Navigating Bank Failures in Your Restaurant Business Right Now
Memorial Day just happened this week. The unofficial start of summer. I like to remember that when things are unpredictable and even a bit hairy (like a shifty economy, bank failures, debt ceiling crisis), normal life still goes on. People will still prepped their grills. They’ll whipped up their mom’s potato salad recipe. Celebrations with […]
How the Bank Crisis Affects Restaurant Business Owners
Now, I know that I recently started talking about the new FinCEN reporting requirement and promised a part two… which I’ll absolutely get to in an upcoming blog. But this time I wanted to take the opportunity to speak about the banking “crisis” that has a lot of Restaurant business owners frantically deciding how (and […]
New FinCEN Reporting Requirement for Restaurant Businesses
We’ve been watching the unfolding banking “crisis” closely and evaluating what it means for our economy moving forward. Yes, seeing (numerous) banks fail can be unnerving, especially when the economy seems to also be careening toward a recession. The media, of course, is aware of this feeling of unsettledness and is financially motivated to make […]
Sernett’s Best Practices for Terminating an Employee
We’ve all got a bit of FOMO about FOMC’s (Federal Open Market Committee’s) big meeting this week, waiting to see if yet another interest rate hike will be coming. Most indicators say likely. Since March 2022, there have been NINE such increases to interest rates all in an effort to deter a recession, which the […]
Smart Pricing Tactics for Restaurant Businesses Right Now
Before I dive into those smart pricing tactics your business will want to implement right now, let’s revisit something I wrote about last week: planning for a Q1 analysis. Have you jumped on it yet? If you haven’t, let me just say, how well your 2023 shapes up could be determined by doing this one […]
Leadership Development in Your Restaurant Business
Unless you’ve been living in a cave like this woman, you know that business ownership is a tough gig right now — it’s nearly an Olympic sport to keep things running and moving ahead. But, despite all that, being a business owner is also pretty great. And I’d make a guess that a big part […]
Prioritizing Employee Wellness in Your Restaurant Business
It’s a bit of a dog-eat-dog world for businesses these days. (Feel that sentiment in your bones?) Inflation is pervasive. Supply chain issues still have you jumping through hoops to get products. The hunt continues for good help… proving the adage. Covid-era debts now have to be repaid. Taxation is amping up. And there’s more […]
Making a Plan to Reskill and Upskill Your Staff
Well, here we are — just like that, we find ourselves already a quarter of the way through 2023. While people everywhere are breaking out the deep cleaning sprays and scrub brushes to get a little springtime sparkle, you might want to be thinking about a similar process for your Restaurant business. You know, while […]
What Restaurant Employers Should Know About Employee Satisfaction
It happened: Silicon Valley Bank sold. Well, at least part of it. The bank’s deposits, loans, and 17 branches — scheduled to reopen this week — were snagged by First Citizens BancShares, a Raleigh-based bank. (About $90 billion of assets still remain with the Federal Deposit Insurance Corporation.) The hope is that this sale will […]
The Why & How of Business Referrals for Restaurant Owners
Firstly, before I jump into what business referrals could mean for your Restaurant business, I wanted you to see this. Even though I don’t normally talk about tax stuff … the explosion of shady flim-flammers gaming the Employee Retention Credit and making questionable claims on behalf of business owners is raising all kinds of red flags […]