Some restaurants are thriving during this unprecedented time according to Kenneth Loeb
OTTAWA, ON / ACCESSWIRE / March 19, 2021 / Kenneth Loeb is a multi-faceted business professional. While he is not in the restaurant business, he has gleaned how some restaurants are staying open and making it while others are folding. It all starts with the "do or die" mentality. Family-owned businesses like restaurants have to be flexible in this environment. Government mandates are varied. Some restaurants are open to full capacity while others are still mandated to only take dine-out or takeout orders.
Kenneth Loeb asserts that the restaurant owner has to change with the times. Failure cannot be an option. If the thrust of the business is survival by any means then that becomes the order of the day.
Successful restaurant owners have decided to take their takeout orders to a new level. Maybe takeout was only 30% of the business, now it has had to flip. Dine-in orders may have been the bread and butter - no pun intended - of the restaurant. However, money is money. During the pandemic, many restaurant owners leveled up their take-out game to unprecedented heights. Favorite sit-down menu choices became the favorite takeout choice. Maybe the quantity of the orders has been altered. The packaging can be changed and economized. Making it work becomes a creative exercise.
Ken Loeb is aware that some restaurant owners delved into meal prep. Meal prep saw a lot of gain during this time because parents were extra busy. Parents who were used to only going out to work now had to secure education for their offspring. Many times they became the teachers themselves. In comes a meal prep solution that turns a busy day of homeschooling and stay at home employment into an evening of ease. Restaurants are answering the call. Either they are preparing the meals ahead and freezing them for easy prep at home, or they are bringing the meal there freshly prepared. Either way it increases revenue and keeps the restaurant afloat when dine-in is not an option.
Kenneth Loeb notes other ways that restaurants are taking advantage of diversified requests. Your favorite sauce or salad dressing is now a separate commodity for the restaurant owner. Many restaurateurs have delved into entrepreneurship by bottling their favorite ingredients and marketing them to the masses. A Quesadilla sauce has become available for home use wherein previously you were only able to get it at the restaurant. Now the item is available in mass quantity to be delivered to your home.
It's all about keeping afloat according to Kenneth Loeb. He is no stranger to this mindset. As a commercial real estate holder, Ken Loeb has properties in both the United States and Canada. His knowledge base in business has expanded over thirty years with experience as the owner of a packaging company and much more. His entrepreneurial spirit transcends just one space.
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SOURCE: Ken Loeb