This situation is unfathomable and it’s constantly shifting. Every minute, there’s new information, new challenges and lots of uncertainty. No one knows what will happen next or how long before its over.
Now’s the time to take action… to think your business through. To protect yourself, your employees, your customers, your business.
In this episode of the Restaurant RockStars Podcast, my friend and fellow industry colleague Jaime Oikle of www.runningrestaurants.com will lead us through a panel discussion focusing on what’s happening right now… loss of business, being forced to close either voluntarily or due to civic mandate, ideas on how to pivot your business, financing options, what your staff can do if hours are lost or they’re laid off and so much more.
You know that you have to think this through and that systems may be your salvation. You absolutely Must know your Daily and Weekly Break-Even Number! You must make informed decisions based on your numbers and current and future customer traffic counts. If you decide to pivot and offer door to door delivery service, will you offer this for free or charge? Will you only accept credit card payments by phone to avoid handling cash? What are the liabilities if your staff do the deliveries?
If you do “Grab N Go”, will you serve the customer or allow self-serve? Will you do curbside pickup and how will you handle the logistics?
Then there’s the fear of loss of business and being able to pay your bills.
Which vendors should take priority? Are payment plans an option with some vendors? Are you able to apply for a line of credit with your bank? Can you ask for loan concessions to ease the burden of monthly payments?
Listen to this episode of the Restaurant RockStars Podcast. It will give you lots of actionable ideas and thought provoking action to make your best decisions.
Jaime and I wish you all the best and luck moving forward. We’re all in this together, we’re a strong and resilient industry and we will persevere.
Stay with us and stay strong.
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