Streetwise Restaurant Management by John James & Dan Baldwin

Author:John James & Dan Baldwin
Language: eng
Format: epub
Tags: ebook, book
Publisher: Adams Media, an imprint of Simon & Schuster, Inc.
Published: 2003-07-15T00:00:00+00:00

For Liability Insurance

Liability is particularly important for a restaurant. General liability provides protection if a patron, guest, or visitor is injured on your property. Product liability covers you in the event that someone becomes ill after eating in your restaurant. Liquor liability provides coverage in cases where an inebriated patron causes an accident or commits a crime after leaving your establishment. The cost of liquor liability will depend upon the amount of liquor business you do. The more bar business you have, the greater the risk and the higher the premiums.

For Auto Insurance

Auto/truck insurance will protect you should an employee have an accident while making a pick-up or delivery.

For Theft Insurance

Theft insurance is important because there are so many opportunities for thievery in a restaurant. Money, inventory, even smallwares can be “pocketed” and taken away quite easily. Restaurant equipment is often a valuable commodity on the black market. Even your supplies can be targeted. Ask about obtaining a fidelity bond to cover losses from employee theft.

For Business Interruption Insurance

Business interruption insurance protects you from the loss of business revenues. For example, after the tornado rips through your facility, you won’t be able to conduct business until you rebuild, yet your expenses, such as the mortgage or equipment rentals, continue.

Marketing, Media, and Public Relations

In addition to the four core support areas, you’ll likely need some help with marketing, media, and public relations. Choosing professionals in marketing and the related fields is a matter of your own personal expertise or the expertise of an employee, your available time, and your budget.

Media salespeople can certainly provide valuable information, suggestions, promotions, and even help with production of your ads or spots. Of course, these folks are salespeople and quite naturally will promote their own media above the competition. There’s nothing wrong with that. It’s just a factor to add into your equations.

Using an Outside Firm

Professional marketing, advertising, public relations, and design firms are an option, but they can be expensive. It’s not essential that the firm have restaurant or club experience, but it is very helpful if they do. Previous experience can really shorten the learning curve. Make sure that any professional or professional firm you hire sees your restaurant’s concept just the way you see it. Randy hired a top designer to create a logo for one of his restaurants. It was beautiful and very professional. Unfortunately, it looked “expensive,” which meant that people thought the restaurant was expensive, too. It wasn’t, but a lot of people never discovered that fact because they never walked into the door. As with all your professional

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