The Daily Rail: Is the Open Book Business Model the Key to Restaurant Staff Sustainability?

SPORTS: Beta Test the SportsTV Guide’s New ‘Q Score’ Program

We are inviting current STVG subscribers to help us vet our new Q Score program that will rate game quality for all events listed on your SportsTV Guide. The Q Score will help sports bar operators and managers identify the best matchups and games for their establishment to show. To learn more or sign-up for the beta test, check out our blog post here.


Tony Hawps Birdhouse IPA

Renown skateboarder Tony Hawk has teamed up with skater-owned Black Plague Brewing to “design” a new beer – the Tony Hawps Birdhouse IPA. The brewmaster describes the IPA as a “smooth, clear American IPA” with “intense” citrus and floral aromas, low bitterness and a “crisp, refreshing finish.”

Brexit Skepticism

Boris Johnson, the UK’s newest prime minister, has promised that the UK will leave the EU by Halloween with or without a deal, a move that experts says could plunge the country into a recession. Meanwhile, YouGov found that 56% of people in Great Britain think it's unlikely the UK will leave the EU by the end of October compared to 27% who say it's likely. A majority of both Remain voters and Leave voters also think it's unlikely Brexit will occur before the deadline.

Infographic: Britons sceptical Brexit will occur by 31 October | Statista You will find more infographics at Statista

“I Hope They Remember You.”

In another testament to Marvel’s incredibly successful streak at the box office, Avengers: Endgame overtook Avatar to become the highest-grossing movie of all time this weekend. According to Box Office Mojo, the latest installment of the popular Avengers series grossed $2.79 billion at the box office worldwide, just edging past James Cameron’s Avatar, which had been the #1 film since it rang in the 3D-era in 2009.

Infographic: Avengers: Endgame Surpasses Avatar's Box Office Record | Statista You will find more infographics at Statista


Why it matters to you: Are alternative business models, like sharing your books, the way to future sustainability?

People make the best decisions when they have the best preparation coupled with the best information. This is why some operators are embracing and “open-book approach”  to managing their business. The notion of sharing your books with EVERY employee might sound crazy, but some operators are embracing this new method. Restaurant staff working under this model have said, ”It’s empowering to talk about periods and overhead, and cost of goods and labor costs… to know not only what those numbers are but what they mean is really huge.”

Given the expectations that Millennials and Gen Z say are important to them, this model sure sounds like it would improve retention. We have long advocated for this level of transparency. It shouldn’t be hard to understand how being included would make someone feel a more significant connection to your business. Operators that have embraced the open-book model see their teams making better decisions in the interest of the business. Operators that take the extra step and reward their team for caring about their performance have created a team of owners that are engaged and connected to the long-term success of your business. That can only be a win for your restaurant.

[Source: Toast POS]


Why it matters to you: Your health insurance open enrollment is sooner than you think.

When the American Care Act (ACA) passed in 2010, there was more than enough confusion to go around about its requirements and implementation. If you have less than 50 employees and aren’t part of a national chain, you can go back to your coffee because much of this doesn’t apply to you. However, if you are required by the ACA to provide health insurance, then you should know that open enrollment begins on November 1st and runs until December 15th. Most insurance coverage requires that you have as many as 75% of your staff on plan in order to secure coverage. Consequently, if you want to meet your statutory requirements, you will need to make sure your entire team know about open enrollment.

The best place to start is by communicating early and often about the dates for and why open enrollment matters. Things like the quality of your plan also factor into choices by employees, so you have to both have decent health coverage and articulate why they should choose to buy into it. If your plan is sufficient for well-visits and protects them amply against a disaster, you should be able to convince your team to opt-in. But you must remember that health concerns for younger folks almost certainly will compete with student loan or regular living expenses. This piece that outlines seven ways to improve your execution of open enrollment is a great resource for other actions you can take as well.

[Source: Restaurant Business Online]