ADVERTISEMENT

Will NJ Restaurant industry recover?

There are going to be very hard financial times ahead for alot of people.
 
Even if you go to skeleton group for takeouts only and you dont deliver you still gotta pay rent, utilities, the kitchen staff you do have and your food inventory depending on if you are casual or fine dining...i expect fine dining to be hit the hardest even when things go back to norm months from now people just wont have excess money to go spend a few hundred dollars on a fri or sat night.
 
Did takeout from one of our favorite places last night, will likely do the same thing another night this week.

Yeah that is a good idea. Also if there are any new places nearby that are saying open for takeout, now would be a good time to give them a try.

Also saw a recommendation to purchase gift certificates from local places where you know you will eventually use it to help their short term cash flows.
 
It all depends if the restaurant owner had a reserve and could withstand an extended closure. I've seen some restaurants that have re-purposed their business to offer take-out (limited menu) and using some of their staff to deliver. Proactive social media, etc. There will be a shake-out and wonder if the federal or state government offers relief as well (short term loans, etc.).

Was having this discussion this weekend in terms of what businesses will suffer, rebound or even do better.

We have become a fulfillment society (Amazon, etc.) and this will only give people another reason to use these services which do not seem to have let up (in fact I read that Amazon is hiring thousands right now).

You can predict companies that offer turn-key WFH capabilities.

Travel and tourism will take a hit an take time to rebound although with people forced to stay home there might be some pent up demand to get out of town once there is consumer confidence.

Meeting planning and entertainment as well. The minute it's safe to go back into an arena/stadium, there will be packed houses. Sports gambling...will probably spike when the first game is played. Companies will go back to their travel/meeting schedules although they might look more at Skype and webinars.

In healthcare, telemedicine adoption and growth will likely grow dramatically (which is a good thing as it will have a major impact on reducing the cost of care while improving outcomes). Personal protection/care will be looked at hard to ensure that we have a pipeline and stockpile.

Anyone notice gun sales have mushroomed? Don't expect any meaningful gun legislation by the next President and Congress.
 
Yeah that is a good idea. Also if there are any new places nearby that are saying open for takeout, now would be a good time to give them a try.

Also saw a recommendation to purchase gift certificates from local places where you know you will eventually use it to help their short term cash flows.
And call in orders directly to said food establishment vs using any app delivery services where portion of the bill goes to them and silicon valley
 
It all depends if the restaurant owner had a reserve and could withstand an extended closure. I've seen some restaurants that have re-purposed their business to offer take-out (limited menu) and using some of their staff to deliver. Proactive social media, etc. There will be a shake-out and wonder if the federal or state government offers relief as well (short term loans, etc.).

Was having this discussion this weekend in terms of what businesses will suffer, rebound or even do better.

We have become a fulfillment society (Amazon, etc.) and this will only give people another reason to use these services which do not seem to have let up (in fact I read that Amazon is hiring thousands right now).

You can predict companies that offer turn-key WFH capabilities.

Travel and tourism will take a hit an take time to rebound although with people forced to stay home there might be some pent up demand to get out of town once there is consumer confidence.

Meeting planning and entertainment as well. The minute it's safe to go back into an arena/stadium, there will be packed houses. Sports gambling...will probably spike when the first game is played. Companies will go back to their travel/meeting schedules although they might look more at Skype and webinars.

In healthcare, telemedicine adoption and growth will likely grow dramatically (which is a good thing as it will have a major impact on reducing the cost of care while improving outcomes). Personal protection/care will be looked at hard to ensure that we have a pipeline and stockpile.

Anyone notice gun sales have mushroomed? Don't expect any meaningful gun legislation by the next President and Congress.
Amazon gonna thrive, saw they seek to hire 100k during this climate
 
It all depends if the restaurant owner had a reserve and could withstand an extended closure. I've seen some restaurants that have re-purposed their business to offer take-out (limited menu) and using some of their staff to deliver. Proactive social media, etc. There will be a shake-out and wonder if the federal or state government offers relief as well (short term loans, etc.).

