The restaurant industry is big. You can simply walk down one street of Manhattan and find various types of restaurants. According to the Bureau of Labor Statistics, New York is home to 42,610 restaurants and bars.
Forecasters noted that the restaurant industry will continue to expand. Generating 33.6 billion in sales, New York restaurants contribute to the rise of New York’s economy. But these perks do come with pitfalls. More restaurants and more employees mean that the frequency of risks may increase.
Risks are troublesome and sometimes unavoidable. But if you are looking to keep your restaurant doors open, you must
- Define risks
- Manage risks
What risks do restaurant face?
Operational risks in Peekskill NY Restaurants:
- Slip and falls in back of house and in front of house
- Violating New York’s Dram Shop Law
- Mishaps in the kitchen (cutting fingers, burning, etc)
- Electrical difficulties
- Food borne illness
Strategic risks in New York Restaurants:
Strategic risks are directly associated with a restaurant’s reputation.
- If you own a restaurant with multiple locations, food borne illness in one location can spread to every location
- Changes in menu, ingredients, chef, staff, prices, etc
- Management decisions regarding new products, expansion, etc
Economic risks in New York Restaurants:
- Changing trends
- Changing demographics
- Physical obstructions (highway construction, natural disasters, etc)
At MHB Insurance, we have helped restaurants, bars, taverns and nightclubs all over the U.S. obtain the vital insurance protection they need. However, because we’re situated right here in Peekskill, New York, we find ourselves working with a wide variety of food service facilities and venues as well. Unlike many of our competitors, we’re known for our work with bar and restaurant insurance in Westchester County. We know what you’re up against as a business owner. We understand the risks you face. We take the time to research and understand exactly what insurance products can help you most.
Let’s Get Your Peekskill NY Restaurant Covered Today