Robots in the restaurant industry

Robots have been a staple in the manufacturing industry since the 1930s. Today we are now seeing robots in the restaurant industry to quicken and perfect the food preparation phase, mostly in fast food restaurants. Don’t miss: Summary of 2020 Side Dish blogs These robots used in the restaurant industry are any machine able to …

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Summary of 2020 Side Dish blogs

This year has been a crazy one, to say the least, for most people in the restaurant industry. We thought our readers may enjoy a summary of all our 2020 Side Dish blogs in one place in the event you want to go back and re-read one of them. Don’t miss: COVID-19 Relief Act Webinar …

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Financial planning for restaurant owners

You’ve heard before that 80-90% of restaurants fail within the first year. That’s simply not true. In fact, according to research by Philip Stark at UC Berkeley the number is really 17% in the first year. This goes to show that the average restaurateur really knows their stuff. A lot of planning goes into starting …

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PPP, business meals and more – Key takeaways from new stimulus legislation

Last week the president signed into law the next COVID-related economic stimulus package, and many of it’s provisions will be especially helpful, or are even geared specifically towards assisting the restaurant industry. As many states go into a second phase of full or partial lockdowns with restrictions on indoor, or even outdoor dining, these provisions …

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New stimulus law adds to PPP program

On Sunday, December 27, President Trump signed the $900 billion relief package passed by Congress before Christmas into law. The act includes modifications to the current PPP loan provisions contained in the CARES Act and adds another round of PPP funding that we will call PPP2. The bill that was passed was over 5,000 pages …

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Latest on the PPP forgiveness process

The Paycheck Protection Program (PPP) was probably the biggest part of the CARES Act passed in late March. Since its passing, there have been never ending questions and changes from how to apply a loan to how to apply for forgiveness. This has been such an impactful piece of legislation that I will say that …

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Shifting expenses for year-end planning

As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. While many strategies exist, and tax planning should be highly customized to your individual situation, let’s broach one particular strategy: shifting expenses as a …

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Looking for a compensation package to attract and retain great employees?

Creating the right compensation and benefit strategy can be one of the most critical steps to ensuring any businesses lasting success.  In fact, in many cases the achievement of any business can often be determined by the strength of its key employees. A key employee plays a massive role in the organization and keeping those …

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Franchisor accounting for advertising funds

In addition to royalties, most franchisors will collect amounts from franchisees for brand marketing and advertising. Typically, these are set as a percentage of sales for each franchisee. The franchisor has control over the collection and the spending of the advertising funds, which should be used for the overall promotion of the restaurant brand that …

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