In 2020, the Restaurant Industry was projected to do $899 billion in sales. That expectation has since been adjusted down to $659 billion in sales, a $240 billion hit to the industry as a result of the pandemic. Every operator has felt the effects of the pandemic, and the most motivated, wasted no time pivoting their business model to conform with local guidelines in their areas. As the guidelines have changed, so have business models, the way guests are served, and even the way orders are placed and received. Today, most restaurants operate in a completely different fashion than they did in 2019, for better or worse.
For instance, a popular seafood restaurant in Malibu that has spent decades feasting on highway traffic and destination travelers converted their parking lot into a drive-thru. Now, instead of a jam-packed patio on Saturday afternoon, they have a long line of cars snaking through the parking lot. Their servers are now carrying handheld devices and taking orders from patrons as they wait in their cars, and another server delivers a well-packed togo bag to the car at the head of the line. It’s almost as if they’d been operating this way for years, but this week their patio will be back open, and the whole model shifts again.
Part of adapting to the circumstances of 2020 required the acceptance of reactionary management. One of the concepts we emphasize at KROST is being proactive in how you run your business; plan, prepare, and execute. For obvious reasons, this concept went out the window for much of 2020 as we were forced to react to ever-changing guidelines and execute plans without the level of preparation that we are accustomed to. These reactionary changes often require a sacrifice. What are we gaining and what are we giving up? Whether it’s personnel, technology, operational policies, or accounting practices, these reactionary decisions can and will have a ripple effect throughout every aspect of your business. Often we see restaurant systems built on specific people and their role rather than a specific process. With so much change occurring, it is easy to lose track of the systems you had in place and why they were so important to your restaurant to begin with.
The KROST Restaurant Site Assessment was designed as a tool to help owners and operators ensure that their standards are being met and to provide them with actionable feedback to run a profitable business better. With an emphasis on financial and operational systems, our industry experts will assess the practices in place at your restaurant, dig into any anomalies or inconsistencies, and provide your team with a detailed report listing potential vulnerabilities within your operation as well as corrective actions to help you move forward.
Please reach out to Derek Johnson to find out more, or join us on February 23, 2021, at 10 AM PST, where we will discuss the devastating effects that Shrinkage, Waste, and Theft can have on your business and provide you with the tools necessary to recognize and combat them.
KROST Restaurant Site Assessment: How to Identify and Control Shrinkage, Waste and Theft
TUE, FEB 23, 2021 | 10:00 AM – 11:00 AM PST
Featured Speakers: Jean Hagan & Derek Johnson
