How Hospitality Businesses Are Surviving the Pandemic
The hospitality industry, from restaurants and hotels to arts and entertainment venues and the many vendors and businesses that supply or work with these companies, has been hit particularly hard by the coronavirus pandemic. Too many businesses have…
September 22, 2020
Downsizing Your Business: An Opportunity to Focus on Core Competencies
Building a successful business means constantly reevaluating what does and doesn’t work. Weighing the effectiveness of your business structure, staffing, and marketing efforts, to name a few, helps you determine when changes are necessary to…
October 01, 2020
Hospitality Business Structures: What Is Best for Your Business?
Attention to detail is critical when you are starting or reorganizing a business. The legal structure you choose has broad impacts: it determines how taxes must be managed, how liability is allocated, and how your enterprise can be funded, to name a…
November 05, 2020
Pandemic Assistance for Restaurants in the Second COVID Relief Bill
A second COVID-19 relief bill recently passed by Congress and signed by President Trump will provide much-needed additional pandemic assistance for restaurants, though some believe the provisions of the new legislation fall short of what is needed.…
January 04, 2021
The Elements of a Franchise Agreement
As a hospitality business owner (or prospective owner), you must carefully weigh the advantages and disadvantages of entering into a franchise agreement with an established company versus building your own brand. If you choose the franchise path, it…
February 23, 2021
Restaurant COVID Solutions and Safety Measures: What Will We Keep?
The COVID-19 pandemic challenged the restaurant industry like nothing in recent memory, yet many business owners, operators, and staff rose to the challenge with grit and innovation. Some of the restaurant COVID solutions that were adopted to keep…
May 25, 2021
Bitcoin and Blockchain for Restaurants
Owners and operators of restaurants and other businesses in the food service industry should educate themselves regarding the possibilities around the use of Bitcoin, other cryptocurrencies, and blockchain for restaurants and food supply.…
October 20, 2021
Idiosyncrasies in Restaurant Valuation
Restaurant owners invest significant time, energy, and money in the establishment, maintenance, and growth of their businesses, often forming a personal, emotional connection to the endeavor. When the time comes to determine the value of a…
February 01, 2022
A Federal Ban on Non-Compete Agreements May Be Coming
Non-compete agreements are provisions found in employment contracts that restrict an employee’s actions after leaving that employer. Covenants not to compete are regularly disputed, and states have struggled to balance an employer’s…
February 08, 2022