We have been avid watchers of the restaurant industry, one of the hardest hit during the financial crisis caused by the (what we hope will be) soon-to-be-ending pandemic. Over 90,000 restaurants across the nation have closed for good since the start of COVID. That’s a huge number, folks- and devastating to the proprietors, workers, and communities who suffered the closures. When coupled with supply and labor shortages, rising food and labor costs, and the shifting impacts of COVID variants, this has been one of the worst periods ever for the restaurant industry.
Nationally, more than half of restaurant operators say it will be a year or more before business returns to normal, while more than 95% report supply shortages or delays in getting some popular food and beverage items. The restaurant supply chain is not expected to recover during this calendar year.
There is no guarantee that the restaurant industry will ever return to pre-pandemic levels.
Fortunately, there are exceptions to the tribulations facing this beloved part of the U.S. economy… here’s one. Melting Pot- a fondue restaurant chain- launched a streamlined menu and opened a new concept aimed at a younger crowd. With the new format and fewer products offered at different price points, along with support in managing costs, this is one restaurant group that is thriving!
While most restaurants are not yet out of the woods and, like all local businesses, need our support, this is a great story that shows the resiliency of the people who operate some of our most beloved neighborhood joints. Tell me about your favorite place to eat- read and enjoy!
~ Brian Kasal- The Leadership Matrix
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