Great News for Restaurants as IRS Reaffirms Deductions for Entertaining

October 8, 2018 by Leave a Comment

“The Internal Revenue Service is giving businesses a tax break they thought they had lost in the tax overhaul last year — write-offs for wining and dining clients.

The agency said Wednesday companies can still deduct 50 percent of meals while entertaining clients and customers, clearing up confusion about whether tax law changes last year had completely eliminated that benefit.”

“Kathy Petronchak, the director of IRS practice and procedure at Alliant Group and the chair of the meals and entertainment task force at the CPA group, said that the guidance and examples “align with what we had hoped to see with the clear distinction between entertainment and allowable business expenses for meals.”

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Filed Under: Operations Tagged With: , , , ,

Dunkin’s Espresso Flavors Craft Beer For Fall

October 5, 2018 by Leave a Comment

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The two iconic beverage brands have come together for the first time to launch a balanced, malty tasting, smooth brew starting October 1. The 12 ounce bottles and drafts will be available throughout the fall season, at select retail locations across the Eastern U.S.

Harpoon Dunkin’ Coffee Porter first premiered September 27 at Dunk-toberfest, the aptly named introduction to Harpoon’s annual Octoberfest event.The new, 6% ABV Dunkin’ Porter has a smooth mouthfeel with aromas of espresso and dark chocolate. The brew pairs perfectly with fall favorites like hearty stews, seasonal desserts, tailgating and, Dunkin’s signature donuts.

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Filed Under: Global Market Buzz, Heard on The Street, Local Market Buzz Tagged With: , , , , , ,

How Eateries Can Implement a More Sustainable Packaging Strategy

October 4, 2018 by Leave a Comment

“The abundance of recent announcements by cities and foodservice companies enacting bans on plastic drinking straws can make it seem like straws are the chief culprit when it comes to plastic waste. However, straws make up a small portion of plastic waste, and over-emphasizing efforts to get rid of straws could distract from a more comprehensive approach to foodservice sustainability that would have a much greater impact than focusing on straws alone. As off-premise sales continue to grow for restaurants, foodservice packaging will only proliferate, so it’s important that restaurants invest in packaging that’s more sustainable from the start and help consumers dispose of it responsibly.

To further cut down on the amount of foodservice packaging that ends up as waste, restaurants should make sure they’re purchasing recyclable materials and disposing of them properly. A high percentage of restaurant operators report that they recycle, according to the National Restaurant Association’s 2017 Restaurant Sustainability Survey, which found that 29% of restaurants recycle rigid plastics such as cups, some 22% recycle cling wrap and other flexible plastics, and 65% recycle paper and cardboard.”

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Filed Under: Global Market Buzz, Operations Tagged With: , , , ,

The Red Cat, a Pioneering Chelsea Restaurant, Will Close

October 4, 2018 by Leave a Comment

“The Red Cat, an unpretentious neighborhood restaurant in Chelsea that became a destination, will close at the end of December after nearly 20 years in business. The reason is none of the usual suspects: a big rent hike, slumping traffic or the need for a costly renovation, said the chef, Jimmy Bradley. He has simply decided to quit.”

“(…) “My goal was to have my own business by the time I was 30,” Mr. Bradley said. He was 31 when he became the chef and an owner of the Red Cat, on 10th Avenue.
Chelsea was a much different place back then, with no High Line, art-gallery scene or sleek high-rise condominiums. London Terrace had elegant apartments; nearby there were, and still are, public housing projects. Gentrification has not had a huge impact on the Red Cat’s business Mr. Bradley said. The condos often have absentee owners who don’t come in for a bowl of lentil soup or a plate of local skate, and tourists plying the High Line are not particularly tuned in to the restaurant’s presence.

“It’s difficult for small businesses in New York now,” Mr. Bradley said. “My staff can’t afford to live nearby like me. They get home at 2 a.m. and have to be back at work at 9.”

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Filed Under: Closings, Cooking, Enterprise Insight, Meet The Owner(s) Tagged With: , , , , , , , ,

Seafood Chain Opening First NYC Restaurant in Kips Bay

October 2, 2018 by Leave a Comment

Image result for seafood

Food truck-turned-restaurant chain Cousins Maine Lobster is opening its first brick-and-mortar location in New York City after inking a lease at 77 Lexington Avenue in Kips Bay, Commercial Observer has learned.

The seafood franchise signed a 12-year deal for 2,700 square feet at the base of the four-story, mixed-use residential building at the southeast corner of East 26th Street, according to a release from Newmark Knight Frank, which represented Cousins Maine Lobster franchisee Yunus Shahul in the transaction.

The restaurant, slated to open before the end of this year, will occupy 1,500 square feet of ground-floor retail space and an additional 1,200 square feet of lower-level basement space, NKF said. The location was previously occupied by gluten-free Italian restaurant Tali.

