Brace for hard times
Pandemic will force restaurants to shut down
Industry
Pandemic will force restaurants to shut down
In 2021 more restaurants will open than they will shut down. Pandemic is forcing restaurant industry to adapt a new strategy. Traditional restaurant brands are launching delivery only brands.
Zorawar Kalra is founder of Massive Restaurants. It owns brands such as Farzi cafe, Pa Pa Ya, Masala Library by Jiggs Kalra. He
According to him the worst is over. However, newer restaurants will be smaller than before and multi purpose. He relaunched Bo Tai as Bo Tai Switch. During the it will be a gourmet restaurant. In the evening it will transform into a nightlife spot. His another restaurant Swan, will combine Italian and Japanese cuisines.
He said in an interview to Indian Express, “We’ve incurred many unnecessary costs. So we’ve come up with a way to make sure every restaurant is profitable…Our company is now doing one weekly food cost report, unlike most who do a monthly report… We’re also allowing people to work from home… We’re are not going to sign crazy rents anymore…We won’t expand just for the sake of expansion.”
He suggested four trends for the restaurant industry. One, restaurant will be smaller. Two Restaurants will control the food costs with smaller menus. Three, rents will come down. Four, cloud kitchens are here to stay.
Dig more: How can restaurants do a digital makeover Link