Cary Miller Presents: PEOPLE SELLING THE FOOD INDUSTRY FR ANCHISE YOUR BUSINESS!

This month I am proud to be pictured with Nicole Nassif, owner of Imee’s Mediterranean Kitchen, a downtown Chicago lunch spot known for its scratch cooking, great food and fast service. Nicole created the menu items using three generations of remarkable family recipes, each with a healthy and fresh twist. Imee’s is located at 171 N Wells Street in Chicago.

King Lin is the owner of Thunderbird Food Machinery

Inc, a firm well known in pizza, culinary, bakery and food production circles as having a line of durable, long lasting and cost effective mixers and other food service production equipment. With over 30 years of food equipment manufacturing excellence, the company has earned and retained the business at many independent and chain restaurants including Pizza Hut, KFC, Taco Bell and others. If you are considering a new mixer or other production equipment, look to Thunderbird. You can see their ad on page 40. Anthony Granatelli and Kevin Jennings are with Zink Foodservice, an equipment supply manufacturers representitive group helping to transform kitchens and dining rooms for over 40 years. Anthony and Kevin work closely with independents, chains and dealers to help create the “wow” factor in the dining room, while increasing efficiencies, cost and labor savings in the back of the house. With competition being so fierce and menu prices at an all time high, it’s never been more important to deliver a striking impression for every guest experience. Visit Zink’s tabletop showroom or test kitchen before you buy to see what’s new and for ideas on helping you to maximize your equipment and supply investments. You are welcome to meet your equipment dealer sales rep when you visit. Their services are free. You can see their ad on page 2.

George Papazov is a project manager at Perpetuum Designs , offering interior services for hospitality, restaurant, bars, cafes, hotels, offices and commercial spaces at affordable prices. George’s focus is on helping the firms’ design projects to get finished on time and on budget. Striking design creates an impression that get people talking and brings them back. George and his colleagues understand the importance great design and working within budgets. The firm has offices in Chicago and London. Great design does not have to be expensive. Contact them to day to discover how affordable their services are. You can see their ad on page 10.

Jack Donovan is the second generation owner of Donovan Food Brokerage, a sales and marketing firm focusing on food service sales in the Midwest. Jack’s firm works with many dry, refrigerated and frozen food product manufacturers to help them increase their distribution and sales, while supporting distributor sales reps. Jack’s team is often an extension of a manufacturers sales team, providing “boots on the ground” staff to help with cuttings, samples and problem solving. The firm is based in Glenview Illinois.

Gus and Peter Bartsocas operate Tasty Breads International, a company with a 100+ year track record of creating exceptional bakery products which are produced for restaurant chains, supermarkets and food processors. The company has several plants to meet the growing demand from its customers who trust Tasty Breads to create premium quality bakery products customers love. From in-house R&D to staying ahead of dietary trends, to constant quality improvement, there is a reason that so many customers work with Tasty Breads to achieve cost controls and to give their customers products their customers will crave. If you are a multi-unit operator, be sure to talk with Gus or Peter about creating products for your operation. Their local bakery and office is located in Northbrook, Illinois.

The Time of Year for the “Gift” Card that Keeps on Giving Key Takeaways for Restaurants in Managing Gift Cards

By Dirk Ahlbeck, CPA National Restaurant Practice Lead: Apple Growth Partners

For restaurants, gift cards are widely beneficial – the restaurant receives cash up front for the purchase of the gift card, diners often spend more than the actual value of the card used, offering the sale of gift cards (especially during the holiday season) can increase store traffic and revenue, and gift cards are always a popular gift.

When factoring gift card volume and revenue within the restaurant’s financials, owners need to consider Unclaimed Property or Escheat laws. All states have a variety of Escheat and Unclaimed Property laws, which occur when a seller declares the card as “unused.” The law requires holders to report any abandoned, intangible property to the states under law. Abandonment is defined as “dormancy period” of activity (i.e.: a buyer purchases a restaurant gift card in December 2019 and has yet to use it in the store by December 2022). Standard time frame for these laws indicates 3-5 years after the liability is created. Additional examples of unclaimed property along with gift cards residual balances are un-cashed payroll checks.

For restaurant owners to claim which state the funds are entitled to, the first step is the state of the owner’s last address. The second priority is the company’s state of incorporation. Most gift cards fall under this rule; however, states vary between full or partial exemption of gift card reporting. Some states are fully reported and require escheatment of unredeemed gift cards.

In the event a restaurant goes out of business with unused gift cards remaining with consumers, a few options are available:

• If the gift card was purchased using a credit card, consumer protection laws may result in a refund.

• Consumers may try to use the gift card at a competitor’s restaurant to gain new business.

If restaurants have a significant aged gift card balance, owners should determine if a potential unclaimed property liability exists. It’s critical for restaurants to maintain compliance with state requirements and regulations, as states also have voluntary compliance programs for noncompliance.