It’s no surprise that COVID-19 has radically damaged the restaurant (and hospitality) industry throughout 2020. As government officials continue to enforce lockdowns and restrictive capabilities for restaurant establishments, the question becomes; how are restaurants actually doing, and what can we expect to happen through the end of the holiday season?
The National Restaurant Association is certainly enabling some states to resume business operations, with strict health guidelines including limited seating and building capacities, which poses a promising upswing of business for restaurant owners. However, it might not be enough. McDonalds CEO Chris Kempczinski stated that another stimulus would be needed, in order for restaurant owners to survive through the end of the year. For such a large corporation to feel a financial need (given that they offer full drive thru, door dash, etc options), we can infer that mom and pop shops across the US are also (if not moreso) feeling these pressures.
There is however, a large increase in restaurant gift card solutions, as noted by some studies, which have shown a 29% increase over 2019. This means customers are mindful of sanitary food ordering options, and likely will share these practices with other people. At BizPappa, we create custom electronic gift cards for restaurant owners, which you may explore more info about, here.
Other establishments around the US are exploring new ways to satisfy consumers. For example Panera, the seasoned bread and meal co., is exploring the idea of adding alcohol options to their menus. Currently, they’re testing these additions at several locations in the midwest, according to this report. It seems in the restaurant sector, diversification is the name of the game.
A 2020 trend article wouldn’t be complete without mention of mobile apps, which empower diners to place orders and pay for meals directly from their homes/tables. This hands-free solution is important for social distancing, as well as greater separation from food preparation areas. Having a mobile application for a restaurant is a must, and at BizPappa, we’re creating custom apps for restaurants who are ready to enter the world of online ordering. Learn more about how we can help, here.
Finally, it seems third-party delivery services are here to stay for good. 40% of restaurant owners claim they wouldn’t be able to stay afloat without partners like Uber Eats, DoorDash, and more. Curbside pickup is also a frequent flyer on the value chain that restaurant owners don’t see going away, any time soon.
Regardless if you’re a seasoned owner or thinking about buying into a franchise, the trends evolved during COVID-19 within the restaurant industry are more than likely here to stay, for good. Owners must take it upon themselves to step into the light of upgrade, if they plan to exist throughout (and after) the global pandemic.
To learn more about how BizPappa can help you buy, sell, and upgrade your restaurant business, contact us today!