Quote:
Originally Posted by WarrenC12
There's a lot of churn on Broadway for sure, amongst a certain segment, probably paying current high lease rates. Others seem to keep going no matter what, again probably on long term leases.
It's also hard to tease out COVID vs. construction as the main cause for businesses that suffer. It could be both. Even if we consider COVID to be "over", a lot of businesses that didn't pivot to an online order/pickup/delivery model won't make it too much longer.
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Actually I read recently that as much as the online/delivery model was a lifesaver for a lot of restaurant businesses during the pandemic, it's more recently become a bane for those that have come to rely on it as a big part of their revenue streams now.
Aside from the prohibitive and punishing charges/percentages taken out by the delivery services (the SkipTheDishes, the DoorDashes and the UberEats...et al), a lot of restuarants haven't been able to reconfigure their staffing numbers (Read: hire more people) to deal with the extra online orders, food preparation and packing for those orders for delivery - which means that a lot of them have had to deal with staffing shortfalls for the in-house customers, as the existing staff are over-stretched dealing with both in-house orders and online.
In some places (like quite a few Tim Horton's locations for example) you can actually see them struggling in real time to deal with both, while trying to fill those online orders.
Unless you were a restaurant that already had an inhouse delivery service and system (and therefore the associated costs were already factored into your overhead), then you're likely struggling as much with this new hybrid model rather than benefitting from it.
The sad part of a lot of eateries is that because a lot of people haven't gone back to their dining out habits from pre-covid days, in-house dining numbers are still lagging behind what a lot of restaurants need to survive (especially with current Inflation issues), so they're still heavily reliant on the online order and delivery system - as much as it may hurt their foot traffic business.
You'd think the online service system would have been a lifesaver for a lot of these mom-and-pop spots, but chances are that it just as likely killed quite a few as did the pandemic.