Imagine walking into a restaurant, getting inundated by sensations – lively chatter, delicious scents, and the anticipation of good food. The lockdowns of the past couple of years have made us all appreciate the value of these small experiences we took for granted.
Fortunately, we can make up for missing out on the restaurant experience now that eateries across the country are reopening. And with the reopenings, many people are once again trying to achieve their dreams of running a restaurant.
Nevertheless, the restaurant business is fraught with challenges and potential hazards. So, with this in mind, here are five critical risks you must avoid when starting your own eatery.
1. Locks That Aren’t Very Secure
Setting up a restaurant can be a hectic and chaotic process. So it’s easy to overlook certain details during the process and make some poor choices – after all, it’s a part of the learning process. But one thing you absolutely cannot compromise is the locks that secure your establishment when closed.
Your lock has to be robust against illegal entry. Cheaper options might be vulnerable to lock picking and lock bumping, leaving your restaurant vulnerable to theft overnight.
Purchase a strong, reliable lock, regardless of its cost. It is a worthwhile investment that can mitigate risk. On top of this, do not adopt a master key system since it can make your establishment easier to loot.
2. Glass Fronts That Are Prone Breakage
Trendy restaurants have big glass fronts, allowing natural light and giving customers a glimpse of the attractive interior and delicious food inside. And if your restaurant design includes this facet, make sure you invest in quality glass that isn’t vulnerable to forced entry. It doesn’t require much effort for petty criminals to shatter these windows to access your cash register.
Of course, you can place folding security gates or rolling gates, but these can detract from your restaurant’s aesthetic design. Luckily, you can now get security shields to secure your windows against everything – from scratches to gunshots.
3. Cash-Only Payment Systems
Cash is king, except when it isn’t. Many risks are associated with being a small business that relies on cash. For one, it makes you more susceptible to robberies.
Burglars actively seek out and target cash-dependent businesses. Physical currency is untraceable, meaning it can be easily used afterward without raising any red flags. The same cannot be said for “hot” items like jewelry and art, which are not as easy to convert into money legally.
If you are too reliant on cash, rest assured that criminals will notice. And they might seize the opportunity to deprive you of your hard-earned money.
Physical cash opens up other vulnerabilities, too. If your cash register is overflowing with cash, it will be easy for people to sneak out a few extra dollars. Most employees are hardworking and honest, but you might mistakenly hire somebody with impure intentions.
Luckily, the solution is relatively easy – discourage cash payments. Maintain at least two functioning credit card machines at all times.
Moreover, you can offer loyalty programs to your customers that provide discounts for exclusively using credit and debit cards. You can even enroll your restaurant in credit card reward programs.
4. Employees Who Steal
Even if unscrupulous employees are not outright skimming cash from the top of your register, they might be inadvertently facilitating a burglary. Employees might provide specific details about your business to people who might take advantage of it – often accidentally.
As a result, criminals can get insider knowledge that makes it easier for them to steal from you. Employees might also refuse to turn over a criminal they inadvertently assisted if they are close friends or family members.
Have a conversation with all recruits about the importance of discretion, emphasizing how important it is to conceal and safeguard details about your operations to non-employees. Be sure to do this in a non-accusatory tone, explaining how simple accidental slip-ups can carry unfortunate consequences.
5. Inadequate Insurance
Many people who are most passionate about sharing their love of food with the world by opening their own restaurants are not flush with money. You understandably need to invest your hard-earned money smartly and pragmatically.
But, do not discount the importance of Restaurant Insurance like many others do until it’s too late for them to do anything about it. You never know what calamity or mishap can befall your establishment, especially in its early days when you’re not on a secure footing.
Restaurant Insurance gives you something to fall back on in an emergency, making it easier to protect yourself against liabilities for food-borne illnesses or injuries on-site.
Get Professional Advice on Restaurant Insurance From JMG Insurance Corp
The solution is straightforward. Get your restaurant insured or be prepared for costly legal battles, settlements, and repairs. That’s something a small business is not always able to afford.
You can get specialized Restaurant Insurance from credible insurance firms, contact JMG Insurance Corp.