Since the Federal Government ordered the closure of pubs, bars, sports clubs, night clubs, restaurants and other licensed venues earlier this week to restrict social gatherings, I have been speaking with many of my clients over recent days ensuring that they are doing everything possible to minimise the impact of this forced closure.
Our industry is known to be extremely vast given the number of people it employs and serves. However, ironically it is also considered to be extremely small and very susceptible to market volatility.
Like all of the past road-blocks the hospitality industry has overcome (and there have been many), I am confident that this significant impact will end with a similar positive outcome; particularly if we remain unified and share ideas and strategies for now and the future.
The undisputed priority for all of the operators that I have spoken with is the well-being of their employees, and that they will be provided with some assistance via the federal governments economic stimulus packages.
I’d also like to take this opportunity to share with all the venue operators / owners on this platform some ideas your peers are implementing to minimise costs whilst trying to maximise revenue during this tough period. Obviously, these ideas are not for everyone but I thought compelled to share.
The actions your peers are implementing include:-
1. Provide home delivery service both food and alcohol where possible under your licence;
2. Accessing the proposed government stimulus;
3. Discussions with financiers regarding the deferral of loan repayments or asking for a higher loan overdraft;
4. Making use of the shut down to upgrade facilities via small renovations or refurbishments
5. Keeping bottleshops operating (if possible), which assists with keeping some staff on and maintaining some revenue;
6. Upgrading websites and uploading takeaway menus allowing people to order online. Focus towards low cost comfort food.
7. Operators requesting staff to come to work to assist with the removal of old furniture / equipment, cleaning back of house areas and bar areas, preparing a venue for reopen.
8. Small bars and restaurants returning unopened stock to suppliers where / if possible - you should confirm that you will be entitled to a refund for this before returning it;
9. Increasing after hours security for the venues;
10. Selling frozen food products to public at discounted prices;
11. Minimising outgoings
           - Electricity, turning fridges off, turning gaming machines off (albeit against some recommendations)
           - Cancel / postpone monthly subscriptions and services
           - Insurance asking their brokers if any assistance can be provided (re: policy)
If you are a multi-venue operator, an employee or an owner operator within this industry then please like / share this post or even better still add comments regarding the actions you or your group are implementing to best navigate through this tough period.
Let’s all aim to come out of the period as a unified industry with the same purpose, ensuring that we are able to get back to business as soon as we are able.