KROST is hosting an emergency webinar, How to Apply for the Restaurant Revitalization Fund, on Friday, April 30, at 10 am. Tuesday, April 27, 2021. The US Small Business Administration (SBA) announced today that applications for the Restaurant Revitalization Fund (RRF) would open, via their portal, at 9 am Pacific (12 pm Eastern) on Monday, … Read More
In 2020, the Restaurant Industry was projected to do $899 billion in sales. That expectation has since been adjusted down to $659 billion in sales, a $240 billion hit to the industry as a result of the pandemic. Every operator has felt the effects of the pandemic, and the most motivated, wasted no time pivoting … Read More
With 2020 in the history books, many restauranteurs are looking at similar uncertainties in 2021 that the industry has been hurdling for the last nine months. Information is flying at us at near lightspeed, and it is easy to lose sight of the opportunities that lie within the voluminous pages of new legislation. However, one … Read More
In May, our Business Management Principal, Jean Hagan joined Restaurants Care in their 86 My Hair campaign to raise money for restaurant workers impacted by the pandemic. Jean pledged to shave her head if we reached a goal of $25,000 in donations. We have raised $15,465 so far and hope to reach our goal soon. … Read More
The restaurant industry has never experienced what we are going through right now. I spend all my time consulting with responsible operators to figure out how to continue operations, keep staff and guests safe, and maintain cash flow. Hundreds of meetings have the same theme: we will fight and do whatever is necessary to keep … Read More
Restaurants have been integral to the KROST business since 1939, and during this unprecedented time, the restaurant industry has been severely impacted by the COVID-19 restaurant closures. Although restaurants are beginning to phase out their re-openings, it is likely that the industry would not return to their full capacity until the next year. These COVID-19 … Read More
Jean Hagan, Principal and leader of KROST’s restaurant practice, was featured on the SoCal Restaurant radio show hosted by Andy Harris on May 9th, 2020. 48,000 listeners and hundreds of live streamers tuned in as Jean discussed the future of dining out and provided sound advice on how restaurants should gradually prepare for the return … Read More
Below is a preview of one of the articles in the new KROST Quarterly Hospitality Issue, “The Battle to be a Profitable Restaurant: How to Deal with Employee Theft” by Aric Wong, CPA, Manager – Tax. “With 72,000+ restaurants in California, the state does everything possible to ensure taxes are properly reported, collected, and paid … Read More
Effective April 1st, 2019, a district tax increase will be applied in several localities throughout California. The rate increase is due to the passing of numerous Measures in various counties on November 6, 2018 to fund several improvements such as street improvements, maintain essential services, neighborhood safety, disaster preparedness, among others. To all restaurant operators, … Read More
Toward the latter part of the 1980s, Cocktail Big and Die Hard were in the movie theaters, George Michael was telling us to have “Faith” and Wahoo’s Fish Tacos opened its first location in Costa Mesa, California. On the wall in that restaurant, was one of the first chemical warning signs posted because of Prop … Read More
