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If you own a restaurant franchise, it has not been easy for you lately. Even if you are doing well with curbside pick-ups or delivery mechanisms, it is not what you were looking for when you entered a restaurant franchise. Schedules have changed, delivery options have exploded, and every day brings new challenges. You are impacted, and your employees are too, with restaurants, employees, and suppliers experiencing the greatest economic downturn among industries worldwide.
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But it is not all gloom and doom in this hard-hit industry. And fostering optimism is an important part of continued and future success. Recent articles support doing things to help yourself stay positive during coronavirus. From being mindful about small joys and practicing self-compassion, optimism starts from within. These ideas may be helpful as you navigate uncharted waters, but they do not readily pay the bills or help your employees who are also struggling.
So, in addition to your personal practices of staying focused on the good, here is some industry perspective to help drive positive re-openings and support within the restaurant business.
- Most restaurants ARE open. Sixty percent of restaurant franchises have open doors. We all want that rate to increase, but it is not as bad as some industries like sports or salons. Restaurants who were able to pivot to online sales, curbside pickup, and delivery are adapting well. Pick up purchases are strong, and all states are phasing in restaurant openings early in their plans.
- Gift card sales are up. This cash influx is a blessing if revenues are down. When they are finally redeemed, the cards will bring in more and new customers who are likely to spend more than was on the card. Plus, if they never get used at all (about 12% do not), you’ve received revenue with nearly zero cost.
- It’s a hiring feast. As re-opening is phased into our local economies, you will have employees who want to return to work for you. It is a great time to use the best ones to increase sales and return customers. The service you offer going forward will be better for it.
- The world sympathizes. Foodservice workers took a disproportionate blow, but the industry understands and is helping. Through Guy Fieri’s Restaurant Employee Relief Fund, over $20 million dollars is being distributed in small grants. More than 40,000 restaurant workers, many of whom rely on their employers’ restaurants for meals, will get some assistance.
- Pent-up demand is strong. When you open your doors, be ready for the deluge of customers. Social distancing may limit the number of customers at a time, but expect that all available seats will be filled. The world may have learned to work from home, but everyone wants to return to restaurants. Even those of us who like to cook are kinda tired of limited choices and having to wash the pots. We are coming. We promise.
So hang in there. Your customers want to walk into your restaurant franchise, and they will be there soon. Stay optimistic, and we’ll be dining with you soon.
Anne Daniells is a co-owner of Enterprising Solutions, a professional services firm specializing in corporate communication and financial improvement for businesses where she shares decades of corporate and entrepreneurial experience—including franchise ownership—in her writings on business culture. She has authored hundreds of articles for publications including AllBusiness.com, TweakYourBiz.com, and MSN.com. Reach out via her website for more on where corporate culture, communication, and human architecture collide.