Succeeding in the restaurant business is not easy. According to research done by Caroline Price, 1 in 3 restaurants will not make it to their second year.
There are many reasons for this. As it happens in so many industries, a person is gifted in a skill like construction, cooking, or creating art.
But they aren’t necessarily gifted in business.
Ms. Price provides seven other reasons that restaurants don’t survive. Many of them can be controlled by the business owner.
However, if you want your restaurant to see its second year and beyond, you need to have insurance that will cover everything needed – and nothing more.
Owning a Restaurant is a Rewarding Challenge
Some industries, by nature, are good for the community. The restaurant industry is one of them. Restaurants are places where people gather, stories are shared, moments are celebrated, and memories are made.
A good meal in a unique environment with trusted friends evokes virtually every sense human beings have. That fusion is hard to manufacture.
Generating this experience – and maintaining it daily for years – is not for the faint of heart.
It requires an artistic eye, a compassionate heart, emotional intelligence, and a robust pallet. And then some. You also need to be able to manage staff, market your plan, and try to sleep sometimes!
We want to see you succeed. We know it’s not easy.
Don’t Get Sideswiped by not Having Quality Restaurant Insurance
It’s one thing if your restaurant doesn’t succeed because you could not create the profit margins necessary to pay the bills.
That would be heartbreaking, of course.
But how many nights of sleep would you lose if you had to close your restaurant because your restaurant insurance plan didn’t cover an expense you didn’t see coming?
It doesn’t have to be that way. At JFA Brokerage and Associates, Inc, we cover restaurants with the insurance they need to provide the experience people crave.
Restaurant insurance has been our bread and butter for over 25 years.
We don’t want you to miss a moment of the adventure you could enjoy because you are worried about things you can’t control. And we don’t want to see your dreams derailed because of what you couldn’t see coming – but we can.
The Restaurant Insurance You Didn’t Know You Need
Do you have inland marine insurance? Few people know what that is. Not many restaurant owners would even consider adding that to their policy.
We understand that when most restaurant owners hear “marine” paired with insurance, they don’t think they’ll need it.
But if you plan on transporting any goods or company equipment regularly, inland marine insurance is a must.
This type of insurance covers you when you move goods, materials, or equipment on land. “Marine” just means moving, and “inland” means on land.
If you provide catering, transport company electronics like computers, or haul linens to a laundromat, inland marine insurance will cover you.
Not every business owner’s policy offers this.
This is just one (of the many) examples we can offer to demonstrate why it’s imperative for JFA Insurance Brokerage and Associates to have your back.
Setting up the Restaurant Insurance You Need
Ready to dig into the kinds of insurance you need?
Who Needs Restaurant Insurance?
If your establishment serves any food or drinks regularly, you will most likely need at least restaurant liability insurance.
For example, the non-profit grocery store, Greater Goods, offers a “pay what you can afford” model for groceries.
If they only sell groceries, they may not need any restaurant insurance. But if they offer sandwiches, coffee drinks, or more, they would need to add restaurant insurance to ensure they are adequately covered.
Here are a few businesses that must secure restaurant insurance:
- Cafes/Coffee Shops
- Fast Food Restaurants
- Ice Cream Shops
- Fine Dining Facilities
- Full-Servicece Restaurants
- Pizza Shops
- Food Trucks
- Retail Shops with Food and Drink Offerings
What Types of Restaurant Insurance do we Need?
Every business needs to begin with a business owner’s policy. Within this, we will help you consider several other factors.
- General Liability
- Commercial Property
- Products and Completed Operations
- Premises Liability
- On-Site Equipment Insurance
- Business Income Insurance
- Premises Medical
- Coverage for Inventory Loss
- Building and Personal Property Protection
- Fire Legal Liability
- Crime Insurance
We’ll also help you consider benefits for employees like these:
- Group Benefits
- Group Disability Insurance
- Voluntary Benefits
- Group Health Insurance
- Disability Insurance
- Individual Life Insurance
- Paid Family Leave
Further, we’ll help you process more specific questions and the insurance you may need.
- Liquor Liability Insurance
- Cyber Insurance
JFA Is Ready to Help you get the Restaurant Insurance You Need Today!
We’ve been around the block a time or two. We understand even the complex needs restaurants have during different seasons.
In the Northeast, business is not the same during a February blizzard as on a perfect summer day!
Our team of friendly experts are available to answer any questions you may have. Just reach out! If you’re ready to get the process started to obtain the insurance you need, we’re happy to give you a free quote.
Your future in the restaurant industry can be bright. We’re here to ensure it stays that way!