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Matt Vannini | President and CEO | Restaurant Solutions Inc.
Tips for restaurants to and thrive during COV
Throughout the pandemic, operators have been forced to make the heartbreaking decision to lay off team members, many of whom were like family. They’ve lost tens of thousands of dollars and their restaurants look like a shell of their former selves, all while wondering how long their PPP money will last.
Franchising USA
Owners and operators are bruised and beaten up, but by no means counted out. Creativity and tenacity got many operators into this business and that’s what it’s taking to get them through this crisis. They also need to determine facts versus fiction. Fiction: “National chains are filing for bankruptcy; if they can’t make it there’s no way an independent can either.” This statement is ridiculous. When it’s known that a group is filing for bankruptcy, operators need to ask themselves what strategy was being executed.
Most bankruptcies made by corporate restaurants are done by design in order to renegotiate leases and corporate contracts. The clause for renegotiation of contracts is usually buried somewhere deep in the terms and conditions and it’s a very effective way of getting all parties to the table at one time. Fiction:“Ghost kitchens and delivery services are going to be the only way to order food in the future.” Seriously?! That’s also ridiculous. RSI’s data from the last financial crisis clearly demonstrated that independent restaurants
