23/06/2020
2020- A year when the whole world stalled due to Covid-19 a.k.a Corona Virus causing a Pandemic.
The COVID-19 pandemic is likely to cut 40-50 per cent revenue of the country’s organised dine-in restaurants this financial year, according to a report. Slow recovery should begin from June, Crisil Research said in a report.
Organised restaurants account for 35 per cent of India’s restaurant industry, estimated at Rs 4.2 lakh crore in FY19.
Dine-ins are 75 per cent of the organised restaurants, with online delivery or takeaways making up for the rest.
“Once the restrictions are lifted, restaurants will have to rework their business models and overcome operational challenges. With consumers turning more health-conscious, hygiene protocols at restaurants and supply chains will need to improve materially, which will increase cost,” Crisil Research
According to data from the National Restaurants Association of India (NRAI), the Indian restaurant industry directly employs close to 7.3 million people. Of these, a large percentage includes busboys, dishwashers, line cooks and cleaners who support their families back in their villages. Their livelihoods being lost and its ripple effect on the rural areas is just the tip of the iceberg. Multiple small scale industries and businesses across the country depend on restaurants to keep their cash registers ringing. From farmers to cheese manufacturers, delivery agents to craft breweries and realty firms, the network that supports this industry is as vast as it is intricate.
“Ours is a business where income has stopped but expenses have not,”
“In such challenging times, it is not about intent. It is about lack of funds.” says the National Restaurant Association of India president Anurag Katriar.
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