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Brands (owner of KFC, Taco Bell, and Pizza Hut) suffered a ransomware attack that forced the closure of approximately 300 restaurants in the UK and exposed personal information of hundreds of thousands of employees. This committee can ensure that legal compliance and insurance requirements are built into everyday operations.
After weathering years of pandemic-related challenges, the sector continues to rebound with optimism. While corporate travel is expected to pick up, helping offset a predicted slowdown in leisure spending, the broader hospitality sector must grapple with economic and operational risks.
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?
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. Update Your Employee Handbook Your employee handbook sets the tone for your culture by establishing expectations and aligning your team toward a common goal and vision.
Understanding whether your staff are employees or independent contractors isn’t just about following the rules—it’s key to maintaining a fair, compliant and smoothly running establishment. Employees classified as exempt from overtime must meet specific criteria, such as executive or administrative duties.
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 Restaurant Insurance Needs. Property Insurance.
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.
These include: Food Costs Labor Costs Occupancy Costs Operating Costs Marketing and Promotions Expenses Every successful restaurant owner knows that tracking these isnt just a bookkeeping exercise; its how you spot opportunities to save money, collect data for better decision making, and run more efficiently.
All of them have asked us for help in saving their businesses and helping their employees. 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.
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.
While our team is extremely excited about seeing each other in person, as a business owner, it‘s my responsibility to ensure we’re being safe, following appropriate CDC guidelines, and making the best decisions to protect our employees. Further, the Rockefeller Foundation found that 44 percent of 1,339 U.S.
Restaurant and business owners should always be prepared in the event of loss or damage to normal business operations. Navigating these policies and their intricacies is a daunting task, even for some experts in the insurance industry.
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. The return of a more regular dining experience signals an encouraging step forward for owners and employees alike, however, caution is necessary.
A former employee filed a class-action lawsuit against Panera, following a data breach earlier this year. The suit claims that Panera is to blame for the breach, which exposed employees’ personal information, including Social Security numbers. What can restaurant operators learn from this experience?
Cybercriminals are increasingly targeting restaurants, seeking to steal sensitive customer data and disrupt business operations. That's why it's essential for restaurants to consider cyber liability insurance. With cyber liability insurance, the costs of hiring attorneys and other legal expenses can be covered.
With the laundry list of everything bar and restaurant owners need to handle on a daily basis, proper insurance coverage should be top priority. Proper communication with the insurance agent about all the ins and outs of the restaurant can help set up the policy right from the get-go.
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. Obtain Liquor Liability Insurance. 31 and beyond.
These virtual brands have allowed restaurants to hone in on hot niche trends (anything chicken related, typically) with consumers. The carryout-only brand of It’s Just Wings, operating out of Chili’s kitchens. In this changing environment, the right and adequate amount of insurance protection has never been more important.
Data from the National Restaurant Association’s 2023 State of the Restaurant Industry report revealed that nearly three in four operators were focused on sustaining growth. That won’t cut it in an industry that faces major risks associated with employee injuries and food safety.
Consider PPP loan insurance to cover damages, legal fees and fines if the SBA determines that your business was ineligible for the loan. Chang’s won PPP exemptions to bridge their operations until they open their doors open once again. Have 500 or fewer employees, taking into account any and all affiliates.
” The Association proposed three separate categories of protection for industry restaurants and employees: directed/targeted financial relief; loans/insurance options for impacted small businesses; and tax measures. Loans/Insurance Options for Impacted Small Businesses. Federal Loan Program Equal to Lost Revenue.
Some staggering statistics on the restaurant industry during this pandemic include: Restaurants, on average, laid off 91 percent of their hourly workforce and 70 percent of salaried employees due to COVID-19 related closures ( James Beard Foundation ). Covered Period. Reductions in Average Full-Time Equivalency.
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?
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. Implement comprehensive standard operating procedures and policies.
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. To be added to this guide, reach out to Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. and Canada.
For over 60 years, there had been no meaningful updates regarding joint employer status, leaving many franchisors and similarly situated parties wondering – is my entity liable as a joint employer for my franchisee’s/affiliate’s acts relating to employees? Determination of employee’s rate and method of payment.
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.
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. Let the public see that you care about their safety and that of your employees.
Restaurant owners must consider risks like increased insurance costs and potential wear and tear from extensive use if they opt to use a personal vehicle. If you purchase or lease dedicated delivery vehicles, consider additional expenses such as maintenance, insurance, and fuel.
Lack of health insurance isn’t considered one of the major reasons the hospitality industry has, according to the U.S. ” To me, that says employees aren’t feeling valued by the owners and managers of their restaurants. Many of the employees tell me that they appreciate that mental health is covered as well.
In today's workplace, the significance of addressing employee mental health has become increasingly crucial. The well-being of employees directly impacts their productivity, engagement, and overall satisfaction. Offering Mental Health Benefits To support employee mental health, employers can offer a range of mental health benefits.
I think it is very important for business owners, in general, to make a statement that our employees matter and so does their voice,” said Hunter Evans, Chef, at Elvie’s in Jackson, Mississippi. Interviews range from baristas and servers to operations managers. ” Hunter Evans. We often have meditation before service.
Court of Appeals for the District of Columbia dismissed an appeal by the operator of the &pizza restaurant chain in the United States against a copycat restaurant based in Scotland. Full-service restaurants are exempt from this law if employees sort organic waste. commerce that violated the Lanham Act. Legislation.
Depending on what kind of hardware and POS system a restaurant is using, each delivery app may require a unique and intensive process to integrate it with current operations. The point isn’t just to keep a higher percentage but also to curtail operational expenses. The critical factor, operators should know, is scalability.
Demand is surging and finding employees has become almost impossible. Simply caving into wage inflation usually turns into a permanent adjustment, so employers are looking for creative methods to attract employees. All employees have cellphones, tablets and TV’s. Circumstances change rapidly in the restaurant sector.
Mission critical elements of operational agility and what they ‘mean’ for individual restaurant, food service and hospitality businesses, and the industry at large, in the post-pandemic era. Below, are a few observations on some of the hard lessons learned amid the pandemic and offers some strategies in relation.
In many cases, an injured employee will have a right to compensation. This is why you pay into your state’s workers’ compensation fund or self-insurance. This means that your employees can’t put in a claim for something that’s unrelated to work. The employee was injured while violating company policy.
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.
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.
The words ‘employee handbook’ are enough to make any new hire quiver. Having to spend a shift—or even worse, your after-hours—reading through an employee handbook will sap the fun out of any new restaurant job. The introduction to your restaurant employee handbook Think of your employee handbook as a welcome to your restaurant.
Connecting with the consumer through loyalty programs and better customer data is a key focus for operators – more than seven in ten restaurant leaders (71 percent) are planning to increase investment in their loyalty or reward programs to keep customers close over the next 12 months. ” A Year of Challenges U.S.
Numbers can give us insights into everything from profits and losses to average customer spend to how often employees cycle through. Employee turnover rate. Labor cost includes all labor-related categories: Employees, both hourly wages and salaries. To operate a healthy business, this number should not exceed 70%.
In 2018, the efforts of unions and worker organizations led to the Supreme Court of California issuing a landmark decision in the case Dynamex Operations West, Inc. Dynamex stated that most workers are employees and that any company seeking to classify a worker as an independent contractor must meet a stringent burden of proof to do so.
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