Studying Restaurants During Covid Will Help You With Your Business Resilience

It’s both quite stunning and understandable how few people talk about Covid (unless they contract it) in 2024, and soon to be 2025. It’s still quite a shock for many people, and of course, there have been many sad stories involved with the pandemic that people are still dealing with. It’s no wonder people would rather move on, given how much we heard about it for years.

But the truth is that for businesses, at least those that survived or started after the pandemic, this period holds a rich treasure trove of insight that new entrepreneurs and owners could take advantage of. Now, there may be something of a selection bias, because some companies did everything right, tried their best, took on debt, and still had to ultimately shut their doors. 

So while we can’t necessarily draw hard and fast rules about the unpredictability of business life, and while those conditions may not be repeated (we hope, fingers crossed) anytime soon, it’s still interesting to think about what options are available.

With that in mind, let’s consider some of the keener insights businesses learned from this period:

How They Stored Unnecessary Equipment

For some, freeing up space and limiting the use of their premises was a matter of survival. When stores, restaurants, and offices had to close, the space filled with equipment, stock, or furniture was suddenly redundant. In many cases, businesses moved quickly to store or sell what they didn’t need, simply because paying for a space they couldn’t use made no sense, or transitioning it to work for more portable locations was the ideal.

Restaurants and cafés, for example, had no use for rows of tables and chairs when they pivoted to takeout-only service, and so used restaurant equipment storage to free up that area. Some sold their furniture to keep the cash flow going, and some rented parts of their premises for other legal uses at the time. 

It’s interesting how restaurants, businesses we consider to be the most static of all, still considered their tangible presence and how it could be altered to be more scaleable.

How They Built In-Roads With The Community

For many businesses, the pandemic became a turning point for how they connected with their local community and the kind of outreach they wanted to take part in. The businesses that truly understood this increased their chances of survival by cashing in goodwill, but also doing what they could for customers who appreciated their efforts.

You might remember seeing local cafés delivering free coffee to hospitals, restaurants donating meals to food banks, or small retailers offering discounts to those who needed it. These weren’t flashy marketing (even if they were a little bit), but genuine efforts to help people during tough times and many managed to create in-roads that way. 

In return, those communities gave back. When restrictions eased, customers flocked to the businesses that had shown kindness and care when it mattered most, or at least had further knowledge of who they were.

How They Altered Services & Packaging Options

Of course, with no one allowed inside the doors, restaurants that relied on in-person dining suddenly shifted to takeout and delivery for the most part. Some reimagined their menus to include meal kits that customers could cook at home, which also solved the problem of leftover inventory so they didn’t have to throw out too much. 

Retail stores that couldn’t open their doors found ways to offer curbside pickups or same-day deliveries on top of that, too. Gyms and yoga studios moved classes online, finding ways to keep customers engaged even from their living rooms. As you can see, there was a concerted effort to shift the model in line with the needs of the market, and we’re certain that this helped a number of businesses make it through month to month.

How They Worked With Government Grants & Support

No one likes to ask for a handout, but in extreme circumstances, this can be important. Some owners had to get comfortable with unfamiliar processes, like applying for grants or negotiating payment terms with lenders. Some had to discuss potential rent reprieve with landlords because ultimately, it served the building owner to have a willing business with a good history still situated where they were.

Others learned the value of working closely with accountants and advisors to understand what support was available to them and how to apply for loans. Business owners can learn that if it’s an advantage, it’s an advantage, especially during a tough time.

This is a contributed post.