hospitality

Key Performance Indicators for the Hospitality Industry

Reading Time: minute Utilizing benchmarks is the easiest way to determine how well your hospitality company stacks up against others in your industry. Understanding and knowing current benchmarks is a great way to...
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Hospitality Businesses Guide to Local Sales Tax [Minnesota]

Reading Time: 1 minute As a general rule, local sales tax should be charged to customers on all sales made in a local taxing area. The local tax applies to anyone who is from outside the city or county and picks up items...
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Things to Consider before Starting a 401(k) Plan in the Hospitality Industry

Reading Time: 4 minute Unemployment is at or near a record low. Hospitality business owners are looking for new tools to attract and retain a robust workforce. One tool often left unutilized is an employer sponsored...
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How is the Tax Reform Affecting the Hospitality Industry?

Reading Time: 3 minute The Tax Cuts and Jobs Act (TCJA) brought significant changes for many businesses and individuals, including an overall cut in tax rates. Those in the hospitality industry have been generally...
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Preventing Employee Theft in the Hospitality Industry

Reading Time: 2 minute Does your hospitality business allow employees to handle either cash or inventory? If you answered yes, then your business is susceptible to employee theft. The hospitality industry has an enormous...
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Beginners Guide: Restaurant Accounting

Reading Time: 4 minute Did you know about half of all small businesses fail due to bookkeeping and accounting errors? A majority of those failures are directly related to poor accounting practices.
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Hospitality Industry Benchmarks: How does your company stack up?

Reading Time: 3 minute Real Life Example: You received your financial statements from your accountant and you are making money. That is great! Isn’t it? But what else are the numbers on the paper telling you? Is your...
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Start-up Insights for New Breweries: Q&A session with Able Seedhouse and Brewery

Reading Time: 4 minute Able Seedhouse and Brewery is located in Logan Park, Northeast Minneapolis. They brew a wide range of ales, with a highlight on the grains. They literally, and figuratively, started by planting one...
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