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You have the idea for a great restaurant concept. You have the skill, passion, training and ability to deliver flawless execution of a delectable menu. Maybe most importantly, you have the connections to bring in the right people and capital to get yourself into the perfect piece of real estate. NOW WHAT, you silently ask yourself?

 

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Top tags: credit card processing  hotel insurance  opening a restaurant  restaurant accountant  restaurant insurance  unemployment insurance  #balancing operating cost  #Lending made easy  #loan  CTE  Education  First Job  OJT  reputable lender  Stateauto 

The Wally Difference

Posted By Lisa Graham, Wednesday, October 4, 2017

 

For Restaurants & Food Service

 

As a restaurateur, your inventory of food is one of your most valuable assets; yet few owners take action to protect it beyond the occasional inventory count and daily temperature checks. A broken refrigerator or an open freezer door can end up costing thousands of dollars in spoiled food along with foregone revenues and profits.

To help business owners protect their assets, KRHA and State Auto Insurance are offering a program with Wally, a smart technology company, to provide members with exclusive offers on products that monitor your food storage and will alert you of potential problems. Even better, using Wally provides the opportunity to take advantage of potential special policy discounts! Learn more below!

What is Wally?
Wally is a complete water, temperature, and humidity monitoring solution that instantly informs you of potentially hazardous changes to an indoor environment—including changes in temperature and humidity, left open doors and windows, frozen pipes or water leaks—through local and mobile alerts delivered directly to you and your preferred contacts. Wally uses small wireless sensors inside food storage units that communicate back to a central hub connected to your internet through WiFi or Ethernet. Wally is simple to install and requires no monthly fees!

Wally is Smart Technology to Better Monitor Your Business

Sensors monitor the area and notify selected contacts via text, email and/or phone call when temperature and humidity levels leave a desired range, doors are left open or a water leak is detected. This early warning will allow you to take action and investigate a potential issue before a serious loss occurs.

Your Exclusive KRHA Membership Offer
As a KRHA member, and State Auto policy holder you can purchase a Wally bundle with five total sensors for less than the regular MSRP pricing! In addition, when you purchase this Wally bundle you may be eligible for discounts on select State Auto Commercial insurance policy premiums!

To receive your exclusive product and potential policy discount, or to learn more about Wally, please click on the button below to contact the KRHA. You can also contact your local State Auto agent or visit the Wally website at www.wallyhome.com.

 

 

Tags:  Stateauto 

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Lending Made Easy: Secure More Dough to get Back to Your Bread and Butter

Posted By Lisa Graham, Tuesday, June 20, 2017

Balancing your everyday operating costs while investing in expenses to grow your business doesn’t have to feel like juggling hot plates. While a small business loan may seem daunting, it’s often the best way to boost your bottom line. Here are a few reasons you may consider a loan:

 

  • Expansion – Is business booming out your front door? If you need a bigger space or need to hire more employees or fresh talent to keep up, a loan can help you cover the cost of expanding without wiping out your operating budget.
  •  Equipment – Is your equipment wearing out while your business is finally ramping up? A loan can make purchasing or updating outdated technology or equipment a reality.
  • Inventory – You already know you have to invest in high-quality products to be able to meet customer demand. A loan can help you keep up with ever-changing trends.
  • Working capital – Cash flow for basic operational needs can be a challenge for restaurant owners. A loan can provide a safety net to keep business afloat during off-peak seasons when profits may suffer.

 

If you think a loan may be right for you, the next step should be evaluating the right loan partner. Small business owners face multiple hurdles securing loans. In fact, only about one in five business that apply for a loan from a big bank are approved. However, that doesn’t mean you should take the first offer that comes along.

 

It’s important to find a reputable lender with transparent terms and rates. Be sure they’ve worked with businesses the size of yours before, don’t be afraid to ask for referrals, and most importantly, be sure the lender is invested in your success.

 

Here are a few loan pricing pitfalls to avoid:

  • Analyze your project to be sure your profits will exceed the total cost of the loan.
  • Be sure the true cost of the offer and repayment terms aren’t hidden. Many lenders may even modify the terms of the loan midstream.
  • Time is money. Look for quick approvals and faster funding, but be sure not to trade it for higher financing costs.
  • Watch out for quick money with hefty fees.

 

Whatever direction you decide to go, make sure you understand every aspect of the deal. As long as you work with a reputable, trusted partner, you’ll uncover the best option to fit your vision.

