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In today's digital landscape, restaurants have become prime targets for cybercriminals who take advantage of potential entry points from point-of-sale systems, online ordering platforms, customer databases, loyalty programs and third-party delivery services. Consider the alarming pattern over the past three years.
While maybe less cute than National Pet Day (4/11) and less tasty than National Cheeseburger Day (9/18), National Insurance Day on June 28 encourages businesses to shop around for the BEST insurance partner to ensure financial success and safety for all involved. What Kinds of Coverage are Unique to the Risks Restaurants Face?
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.
Running a restaurant is tough. The good news is that there are tax deductions and credits made for restaurants and owners that can ease the burden. Essential Restaurant Tax Deductions 1. A restaurant POS system like SkyTab, though, has no upfront cost, just $29 per month. Staff pay: salaries, insurance, bonuses.
In this article, you will learn: The five most important restaurant costs to track and manage Easy strategies for controlling food costs and labor costs Tactics to save money without hurting your guest experience Lets start with the big picture and learn where your money is actually going. Are you overstaffed on slow days?
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
See how restaurant bookkeeping fits into broader hospitality accounting practices. Restaurants and Food Service: Including fine dining, fast casual, QSRs, cafes, and catering. Fluctuating Occupancy/Demand: For hotels, occupancy rates directly impact revenue, while for restaurants, daily covers drive sales. FICA tip credit).
At an event in Brazil, Executive Director Vanusia Nogueira said that as new plantations, spurred by record-high prices, start producing, global output could improve over the next three years; however, the outlook depends on whether market conditions remain favourable enough for producers.
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 as the result of a dispute in a restaurant parking lot, because of food safety issues, or even for reasons that exist outside the restaurant industry.
Things that go bump in the night for restaurant owners look a lot different than for the average Joe and Jane. Ahead of Halloween and spooky season, Society Insurance explores some of the scary factors, some more rare and some more common, that can affect premium rates. Insurers spread the risk through reinsurance.
Missouri saw the most significant increase in major hail events in the country, a 182-percent rise between 2022 and 2024.) While you can’t predict the unexpected, restaurant owners can better prepare themselves with preventive measures against these dangerous storms.
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.
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.
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.
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.
On March 3, Columbus canceled the Arnold Sports Festival, one of the largest events of the year for the city. Stories like ours played out in restaurants across the country over the next few weeks. As the anxiety around the virus and the general state of the nation permeated everything, restaurants across the U.S.
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.
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 restaurant operators do to add to their bottom line, create cost savings and generate brand awareness? Quality Control, Legal and Insurance. Find a Co-Packer to Manufacture.
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. What may be overlooked within it are risk and insurance issues. Risk and insurance should be top on the list. And there’s a lot of value to that.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the rise of eCommerce, economic impact, dining during COVID and hot dog insights. Key findings for the restaurant industry include: Restaurant Closures Data. Key findings for the restaurant industry include: Restaurant Closures Data.
Society Insurance recommends contacting your local “call before you dig” hotline before driving stakes in the ground to prevent any utility line damage. It is recommended to monitor weather forecasts and have an appropriate plan in place to respond to forecasted weather events.
So they decided to open their own restaurant hangout spot. One that reflected each of the owners and their idea of the perfect restaurant to relax, socialize, and eat. Before joining Hyperion, Teddy owned his own business, and had never worked in the restaurant industry. I decided to follow my dreams." I worked my way up.
over the past decade, keeping employees in restaurants has become increasingly difficult. However, attracting high-quality restaurant employees goes beyond just filling open positions. Some restaurant staff may prefer fewer hours to accommodate school or family, while others might be looking for full-time work with a steady income.
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.
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. Renting Your Restaurant Premises.
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. The National Restaurant Association has provided a list of best practices to ensure business continuity.
We don't have to tell you that the restaurant industry has a turnover problem. Restaurants are a transitional industry for many—but many of the reasons that workers quit are entirely preventable. 8 Reasons Why Restaurant Workers Quit — And How To Prevent It. 7shifts Tip Pooling and Distribution Software for Restaurants.
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. And let’s be honest, when was the last time you read your own restaurant employee handbook? Restaurant Scheduling Software for managers that want to stay in control.
This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh.
Selling a restaurant can be a major decision for many reasons. 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. If restaurants in your area sell at a multiple of 2.5
However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. Zoning and health regulations: Get acquainted with your location's zoning laws to know what to do, what permits to get, and what laws to follow.
By Nick DiMatteo, Fortyfivegames Bar and restaurant owners are constantly seeking ways to stay ahead of the curve when it comes to attracting and maintaining their customer base. Additionally, the onus will be on owners to determine that their entertainment selections are in compliance with local laws and ordinances.
Turnover in restaurants is as high as ever. Labor shortages, health crises, and general economic trends have made it a struggle — and restaurants need help. But we're at an inflection point in the restaurant industry. It's not enough to just pay more than the restaurant next door. Restaurant Retention Data Study.
hour, restaurant operators are starting to think about how they will adjust their businesses to a $15 restaurant minimum wage. and provinces in Canada) have already increased their restaurant minimum wage and tipped minimum wage in the past few years. Will the Rising Restaurant Minimum Wage Affect Me? In the U.S.,
The catering industry includes companies that provide individual event-based food services. Some examples of events catered by industry establishments are graduation parties, wedding receptions, housewarming parties, business/corporate luncheons, etc. . Get Insured. General insurance . Commercial automotive insurance .
Running a restaurant is tough. The good news is that there are tax deductions and credits made for restaurants and owners that can ease the burden. Essential Restaurant Tax Deductions 1. A restaurant POS system like SkyTab, though, has no upfront cost, just $29 per month. Staff pay: salaries, insurance, bonuses.
Running a restaurant is tough. The good news is that there are tax deductions and credits made for restaurants and owners that can ease the burden. Essential Restaurant Tax Deductions 1. A restaurant POS system like SkyTab, though, has no upfront cost, just $29 per month. Staff pay: salaries, insurance, bonuses.
Opening a restaurant can be challenging. Therefore, you need to familiarize yourself with the different restaurant licenses required to open a restaurant in the UK and how to obtain them. . prevention of crime and disorder in the restaurant premises. 7 Restaurant Licenses To Open A Restaurant In UK.
After all, they let you change sites, keep menus short and focused, and create an exciting and dynamic small company on wheels since they are smaller and most importantly mobile, unlike a restaurant. Moreover, since the COVID-19 pandemic, many customers prefer to eat from food trucks rather than restaurants as they are relatively safer.
Most restaurants need funding, especially during the initial stages when they’re setting up. The purpose of this guide is to help you with all the ins and outs of funding a restaurant with top tips from those who have been there, seen it, and done it. What makes someone a good Investor?
The startup costs are lower than what you’d have to shell out to open a brick-and-mortar restaurant, and as the world continues to grapple with the COVID-19 pandemic, food trucks offer both a safe dining option for your guests and a reliable income source for you. Purchase, Insure, and Outfit Your Food Truck.
Not agonizing over your restaurant's food cost percentage. Added service fees, health ordinance fees, and gratuity-included menus are now common as restaurants are looking for ways to appease their guests and keep menu prices low. Working in the restaurant industry means running a business. When does it all break?
The business structure choose will affect the following aspects of a restaurant: The amount of taxes you will pay. The extent to which you and your partners/investors are held personally responsible for debt incurred by your restaurant (liability). If a restaurant is a corporation and it fails, everyone who. Corporations.
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