Show 372, May 9, 2020: Jean Hagan, Principal, Restaurants Operations Consulting for KROST CPA’s & Consultants Part One

Jean Hagan of Krost CPAs and ConsultantsJean 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.”

“As discussions about the success of flattening the curve of the pandemic are encouraging everyone that we will get through this eventually, now the page turns to how do we get reopened and get our businesses back up and operating. The first thing everyone has to do is recognize that the restaurant industry after this pandemic is not going to be anywhere close to what we left off in March. Everything is going to be different for a very long time, possibly forever. The restaurant industry is a perfect filter to see all other businesses through. We are a true indicator of the overall economy, consumer confidence, and disposable income figures.” – Jean Hagan

We’ll take an informed look at the future of dining out with Jean and receive sound advice on how restaurants should gradually prepare for the return of table service.

Play

Show 372, May 9, 2020: Jean Hagan, Principal, Restaurants Operations Consulting for KROST CPA’s & Consultants Part Two

Jean Hagan of Krost CPAs and ConsultantsJean 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.

Play