November 2012 Newsletter

Not only is November the start of major holidays but it is also the busiest quarter for restaurants. Is your restaurant prepared for the upcoming holiday madness? How is your restaurant doing in terms of meeting goals and budgets? Our newsletter covers several important issues during this time of the year. Read our articles below to learn the importance of maintenance, discover business intelligence software to help increase profit margins, and stay in compliance with current rules and regulations. Our first ever restaurant seminar “Restaurant Management: Operations, Systems & Financial Controls” was such a hit that we are hosting a second session. I invite you to join us on January 28th at the historic Roosevelt hotel in Hollywood.
» Seminar details: “Restaurant Management: Operations, Systems & Financial Controls”

Is Your Maintenance Program going to Trick or Treat You?

Every restaurant manager lives in fear of the surprises that will surface during a busy weekend or holiday in their restaurant. These surprises are almost always maintenance related issues in the restaurant business because most of our employees show up and work busy shifts. Managers treat their maintenance and repair issues like it they are going to the dentist – they know they have to go but they will wait until it starts to really hurt.
» Read More

KROST’s First Restaurant Seminar: A Gourmet Hit

On September 24, 2012, KROST held their first ever restaurant-themed seminar. Hosted at the Roosevelt Hotel in Hollywood, Managing Partner, Greg Kniss, and Director of Restaurant Operations, Jean Hagan, were the featured speakers of this exciting event that covered the ins and outs of operating, owning, maintaining, and growing a restaurant business in this competitive and challenging environment.
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Form 1099: Why It’s Important and What You Need to Know

A 1099 Form is used to report various types of income other than wages, salaries and tips to the IRS for taxation purposes. A 1099 must be issued for most non-incorporated vendors that are paid $600 or more for services rendered in one calendar year.
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Workers Compensation Changes for 2013

On September 18, 2012, Governor Jerry Brown signed into law significant changes to the California workers’ compensation system, which will take effect on Jan. 1, 2013.

The legislation is intended to benefit employers and employees in California.
» Read More

Business Intelligence Software is Driving Restaurant Profits

An important tool is emerging as an undisputed victor from the ashes of the 2008 recession, the subsequent dramatic rise in commodity prices, and other escalations in restaurant operating costs.  Sophisticated restaurant operators are beginning to use business intelligence software.
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End Of the Year Insight from Paychex

As we begin 4th Quarter, organizations should report employee changes to your payroll provider by the assigned due date and start planning for end of year bonus checks.  Late reporting of bonus checks and associated tax deposits can result in penalties and fines from the IRS and state tax authorities.
» Read More

 

Seminar
 Restaurant Management:
Operations,  Systems & Financial Controls

1/28/2013 at the Hollywood Roosevelt Hotel
The seminar covers invaluable and informative
topics such as restaurant financial analysis,
profit and loss systems, tax issues, menu
analysis, payroll controls, and what’s coming  next for the industry.
» Seminar Details

Case Study

Perpetual Bar Inventory:
The constant challenge with restaurants is accurate inventory values. This particular operation actually had too much space for liquor, beer and wine storage. From month to month, it was impossible to figure out where the inventory mistakes were made. Find out how they solved their issue:
» Read More

Client Spotlight

Urbane Cafe
A Motorcross Racer turned Restaurant Owner. Learn about Tim Holt’s unique career move along with snippets of his everyday life.
» Read More

Resource of Professionals

Paychex
Gina Lim
Phone: 818-298-2490
» Paychex.com

 

Trinity Capital LLC
Kevin T. Burke, Managing Director
Phone: 310-231-3102
» Trinitycapitalllc.com
ISU Insurance Services
Peterson Milaney Insurance Associates, Inc.
Corbin Wade
Phone: 805-551-2170
» Petersonmilaney.com

Testimonial

“We reached out to KROST in hopes to find a solution. We got much more than a solution. We were able to forge a great working relationship that I am confident will continue for years to come. They are experts in all areas of the hospitality business and we would highly recommend them to any operators who are interested in improving…”

Skyler Reeves, Director of Operations
213 Ventures
» Read More