 

OPTIONAL SIDE BARS

 

Heartland Can Help Heartland partners with a number of reputable lenders who offer the best lending solutions on the market to get you the funds you need, in as little as one day, at the most reasonable rates possible – as low as 8 percent. If your business accepts credit cards, your payments are withheld automatically over the course of the loan period making repayment as easy as pie.

 

Call 855.861.8181 to get started today or contact Angela Ihry, 605.940.9861, angele.ihry@e-hps.com

 

We encourage you to contact a KRHA Allied partner if you have specific questions regarding this topic. 

 

Heartland Payment Systems

Angela Ihry

605.940.9861

angele.ihry@e-hps.com

www.heartlandpaymentsystems.com

 

Tags:  #balancing operating cost  #Lending made easy  #loan  reputable lender 

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Kickstarting Careers

Posted By Adam Mills, Wednesday, April 12, 2017

 

 

The restaurant and hospitality industry is known for its role in providing many Americans their first job.  While most people think of school when they think of education, it’s hard to top the value provided by “OJT”, on the job training.  One in 3 working adults starts off working in restaurants and hotels.  Even if this isn’t top of mind for most people, it probably wouldn’t surprise anyone.  Here are a couple of interesting facts that will cause you to stop and take notice.  Nine out of 10 restaurant workers age 35 or older have been promoted to higher-paying managerial or supervisory jobs after taking their first job in industry.   Among young adults, age 18 to 24, 71% land a more lucrative job inside their respective hospitality-based company after spending time in an entry level position.  Looking at these statistics you can see the true value provided by these restaurant jobs.  The buzz these days is that employers need to do more to provide a pathway to the middle class; well that’s exactly what hospitality industry job creators are doing!

 

We all know that careers can also be kick-started in the classroom, the KRHA/NRA ProStart program is doing its part by helping get high school kids on a career path to our industry.   These programs are not only shaping the advancement of our industry but are also instilling an education base and awareness for many.  A recent Gallup-Lumina Foundation poll says 80% of students in Career & Tech Ed (CTE) programs, like ProStart, meet college and career readiness standards and are 15% more likely to graduate high school.  

 

Next time someone is wondering what our industry is doing for America.  Simply reply, besides collecting sales taxes and rescuing to a starving economy.  We are busy educating our youth with CTE in High Schools, providing OJT career training to 1 in 3 adults, and opening all kinds of career paths to higher wages for a growing workforce.

 

With the NCAA national basketball tournament having just wrapped up, I’ll leave you with this classic from Al McGuire, a famous basketball coach at Marquette University who won a National Championship in 1977.   “I think everyone should go to college and get a degree and then spend six months as a bartender and six months as a cabdriver. Then they would really be educated.”  I agree Al!

 

Empowering a Thriving Hospitality Industry in Kansas!

 

Tags:  CTE  Education  First Job  OJT 

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Is Building a Better Business a Priority in 2017?

Posted By Adam Mills, Wednesday, January 25, 2017

 

A close friend of mine in the business recently hired a contract consultant to look into several areas in order to better operate their business.  In today’s business environment it’s necessary to turn over every rock to find savings and take a hard look into operations to ensure your business practices are compliant.  Here is a quick rundown of the consultant’s findings:

 

   Found tax savings by eliminating the sales tax on utilities including a 3 year look back credit of overpayment.  $2,500 back to the business

   Looked at all Insurances to ensure they were adequate and shopped to find best program and pricing.  Saving $2,000. Also found missing necessary coverages that could have been a major loss to the business.  This could have represented additional savings of thousands had it not been identified until after a loss.  Finding the missing coverage was worth more than all the found savings put together.

   Found several areas of non-compliance in their HR practices, including a need to rewrite their employee manual. Consultant offered an inexpensive service to handle all HR needs of the business, including handling all of their Unemployment claims, pre and post-termination.  The total cost of employee manual rewrite and full-time HR consulting, $400 per year.  Saving $1,000’s in potential violations and lost UI hearings.

   Noted that while many of the employees were getting their food safety certification, they weren’t taking advantage of discounts available to them.  Savings of $300.

   The consultant looked through the various opportunities gained by recent changes in the law and other missed opportunities; recommending the following:

  • Have happy hour focusing on one signature beer, wine or mixed drink each day and pairing with an appetizer from 4:00 PM to 6:00 PM.
  • Offer a sample size of the beer of the day, preferably a microbrew.
  • Display the food safety certificates for public and health inspectors to see, demonstrating a commitment to food safety excellence.

