Welcome to the Restaurant Facilities Group

Restaurant Facilities Group was founded in order to fill a need by restaurant owners and managers to have a single source in which to find the top leading professionals in their respective fields of service. By partnering with reputable companies, we are able to offer resources for all of your facility needs. Each member of the group was picked due to their reputation, knowledge, and coverage in each of their individual industries. Our commitment to you is to provide you with a service that looks out for your bottom line and delivers value through relationships and experience.

 

 

CyberRisk

The potential liability associated with cyber threats can be mysterious for business leaders in private and non-profit companies. Few understand the breadth of these liabilities or the remedies or protections.  ... read more

What Employees Should Know About Health Care Reform

The goal of The Affordable Care Act, most often referred to as “Obamacare,” is to provide access to affordable health care coverage to everyone in the United States.  The reason for this is that as of 2014, everyone is required to have some form of health insurance, which can be provided through individual plans, employer-sponsored plans, or government programs.  The repercussion of not having an insurance plan is a monetary penalty.  As of 2015, this penalty is $325 per adult and $162.50 per child, or 2 percent of your household income, whichever is greater, with a family maximum of $975.  Questions on your tax return will help determine if you are required to pay the penalty, are eligible for a government subsidy, or are exempt from coverage. If you are not able to obtain health insurance through your employer, you will need to purchase health insurance individually from an insurance provider.  To assist with this, the government has established an online exchange called the Health Insurance Marketplace.  This marketplace serves to aggregate all of an individual’s health insurance options into one site to simplify the comparison shopping for the purchaser.  While you are not required to use the marketplace, you may be eligible for tax credits or assistance from the government if you use it. The period of time you can sign up for health insurance through any source as known as the Open Enrollment period.  This time can vary from state to state or employer to employer, but is typically in October or November with the idea that the plan you sign up for will begin January 1st... read more

The Affordable Care Act Employer Mandate

Often referred to as “Obamacare,” the Affordable Care Act contains a mandate that requires all businesses with 50 or more full time equivalent (FTE) employees to provide health insurance to at least 95% of those employees and their dependents up to age 26.  Businesses with 50 to 99 FTE will need to insure those workers by 2016.  Businesses with 100 or more FTE need to insure at least 70% of those workers by 2015, and 95% by 2016.  Failure to do so will result in a per-month, per-employee monetary tax penalty in the thousands of dollars. Under Obamacare, a full time employee is defined as anyone working an average of 30 hours per week or 130 hours per month who works a minimum of 120 days during the year.  Full time equivalent is determined by adding the number of full-time employees to the combined number of part-time employee hours worked and dividing by 30. There are three different ways in which hours can be counted. Actual Hours Worked– This includes the actual hours an employee worked and was paid for, as well as paid leave hours, per payroll records. For example, if an employee worked for 1000 hours and was paid for 40 hours of vacation, their total would be 1,040. Days Worked Equivalency– With this method, you credit an employee with 8 hours for each day they worked for a minimum of 1 hour. Therefore, if an employee came in Monday-Friday and worked only 4 hours each day, you would still credit them for a full 40 hours that week. Weeks Worked Equivalency– Under this method, an employee... read more

Are Credit Card Processing Fees Negotiable?

Some credit card processing fees are negotiable, and some aren’t. So, please put the spreadsheet aside for a moment and read this article before you call another processor to ask the fateful question, “What’s your rate?” Before you can negotiate credit card processing fees, you have to know which fees are flexible. Credit card processing is like any other industry in that there are fixed costs and markups. Fixed costs are those that a processor can’t change, and markups are open to discussion. Understanding the components of credit card processing cost is the first step toward negotiating competitive fees. The second step, as we will explain in a moment, is to not negotiate fees before negotiating pricing. It may sound like the same thing, but there is an important difference. Components of Credit Card Processing Cost The three components of credit card processing cost are interchange fees, assessments and markups. Interchange Fees (Not Negotiable) Interchange fees remain the same no matter which credit card processor you choose, and no processor can offer you lower interchange rates than another. Interchange fees are charged by the banks that issue credit cards, and only the stakeholders of Visa, MasterCard and Discover (card-issuing banks) can update interchange. Assessments (Not Negotiable): Visa, MasterCard and Discover charge various assessment fees when businesses accept one of their credit or debit cards. Like interchange, a business will pay the exact same assessment charges regardless of which credit card processor it uses. All processors pay the exact same assessment fees to Visa, MasterCard and Discover. Markups (Negotiable): The only area of credit card processing expense that is negotiable... read more

Credit Card Transaction Fees

Credit card transactions fees may only be pennies on the dollar, but costs can really add up. More often than not, credit card transaction fees contribute more to cost than credit card processing rates. A common and costly mistake when shopping for credit card processing services is to focus on a processor’s rate while paying little attention to transaction fees. The financial impact of this mistake is especially damaging for businesses with a low average sale amount. What’s the difference between a transaction fee and a processing rate? Each time a business processes a credit card transaction it pays two types of fees. The first is a single percentage that is based on the volume of a transaction, called the rate or discount rate, and the second is a flat fee generally referred to as a transaction fee. The trouble with transaction fees starts with a misunderstanding of the term itself. The term transaction fee generally refers to any flat fee charged when a business’s credit card machine or software gives or gets information to or from a processor. Authorization fees, return fees, AVS fees and gateway fees are just a few examples of the various transaction fees that processors charge. And, unlike a processor’s discount rate, more than one transaction fee may apply to an individual credit card transaction. What people typically think of as a processor’s transaction fee is actually its authorization fee. Authorization Costs Vs. Discount Rate Cost The authorization fee is charged each time a business authorizes a credit card transaction, and it often contributes more to cost than the discount rate. This is especially... read more