“Jean Hagan, Principal of KROST CPAs & Consultants has owned, operated, and consulted in the restaurant industry for more than 30 years. During that time, she worked with a well-known national chain; owned a food and beverage company that operated multiple restaurants, bars, and event spaces in the Squaw Valley area; and became the president, CEO, CFO, and shareholder of one of the highest-grossing restaurants in California. Today Jean is Principal and leads the restaurant operations consulting practice at KROST. She is also an Adjunct Professor of Restaurant Operations and Management Strategies at the Culinary Institute of America.
“The general assumption is that the restaurant industry will not get back to full capacity until a year from now. Assuming that travel will be back to normal by December 2020, we could assume that restaurants will be about 80% of their previous years’ sales by that time. Travel transportation has to get back to normal and travel reservations have to catch up as well; late December 2020 seems like a realistic goal to be at 80% of 2019 sales. We also do not know what the restrictions of the various city and county health departments will be for relaunching, but it is not a stretch to assume that they will want the six feet of separation, meaning that your capacity will be reduced.” – Jean Hagan
We continue our conversation with Jean Hagan with a look toward the future of dining out and what restaurants can do now to be better prepared.