New research indicates just how bad the COVID crisis has been for the restaurant industry. In fact, in the last three months, as many as 10,000 restaurants have closed nationwide.
Last week, the National Restaurant Association released the results of a late November survey of 6,000 restaurant operators, and as many as 79% of restaurant operators surveyed reporting that they have had reduced sales, and looking ahead, it doesn’t look much better.
Tune in to this morning’s WJR Business Beat to hear Jeff’s report on the current state of the restaurant industry:
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Good morning.
New research indicates just how bad the COVID crisis has been for the restaurant industry. In fact, in the last three months, as many as 10,000 restaurants have closed nationwide and everyday consumers have been robbed of one of life’s simple, but beautiful pleasures. That is the ability to just get out of the house and enjoy a meal out at a favorite restaurant with family and or friends.
Last week, the National Restaurant Association released the results of a late November survey of 6,000 restaurant operators, and that survey paints a bleak picture for the industry with as many as 79% of restaurant operators surveyed reporting that they have had reduced sales, and looking ahead, it doesn’t look much better.
The survey concluded that the vast majority of restaurant operators do not expect their businesses to improve in the coming few months. In fact, 75% of operators expect their sales to decrease even further.
One of the biggest reasons restaurants are being hit even harder now?
Well, outdoor dining is no longer an option given the winter weather, and that outdoor dining is what allowed many to simply stay in business and to bring in whatever revenue they did earn during the warmer months.
Worse yet, even if indoor dining were an option, consumer attitudes toward indoor dining, according to Feedback Loop, a recently released survey of 300 adults ages 18 to 75 indicated that indoor dining at restaurants is simply not an option for them. As many as 91% indicated that they were opposed to any kind of indoor dining experience.
So, knowing just how great the struggle is for our friends who own and operate restaurants, remember during this holiday season to order online and pick up a takeout from your favorite locally-owned independent restaurant during the holiday season. They need your business now more than ever.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