Was having this discussion this weekend in terms of what businesses will suffer, rebound or even do better.

We have become a fulfillment society (Amazon, etc.) and this will only give people another reason to use these services which do not seem to have let up (in fact I read that Amazon is hiring thousands right now).

You can predict companies that offer turn-key WFH capabilities.

Travel and tourism will take a hit an take time to rebound although with people forced to stay home there might be some pent up demand to get out of town once there is consumer confidence.

Meeting planning and entertainment as well. The minute it's safe to go back into an arena/stadium, there will be packed houses. Sports gambling...will probably spike when the first game is played. Companies will go back to their travel/meeting schedules although they might look more at Skype and webinars.

In healthcare, telemedicine adoption and growth will likely grow dramatically (which is a good thing as it will have a major impact on reducing the cost of care while improving outcomes). Personal protection/care will be looked at hard to ensure that we have a pipeline and stockpile.

Anyone notice gun sales have mushroomed? Don't expect any meaningful gun legislation by the next President and Congress.
I imagine the summer season at jersey shore is going to be significantly impacted
 
very sad, a little pastry/coffee place next to me in ny had their "soft opening" today. had the sign out and everything. they might close before even making a sale.

what can you do?
 
Conversely, the butcher and fishmonger in our town are having record sales. Customers are buying and packing by meal and freezing. And they are not having supply chain issues. Restaurants that can reposition to a take-out model stand a better chance to survive.
 
Conversely, the butcher and fishmonger in our town are having record sales. Customers are buying and packing by meal and freezing. And they are not having supply chain issues. Restaurants that can reposition to a take-out model stand a better chance to survive.
Ita a good move to cut losses. People dont want to plunge into crowded grocery stores right now. Our italian place downstairs told us they have xyz things that they can sell us
 
Conversely, the butcher and fishmonger in our town are having record sales. Customers are buying and packing by meal and freezing. And they are not having supply chain issues. Restaurants that can reposition to a take-out model stand a better chance to survive.

Metro Seafood?
 
It's very sad. A lot of people working in the restaurant industry have lost their jobs at least until this crisis resolves itself but that can be a long way off.

We have also taken advantage of some restaurants that have converted to delivery or pick up only. If you live in Union County The Garlic Rose (Cranford) which is a very good upscale restaurant is promoting a $50 Dinner for four. Tried it tonight Excellent food & plentiful.

TK
 
  • Like
Reactions: HALL85
If you want to help a local restaurant buy gift cards from them to help cash flow.
 
It's very sad. A lot of people working in the restaurant industry have lost their jobs at least until this crisis resolves itself but that can be a long way off.

We have also taken advantage of some restaurants that have converted to delivery or pick up only. If you live in Union County The Garlic Rose (Cranford) which is a very good upscale restaurant is promoting a $50 Dinner for four. Tried it tonight Excellent food & plentiful.

TK
Snaketom hope you are well in recovery...thats the thing fine dining upscale places already were only getting a specific demographic and part of that is the ambience of getting great enviroment for a seated dinner and now thats gone....most floor staff at casual or fine dining is 2.55 plus tips and some places give bartenders a shift gurantee but they are also working on tips as well....any restaurants that are renting the space are gonna be in real trouble because the take out volume wont make up for what they are missing
 
I do a lot of financial consulting and inventory control work for restaurants. Some will, some won't. Pizzeria's are surviving. High end places are struggling big time, but I think when it's over they will recover the quickest as their customers are recession proof. But right now nobody's ordering steak on take out. By the time you get it home, it's not cooked how you want it. The real question is when this is all over what happens next. Can people afford to go out to eat. Will the burdens of mortgage and essential payments stop people from going out. Can wealthy people come in at this time and purchase the restaurant? At the end of the day people are going to go look to be together and go out to eat when this is said and done, the restaurants who survive this rough patch will make a killing.
 
  • Like
Reactions: HALL85
ADVERTISEMENT

Latest posts

ADVERTISEMENT