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Filed Under: Cooking, Events, Openings, Trending Now Tagged With: , , , ,

Why Restaurants Struggle to Eliminate Tips

October 1, 2018 by Leave a Comment

“It’s been three years since Danny Meyer became the unofficial leader of a movement to abolish tipping at restaurants, in an effort to level the playing field for front-of-house and back-of-house employees, among other things. In the process of converting his own restaurants to his so-called Hospitality Included model, he convinced a number of major restaurateurs to adopt similar pay structures. The upside, of course, is that these tip-free models theoretically decrease pay discrepancies between people who work in the dining room and the kitchen, and don’t rely on diners to essentially supplement workers’ incomes.

But after giving it the ol’ college try, two major restaurants have returned to the old way of doing things. The Wall Street Journal reports that Agern, the Nordic restaurant from Claus Meyer, and Michelin-starred Cafe China in midtown have both returned to the traditional tipping model and have seen great results.”

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Filed Under: Enterprise Insight, Operations Tagged With: , , ,

Best Restaurant POS Tools: How to Choose the Right System for You

October 1, 2018 by Leave a Comment

Breadcrumb POS inside of a restaurant

“Understanding the needs of your restaurant is a most important first step in choosing the best POS software. After all, the needs of a small brewery with no food service differ greatly from those of a large restaurant. To assess your needs and find the best restaurant POS system for your growing establishment, here are a few things to consider.”

“You’re likely already using tools to manage your accounting, payroll, food costs and scheduling. These tools are essential for the daily operations in your restaurant. That’s why we suggest choosing a POS system that integrates with these tools that you already use. This will reduce the organizational disruption in your restaurant and ensure that your POS leverages data from the past to make more informed suggestions for the future.”

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Filed Under: Enterprise Insight, Operations Tagged With: , , , , , ,

How To Address Lack Of Employee Engagement

September 27, 2018 by Leave a Comment

Image result for RESTAURANT EMPLOYEE WINNING CULTURE

“Your culture can propel your profits, sales, employee retention over the goal post or have it fall short. The cost of not making it over the goal line is something any small to mid-size business cannot afford.”

“In the U.S., according to the US Census Bureau, 97.7 percent of all U.S. businesses have fewer than 20 employees. Many of these employees wear multiple hats to keep costs down and profits up.”

“The most recent survey suggested approximately a third of employees are actively engaged leaving two thirds not engaged or actively disengaged. The cost of disengaged employees is estimated to be 34 percent of their salary due to lost productivity, missed shifts, disruption to others, tardiness, etc., Gallup found. Recently I attended a meeting where the CEO asked for some input from his advisers regarding what to do with negative, complaining people. He made the remark several times this was a small thing, but the behaviors of the negative people were hurting his efforts to more the organization forward. He had inherited longtime tenured employees where their beliefs were “We will be here after you leave.”

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Shoppers Want Deals, Coupons for Groceries More Than Any Other Category

September 26, 2018 by Leave a Comment

grocery technology omnichannel grocery supermarket research

“The 2018 Purse String Survey reveals that 93 percent of respondents show interest in coupons and deals. Some 82 percent typically use coupons for their routine, weekly grocery shopping trips, and nearly half (47 percent) do so for fill-in trips, as well.

But there’s also a major opportunity for online grocers, according to the research. Grocery ecommerce adoption is on the rise, with 13 percent of respondents saying they are buying more groceries online for delivery compared to last year, and 12 percent saying the same for click-and-collect. Delivery numbers rise even higher for dads and Hispanics, while click-and-collect numbers rise for Millennials and Millennial parents.”

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Filed Under: Heard on The Street, Shopbuzz, Trending Now Tagged With: , , , , , , , ,

How Hudson Yards Chose Its 25 Restaurants

September 25, 2018 by Leave a Comment

“On March 14, 2019, Hudson Yards will fully open its eastern portion. Twenty-five restaurants will fire up the stoves. More than 100 stores will fling open their doors. Marquee companies like BlackRock, Wells Fargo, and HBO will occupy office space. An entirely new neighborhood will spring into existence in what seems like an instant.

In reality, though, it’s taken mega-developer Related Companies over a decade to get to this moment. In that time, Hudson Yards — the stagnant rail yard area between 30th and 34th streets and 10th and 12th avenues — has turned into a modern adult playground of luxury retailers and restaurants, park space, and public events that have come to fruition through the vision of Related Urban CEO Kenneth Himmel.”

“Everything is designed to pull people in and up: the escalators, the open floor plan, Neiman Marcus starting on level five, the Keller and Estiatorio Milos flagships on five and six. Restaurants on higher floors are common in other countries, especially in Asia, but the format has not quite caught on in the United States — yet, if Himmel has his way.”

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Filed Under: Events, Local Market Buzz, Openings, Shopbuzz Tagged With: , , , , , , , , ,
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