As the virus known as Covid-19 (Corona Virus) continues to wreck havoc among the global population, many people are left in unfamiliar waters. In any moments of uncertainty, it is best to gather the facts to allow yourself and your business to adjust accordingly. Here is a complete guide for restaurant owners and operators in regard to the Corona virus and how it may affect your future.
What is Corona Virus
2019-nCoV (Corona virus) is the virus that results in the COVID-19 respiratory illness. According to the Centers for Disease Control and Prevention (CDC), it is unknown how easily or sustainably this virus is spreading among the global population. Although respiratory viruses are the most contagious when a person is most symptomatic, there have been many reports of the virus spreading without the infected individual showing any real symptoms. Because so much is unknown in regards to how much it is spreading, the United States is taking many precautions in order to contain it. This has included calling a National State of Emergency, the shutting down of several industries, closure of many businesses, and much more.
Can Corona Virus be transmitted through food?
At the moment, there is no evidence that Covid-19 can be transmitted through food. According to the CDC, ““Coronaviruses are generally thought to be spread from person-to-person through respiratory droplets. Currently there is no evidence to support transmission of COVID-19 associated with food.” This of course is good news for restaurant owners and operators in a time when good news is sparse.
Business Impact
The Corona Virus pandemic is unprecedented in living memory. Experts and government officials have no clue when all of this will be over, nor how negatively it will ultimately affect the economy. As officials are rushing to get ahead of the spread of corona virus, restaurant owners are finding themselves on the wrong end of the stick. Many states are no longer allowing in person dining and many if not all are only allowed to offer takeout, pickup, and/or delivery. As restaurants and bars are unable to operate normally, they are not able to generate anywhere near typical amounts of income. As a result, many have been forced to shut down and the others are doing their best to keep their heads above the water. Restaurant owners and local businesses are losing an unprecedented amount of money as the economy reacts to the spread of Covid-19.
Identifying Cost Saving Opportunities
Analyze POS Data For Cost Savings
One of the benefits a POS system provides is updated data on current trends within your restaurant. With the elimination of in person dining, smaller amounts of food and supplies should be ordered. By using the data saved within your POS data to identify which menu items are selling and which are not, you can strategically save costs by temporarily eliminating items less frequently ordered. You can then focus on what items your most loyal customers prefer, ultimately simplifying and exposing an opportunity to save costs. For more information about your POS System, click here.
Stay On Top of Stimulus Options
As Covid-19 continues to wreck havoc among local businesses, the government is aware of the mass economic impact it will have. As a local business owner, in order to fully protect yourself, you must stay on top of aid or any financial help the government is providing. Attached below are a few links to help you stay on top of any stimulus options for you and your business.
Resources:
- Find your local Chamber of Commerce
- Hospitality Cares, a non-profit for hospitality operators
- The National Restaurant Association’s COVID-19 resource page
- The US CDC’s resource page for Businesses and Employers
- https://www.shift4.com/situation/ Shift4 to Raise $200 Million to Support Local Businesses
- Forbes.com: Small Business Relief Tracker: Funding, Grants And Resources For Business Owners Grappling With Coronavirus 3
- CNBC.COM: Bank Programs for Coronavirus Relief 1
- BUSINESSINSIDER.COM: Emergency Funding for Small Businesses hurt by coronavirus 2
- FInder.com: Loans for small businesses affected by the coronavirus
- The Points Guy: Small business resources to help with coronavirus impacts
- Grants for Small Businesses – coronavirus 2
Further Build Upon Relationships Within the Community
During these unprecedented times, there comes a lot of uncertainties. However, one thing certain is the value of a local community. Taking the necessary safety precautions, it is important to support the community by partnering with food delivery and pickup services. As consumers are looking for safe options of outside food, restaurants can provide that. However, before opening up to yourself to public exposure, carefully follow all Covid-19 safety precautions. Once you are able to establish a safe environment, customers will also recognize and appreciate your dedication toward providing your service safely to the community.
The economic slowdown can be used as an opportunity to build real relationships among the community. Restaurants are in the business of selling experiences, once the pandemic settles down and the world begins operating normally again, the community will appreciate the service you provided during these unparalleled times.
