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 . . .
The restaurant industry has undoubtedly been one of the hardest hit by the COVID-19 pandemic. The recently passed American Rescue Plan Act includes a vital provision for some of the businesses hardest hit by the pandemic, the Restaurant Revitalization Fund (RRF). The RRF will provide $28.6 billion in grants to restaurants and bars in need . . .
One growth strategy deployed in the franchise world is when multi-unit operators acquire their own concepts and sometimes become franchisors. There are numerous examples, but relatively few successful ones. Being a franchisee is a different business than owning a concept, or being a franchisor. It doesn’t mean you can’t do both, in fact there are . . .