What we learned

Last month I wrote about important issues to consider going forward from a financial standpoint. This month, I’ll focus on seven non-financial items I think we learned from the pandemic that we should take forward. 1. Multi-profit centers One thing that seems evident is that restaurants need to have numerous and varied profit centers. We […]

What Franchisors Did During the Pandemic and What They Can Still Do Now

This issue of the Monitor features the top 200 franchisees, proving once again the scope and importance of franchising in restaurants. There were winners and losers from the pandemic, but there is one constant: most franchisors tried to take advantage of the resulting dining shifts by providing new ideas, and if needed, help to franchisees. […]

What the Lenders Are Thinking

Working through the pandemic and watching the ups and downs of the financing world, I saw obvious winners and losers. The QSR world, particularly with drive-thrus, along with those with effcient takeout and delivery, were winners. There were many hard-pressed sectors of our restaurant community too, particularly independents, white tablecloth restaurants, family dining, buffets and […]

How to ensure you have enough cash for 2021

As I’ve written about many times, but bears repeating: There are a number of government programs, grants and other help that have provided cash for the restaurant industry, particularly the independent restaurant owners who have been hurt as much as anyone in the pandemic. When assessing your 2021, which is hopefully a ramp-up or at […]

McKinsey and Company survey helps predict the current state of the local restaurant industry

International consulting firm McKinsey and Company, took the Twin City restaurant community under its wing and provided a study of the current state of the local industry, both pre-pandemic and post-pandemic. Here are some of the insights they came up with, which hopefully will help you navigate the future. Special thanks to Julie Gilbert who […]