   The consultant set up multiple opportunities to network with other owners and operators to share industry knowledge and information.

   The consultant provided webinars for viewing either live or on demand on a variety of topics including marketing using social media, changes in Overtime Law, and ACA compliance.  Not only that but a large catalog of informational articles pertaining to Frequently Asked Questions that owner/operators have.

   Due to their knowledge of industry needs, the consultant also discussed the need for meeting on a regular basis with regulatory departments including the KS Department of labor, KS Department of Revenue including Alcohol Beverage Control Director and staff, KS Department of Agriculture regarding food inspections.

   The consultant also agreed to be available to answer questions and provide resources dedicated to problems the business having as it relates to industry needs.

 

This consultant put $5,000 back in my friend’s pocket and saved him at minimum $25,000 in potential losses, fines, etc.   What do you think the cost would be to hire a consultant like this?  

Open up your checkbook and see how much you paid in dues to KRHA last year, we are that consultant.  If someone isn’t a member today, it’s less than the cost of a beverage per day. 

 

Tags:  credit card processing  hotel insurance  opening a restaurant  restaurant accountant  restaurant insurance  unemployment insurance 

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5 Essential Services Needed to Open a Restaurant

Posted By Adam Mills, Tuesday, November 22, 2016
Updated: Tuesday, December 27, 2016
 

  

You have the idea for a great restaurant concept. You have the skill, passion, training and ability to deliver flawless execution of a delectable menu.   Maybe most importantly, you have the connections to bring in the right people and capital to get yourself into the perfect piece of real estate.   NOW WHAT, you silently ask yourself?

 

Allow KRHA to be of service to you!  Here are 5 member benefits and services that are either necessary or will play a vital role in your success.

 

  1. Business Insurance- Since 1990, KRHA has been helping restaurant and other hospitality based business owners with insurance solutions.  Contact our in-house insurance agency, Hospitality Insurance Services.  We’ll give you a thorough evaluation of your current insurance needs and recommend the necessary coverages.  With our non-profit, member-owned Self Insurance Fund for Work Comp, KRHASIF, we are offering the lowest cost insurance for restaurants, hotels, and other hospitality businesses.  On average, we have been reducing members cost on insurance by 20%.  If you are opening a new concept or looking to make a change, give us a call. 

  2.  Credit Card Processing- In today’s world, it’s difficult, if not impossible, to operate a top notch restaurant without accepting credit cards.  The trick is to find the best service for the lowest price.  KRHA has a strategic partnership with Heartland Payment Systems to ensure that our members are getting transparent cost + pricing with a 3 yr rate lock guarantee, 24/7 support, and discounts on related services like gift card marketing and tip management services.  When our members do business with Heartland they have an advocate who is looking after their best interests in a very competitive environment.

  3. Find a great accountant!-  I’m sure you could use Google to and find an accounting firm to help you through the tax rules, stay on top of your cash flow, help you create and stick to a financial plan and budget etc….but why take a chance on a random name or firm.  KRHA Allied partner, Mize Houser & Company P.A. has a whole division dedicated to Hospitality Business.  They know all the details involved in keeping your business in compliance with the Department of Labor and the IRS.  Not only that, they are committed to being a sponsor to KRHA and give their time and talent to keep you informed through member communication pieces.

  4. Managing Human Resources- One thing we know about running any small business is there will be turnover in your employee base.  KRHA has partnered with Unemployment Insurance Services to provide your business proactive representation that begins prior to an unemployment claim being made.  Their system will help your business create an employee history that keeps relevant HR issues in mind so you are in compliance.  With a better than 90% success rate in protesting claims through the hearing process, they save your business $1000’s for mere pennies on the dollar in investment.

  5. Know what’s going on in the industry, not just in your business.  Being an active and engaged member of KRHA helps you stay on top of valuable information that can impact your operation.  Give yourself at least 5 minutes a day to become knowledgeable about your industry by plugging in with us via social media. 

 KansasRestaurant

 KSRestaurant

 Kansas Restaurant and Hospitality Association

 

At KRHA, we focus resources on the challenges that exist for industry and then leverage the collective membership to provide solutions.     Aristotle said, “Where your talents and the needs of the world cross, there lies your purpose.” Our purpose is to Empower a Thriving Hospitality Industry in Kansas!

 

All the best to you as you set your sights on your piece of the American Dream!

 

 

Tags:  credit card processing  hotel insurance  opening a restaurant  restaurant accountant  restaurant insurance  unemployment insurance 

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