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Seven Questions Restaurants Should be Asking About Insurance Coverage

Modern Restaurant Management

If you are a caterer, you’ll face traditional restaurant risks like equipment breakdown and damage to your property; however, you may have a greater interest in coverage such as hired and non-owned vehicle insurance. If We Have an Opportunity for Curbside Dining, is that Space Considered our Premises?

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Inside the World of Hospitality and Leisure Accounting

Paper Chase Accountancy

Restaurants and Food Service: Including fine dining, fast casual, QSRs, cafes, and catering. Seasonal variations, maintenance for high-use facilities, entertainment licensing. This vast sector includes, but is not limited to: Hotels and Resorts: From boutique inns to sprawling luxury resorts.

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Restaurant Profit Margin: 7 Ways To Actually Make Your Operation More Profitable

SpotOn

This is all the income from your food and beverage sales, catering, branded merchandise, packaged goods, venue hire, etc. These include rent, utilities, licenses, equipment, repairs, credit card processing fees—anything that's not labor or COGS. Here are the speculated profit margins for each restaurant-type. Labor costs.

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Opening a Restaurant: Steps to Take and Common Pitfalls to Avoid

Modern Restaurant Management

Get Your Licenses in Order Starting a restaurant business involves registering with the authorities and procuring the relevant licenses. Ignoring these licenses and regulations might attract hefty penalties and fines, so make sure you’re aware of the local, state, and federal regulations before opening up for business.

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A Comprehensive Guide To Restaurant Profit Margins For All Restaurant Types

7 Shifts

Full-service restaurants Full-service restaurants offer a complete dining experience with table service. This type of restaurant can charge higher prices for their meals because of the full dining experience and quality service. However, they do have high startup costs due to the licenses and permits needed to operate.

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Restaurant Startup Ideas

The Restaurant Group

Here are indispensable tips you must consider: Define Your Restaurant’s Concept A restaurant concept is an overarching theme that serves as the foundation of your dining brand. Casual dining establishments offer moderately priced food with large menus that cater to different palates. Fine dining boasts luxurious experiences.

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How to Open a Bar: Comprehensive Guide on Starting a Bar

7 Shifts

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. Otherwise, you can end up losing money by setting up a barcade at an executive village where most people prefer wining and dining over drinking booze and letting loose.

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