#12: Restaurant Management Tips for Independent Success in 2021
January 13, 2020 by David Scott Peters
I'm so excited for this new year, for 2021 to be here. I want to look forward and talk about your opportunities in this new year.
In 2020, when the pandemic first hit, the restaurant industry was on pace to have a banner year. Sales were soaring for almost every restaurant operator in the U.S. It also brought on rising minimum wages across the country, with $15 per hour wage starting with much of the west and east coast states.
Then in late March came the business restrictions and, for some, total shutdown. I believe that after the first two weeks, about 25 percent of all independent restaurants shut their doors because they only had two weeks of cash flow in the bank. Then months in, industry publications talked about 30 percent of restaurants had to close their doors, most forever.
After the second major wave of COVID made a push across the country and restaurants were being constricted once again, it is my feeling that 40 percent of restaurants were going to be closed by the end of 2020.
Now that the U.S. government has provided some relief at the 11th hour with more PPP money, I hope you get your name into your bank and get the new PPP funds for your restaurant as fast as you can. The three months of PPP funds buys us more time as many restaurants are already on life support.
While the crisis is not over, there are some positive signs that 2021 can be a year of recovery and stability. It’s possible restaurants can get things back on track and make money, just like they were at the start of 2020.
Please tune in to this latest episode of my podcast to hear how you can make the best of 2021 and how it starts with you getting out of your own way. In this episode I share the key strategy for getting stuff done – especially the stuff entrepreneurial restaurants owners consider painful, such as the important day-to-day activities that must be repeated every day.
I provide examples of restaurant owners who found the right person to pick up this work in their restaurants and what they looked for in that person.
Don’t forget to tune into my past podcast episodes, especially to hear the interviews with other restaurant owners who are making the most out of the hands they were dealt in 2020.
- Episode 11 features Karen Fagnilli, restaurant an inn owner in Ohio.
- Episode 9 features Steve Eller, restaurant owner in Idaho.
- Episode 8 features Emmy Barnick, restaurant owner in North Dakota.
Their stories are real and inspiring.
There’s no better time that now to get motivated to change how your restaurant operates.
Look, if you want to make 2021 and beyond the best years of your restaurant, you need to implement systems, and you must have someone who will ensure it all gets done.
On a side note, if you need help with the systems and/or need help developing your implementer. Make your way to davidscottpeters.com to book a discovery call with me.
This episode is being brought to you by The Catering Coach. If you are a restaurant owner now more than ever, you need catering as a profitable, proven multiple revenue stream. But right now, who has the time to establish all the checklists, systems, packing lists and proven methods to grow your catering business? And who are your catering customers when there are very few catering events? You need The Catering Coach. Sandy Korem, the catering coach, and her team will show you the path to immediate catering profits by taking out all the guesswork of what works right now in this ever-changing world. Catering is not what it was last year, but catering is still profits, profits, profits. Learn the systems, learn the checklists, learn the out of the box methods that successful restaurateurs are using right now to be catering profitable. Click here to see if The Catering Coach is right for you.
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