#50: How to Prepare for a Recession in Your Restaurant Business
July 13, 2022 by David Scott Peters
Let’s talk about the recession. Are you asking, “What recession?” The talking heads and our government officials are all saying we are in a state of high inflation, and we could go into recession soon. How bad a recession or how long or short lived, no one knows. While I am not an economist and am not qualified to make this statement, I am going to tell you we are in a recession.
I’ve been through enough of these cycles to feel confident in that statement.
In this episode of my podcast, The Restaurant Prosperity Formula, I am going to define the terms and indicators of a recession, and how the lessons of the past should be informing our future, including how we handle what comes next.
Listen to this episode to learn what the tried and true systems and preventative measures are for managing what comes next. Plus I’m going to share with you what the members of my coaching program are doing to gear up for what has the potential to be another knockout punch to our industry that still hasn’t stabilized.
They’re putting plans in place so they can thrive instead of feeling sorry for themselves, and I hope you’ll find inspiration from all of it.
Add 13% to your bottom line and take 2 days off/week from your restaurant: https://dsp.coach/restaurant-freedom
Watch for 3 Principles of Restaurant Success: http://www.davidscottpeters.com
Book a Discovery Call: https://dsp.coach/discovery-call-dsp
Sponsor – Repeat Returns: http://repeatreturns.com/dsp
This episode is being brought to you by Repeat Returns. If you’re a restaurant owner of a medium to high-volume independent restaurant, multi-unit or franchise operator and you’re looking for a proven and realistic solution to attract, grow, and retain customers... then you really need to visit Repeat Returns. Repeat Returns is a modern marketing platform created by a restaurant owner for restaurant owners... It studies each customer’s habits and patterns, predicts the most profitable outcome for your restaurant every single day, and deploys the marketing to make that happen. You never lift a finger. Click here to see if Repeat Returns is right for you.
Rate, Review, & Subscribe
Please rate and leave a review on Apple Podcasts, Spotify or wherever you happen to listen to podcasts. By leaving us a review, other restaurant pros seeking out this information are able to find it. I read the reviews and hearing how this information has benefited you, does wonders for me. Also, if you find any of the discussions helpful, share them! The more restaurant pros who have access to them the better we become as an industry.