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2022 Restaurant Insurance Update

Modern Restaurant Management

Even with robust growth, the restaurant industry faces steep challenges right now, with labor shortages, higher inflation, challenges with home food and drink deliveries, and ongoing food and supply chain shortages. What are the big insurance issues impacting restaurants going forward? Food Delivery Issues.

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2025 Restaurant Outlook: A Recipe for Success with Risk Management

Modern Restaurant Management

By mid-2024, 82 percent of food and beverage operators were still actively recruiting, with chefs and cooks comprising 30 percent of open roles. Outsourcing high-risk services, such as delivery, can alleviate exposure to rising auto insurance costs, which are projected to climb in 2025.

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Average Restaurant Profit Margins: What They Are And How to Improve Yours

ChowNow

A spike in food costs, a drop in sales volume, or one slow season can wipe out months of hard work. They tell you how much money your restaurant keeps after paying for everything from food costs to labor expenses to utilities and rent. came to $35,000, and your operating expenses (labor, rent, insurance, etc.)

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Leveraging POS Systems to Future-Proof Your Restaurant and Maximize Profits

Modern Restaurant Management

A fragmented supply chain is also increasing ingredient costs, leading restaurants to balance staff churn with a changing menu to keep revenue consistent. Monitoring Supply Can Curb Waste and Loss. Additionally, many restaurants are expanding to include traditional benefits such as health insurance and retirement savings plans.

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How Restaurants Can Plan For The Next Hospitality Crisis

Modern Restaurant Management

Some of the biggest risks that you’re likely to face as a restaurant owner include: Foodborne illnesses: food poisoning, contaminated water, and cross-contamination of cooking ingredients. For example, there should be someone who handles communication, supply chain issues, financial forecasting, etc.

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2021: A Year of Navigating Shortages

Modern Restaurant Management

Restaurants have faced labor shortages, supply and equipment shortages, and climbing food prices, with no past playbook on how to navigate the crisis. In fact, according to the National Restaurant Association, 95% of operators said their restaurant has experienced supply chain delays or shortages in recent months. Food Shortage.

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The Value of Joining Your State Restaurant Association

Goliath Consulting

For restaurant owners and operators, success depends on more than just great food and excellent serviceit requires staying informed, connected, and supported. Whether its labor laws, food safety regulations, or tax policies, these associations work to ensure fair legislation.