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How are restaurants surviving the coronavirus outbreak? I observe 7 ways that food businesses are navigating these trying times that you would want to do as well…
As of April 2, all restaurants in North America have been restricted to operate only as take out or delivery only. This is incredibly difficult for restaurants as we already run on such small margins to begin with. So how are some restaurants able to survive the current covid-19 lockdowns? As I continue to monitor what is happening, I see several patterns and creative opportunities that restaurants are doing. Options that I share and suggest to my consulting clients and they have seen some success with.
The first thing is to make sure you check with your government’s relief programs. Small business and restaurants are the backbone of the economy. The government knows that. Which is why the stimulus packages have been passed throughout the world to save small businesses and restaurants. For example, the US passed the CARE Act, which includes $350 million just for small businesses. I recommend all owners check to see how they could apply for such funds. Also, community leaders and industry leaders are banding together to create their own relief funds. For instance, the Vancouver F&B Community was created by a local restaurant owner to collect donations to help recently unemployed restaurant staff financially.
Some other ways I’ve seen and recommend are building your relationship with your community. This is in the way of transforming your restaurant into a temporary grocery store, reusing your dining space in creative means, powering up your digital presence, and creating DIY kits. All of these ways are being done right now by restaurants. All of them also helps create a stronger relationship with your community – which is key during this troubling time but also for when things past.
These are unprecedented times. Uncertain times. Times that require you to be creative so your business can live another day to fight another day.
So if you’re a restaurant owner, small business owner, entrepreneur and is trying to survive the coronavirus outbreak, or looking for ideas to beat recession or thinking of starting a restaurant at this time, keep watching.
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ABOUT WILSON LEE:
I am an award-winning Top 30 Under 30 business strategist, digital marketer, and Brick and Mortar development expert helping business owners and entrepreneurs create explosive Food and Beverage businesses.
My experience cultivating and operating multi-million dollar businesses such as founding and growing an international Dessert Chain (https://720sweets.com/) with locations from North America to Asia, I have discovered the key to achieving unattainable success. It is now my mission to share this knowledge with others who have solid business concepts but can’t seem to break through.
If you’d like to learn more about how I can help you achieve the same results, then make sure to connect with me:
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NOTE: I am not a medical professional or economist. Please refer to the CDC and WHO for more accurate information.