A Global Pandemic Is Not Stopping Restaurant Entrepreneur’s
The restaurant industry has taken the hardest hits by global pandemic!
Many restaurants have closed since the start of the pandemic.
It is hard to tell how many have closed since not all businesses publicize their closures.
But among the closures, new restaurants are springing up all over the country!
And several existing restaurant companies are emerging from quarantine looking better than ever.
Who Are These People Starting Restaurants?
Who Are The Existing Restaurants Emerging Better Than Ever?
The economic woes of the COVID-19 pandemic have not deterred new businesses from working to open, nor has it stopped existing businesses from discovering ways to continue to stay open.
Who Are These People Starting Restaurants?
Some had already put plans in motion to open restaurants before the pandemic and all the closures.
Miriam Covacsis, an example- she was planning to open Broken Spoon long before the pandemic began. “Restaurants have a 90% failure rate as is, so it’s always a pandemic when you’re opening a restaurant,” said Covacs. She plans to start small when launching Broken Spoon, a new Asian fusion restaurant slated to open by mid-September of 2020.
Others have dreamed of opening a restaurant and saw an opportunity to occupy the same space, of ones that have closed.
Take Angelina’s Pizza and Ice cream, opening in the former Dairy Queen in Middletown, PA. The pizza and ice cream restaurant are having a grand opening on Sept. 5. The restaurant will sell pizza, Stromboli’s, and cheesesteaks as well as plenty of ice cream creations such as sundaes, cones, and shakes. Adding to the selections will be a full coffee bar with gourmet coffee and espresso and treats such as biscotti, cookies, and cannoli.
Do You Want To Open A Restaurant NOW?
Every Restaurant Startup Should Begin With A Plan
I am astonished and respectful of how determined many are following their dreams and goals.
That is why I started my business. I want to help people create restaurants! More importantly, I want them to succeed not just merely survive or end up in the 90% failure group.
Every restaurant startup should begin with a plan, not a “Business Plan,” but a program that thoroughly shows you what you need to do during the startup phase.
Opening a restaurant in a depressed economy due to the pandemic may seem complicated, but it must develop the same way as if there was not a pandemic.
To guarantee running a successful restaurant, you must complete the necessary steps at the beginning if you want a future in the industry.
My Seven-Step Plan will guide through what must be done. It is the plan I used to succeed, and I know it works. It will work for you if you following each step and complete the worksheets that accompany each one.
Who Are The Existing Restaurants Emerging Better Than Ever?
Here is a selection of some of the biggest winners of the COVID-19 quarantine.
Chicken Wings
Wingstop- second-quarter same-store sales rose 32%!
Chicken wing sales have emerged enthusiastically on the delivery bandwagon.
Wings are comfort food, and having them delivered to your front door during a pandemic makes them even more comforting!
Domino’s has the reputation of one of the most data-driven restaurant chains. They upgraded their chicken wing recipe to satisfy the demand for this comforting food. This tiny part of a chicken has become even more popular, even without sports.
Chipotle Mexican Grill
In February, Chipotle’s stock price hit $900 per share as it seemed to be recovering from its food-safety problems. Shutdowns due to COVID-19 sent its stock plunging, cutting it in half by mid-March.
On Aug. 19, 2020, Chipotle’s stock closed at $1,236.69, more than tripling its pandemic lows and up by a third from that pre-pandemic price.
The company has focused intently on digital sales. The pandemic, which has emphasized ease of takeout sales, now generates the unit volumes of a decent fast-casual concept. The company currently has the financial strength to go after closed locations aggressively. What a turnaround they have made in overcoming their food-safety problems!
Who Are The Existing Restaurants Emerging Better Than Ever?
Papa John’s
Few chains have seen their outlook change as drastically during the pandemic as this pizza concept. They fully recovered following the controversy surrounding founder John Schnatter.
As pizza delivery concepts surged after quarantine began, all the pizza delivery names saw strong same-store sales. Papa John’s led the way, hitting record sales last quarter, and continuing even as dining rooms reopened.
Its “Papadias” sandwiches turned out to be a hit.
And the company’s decision to partner with third-party delivery services had also worked out, generating sales the locations would not get otherwise during busy times of the day.
Wendy’s
Dave may no longer be here, but the chain continues to make him proud!
The burger chain’s decision to jump into the breakfast business was a risky one, given its previous failures with an a.m. menu.
Wendy’s breakfast, much like that of McDonald’s, was built for the drive-thru customer. Its restaurants are not even open in the early part of the morning.
However, Wendy’s breakfast has taken off. The chain’s post-breakfast sales have fully recovered. Wendy is now officially an important morning competitor.
Texas Roadhouse
The Louisville, Ky.-based casual dining chain is anti-delivery, and that has not changed. The company was without a particularly strong strategy for takeout, like many of its rivals had.
Still, its sales have been steadily improving. It quickly added curbside service to generate sales while its dining rooms were closed, a service the company now considers permanent. Things have improved so much that Roadhouse is now resuming development, which given the expected casual-dining closures, could be useful for its long-term growth.
What Should You Do If You Want To Open A Restaurant NOW?
To guarantee running a successful restaurant, you must complete the necessary steps at the beginning if you want a future in the industry.
It would be best if you approached your restaurant with a mindset of starting small but giving yourself room to grow. Let me show you HOW!
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