforts. Require your subcontractors to be proactive in their contractual duties.
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. 2] More on this issue later. Share that you have enhanced protocols for sanitization.
High turnover not only disrupts business operations but also leads to increased costs and time spent on hiring and training new staff. This way, your staff has more control over their schedules without causing disruptions to your restaurant’s operations. With an average turnover rate of 79.6%
Regardless of size, restaurants, if operating at all, are offering incentives and discounts on take-away/delivery orders. The hospitality industry may attempt to mitigate its damages by invoking force majeure clauses in their loan documents or leases, if in fact such clauses are contained therein.
Did you know that payroll/labor makes up almost one-third of a restaurant's operating costs ? Here’s a few common options: A monthly pay cycle, which means operators only have to run payroll once per month. Health insurance plan opt-in forms. Deductions for benefits like health insurance, 401(k), dental, vision, etc.
Minimal supervision – such as a franchisor providing a franchisee general instructions relating to day-to-day operations or tasks to complete – would not amount to the level of supervision/control required for a finding of joint employer status. i.e. selecting health insurance plans and pension plans.
This document should specify discounts on each type of drug category – generic, brand named and specialty drugs, and their associated rebates. It’s also is not viable to carve Rx coverage out of a fully insured contract due to the lack of stop loss availability. Understand Your Costs.
Break down your introduction into these sections: A welcome letter from the manager/owner Your mission statement and vision How they’re an essential part of your operations An outline of the employee handbook and what they can expect Your introduction is a great opportunity to explain potential career growth within your restaurant.
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.
We are offering restaurateurs the opportunity to operate a second brand within their existing brick and mortar location, increasing their bottom line by also becoming a virtual kitchen owner.” .” “Today begins the independent restaurant revolution,” Robbie Earl elaborates. Contest Details.
Most insurance companies have denied claims from restaurant owners resulting from the COVID-19 pandemic. Business owners counterclaim they are entitled to benefits in Business Interruption Insurance policies that protect against lost income after a covered peril affects a policyowner. A third victory arrived when the U.S.
Are your existing standard operating procedures working as well as they could? Discuss all of the phases of the procedure: Investigation Resolutions Appeals Every situation is unique so this section shouldn’t be too detailed, but rather cover the steps of addressing, documenting, and completing the procedure. Look no further.
Health inspections are periodic check-ins by local officials to be certain a restaurant is running a safe operation for its guests. On a state-level, New York has this resource center with guidance and documentation on how to keep the restaurant safe and inspection-ready. Texas: Entire State , Inspection Report Document.
This document will outline your bar's concept, menu, marketing strategy, and financial projections. Setting up an LLC requires filing paperwork with your state government and drafting an operating agreement that outlines the LLC's rules and regulations. Creating a Bar Business Plan Want more clarity into your bar's concept?
Filing for Georgia Unemployment Insurance (UI) can be a complicated process leading to multiple questions from both the employer and the employee. In the event your security answers are not working, call the DOL and speak with an operator. Supporting Documents. By Colin Kopel. COVID-19-Individual-FAQs (1).
Healthcare costs: group healthcare benefits, insurance premiums, etc. They'll ask for your necessary information and relevant documents, and then they'll help you shop around for the best SBA 7(a) loan for your restaurant. times your restaurant's monthly payroll costs.
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. These documents provide insight into how well your restaurant has performed financially. Selling a restaurant can be a major decision for many reasons.
Whether you’re a seasoned operator or just getting started, understanding the numbers behind your business can mean the difference between breaking even and breaking records. In this guide, we’ll break down key accounting strategies and tools that help streamline operations and boost your bottom line in 2025.
While the city of Miami has allowed restaurants to operate their dining rooms at half capacity since May 27, this particular spot is remaining closed for dine-in service until its owners can offer their customers a more “on-brand” dining experience — meaning fun and easygoing — rather than a modified, cautious night out.
Did you know that payroll/labor makes up almost one-third of a restaurant's operating costs ? Here's a few common options: A monthly pay cycle , which means operators only have to run payroll once per month. RASI suggests operators run their payroll weekly rather than bi-weekly or monthly. Health insurance plan opt-in forms.
But there’s more to the process than just filing employee documents away and forgetting about them. In this article, we discuss the personnel file and necessary employee documents in detail and then give you tips and best practices to help you create the best recordkeeping system for your business. Table of contents. Medical file.
Interface issues can look like: Problems running off-cycle payrolls Hard-to-find reports and tax documents like W-2s Lots of manual data entry Too many features to learn Complications with onboarding employees Payroll isn’t a nice-to-have—it will always be a part of your responsibilities as a restaurant operator.
But with insights from dozens of operators who have navigated this maze, we’ve compiled the most helpful, strategic, and compliant approaches to selecting the best NAICS code for your operation. These codes are used in everything from registering your business to applying for grants, insurance, and government contracts.
Plus, organized record keeping makes compliance easier, ensuring you can quickly reference documents for law and tax purposes. 7shifts is also FDIC-insured , so you can feel confident knowing your deposits are backed by the full faith and credit of the United States Government. What are the requirements to use Tip Payouts?
A good one not only ensures that your employees are paid accurately and on time, but also plays a significant role in regulation compliance , operational efficiency, and team happiness. Document specific operational inefficiencies. Check compatibility with existing systems for smooth operation.
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