US Restaurant Industry Receiving Much Needed Boost

April 3, 2020,

Dining with friends and family at your favorite neighborhood restaurant can be the ultimate positive social experience.

So many incredible life long memories have been created there.

It has so often been chronicled on film as the restaurant scene. So many classics.

“All the awards in the world, you can get into all the nightclubs, they'll send you the nicest clothes. Nothing better than walking into your dad's restaurant and seeing a smile on his face and knowing that your mom and dad and your sister are real proud of you.”… Lady Gaga

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We sense that, despite the recent pandemic, the great restaurant dining experience will continue for generation after generation to enjoy. It’s the essential human experience.

Restaurants are very creative and resilient.

Recently the restaurant industry has taken a big hit. Starting right here in San Francisco.

As reported by the San Francisco Chronicle, “Mass layoffs are tearing through top-name Bay Area restaurants like the French Laundry, Delfina, Mister Jiu’s and Spruce. Many business owners see the decisions as temporary, though they admit the path to re-opening, let alone re-hiring, remains unclear. They also fear what the massive disruption will mean to the future of the restaurant scene.”

The San Francisco’s mayor’s office is trying to provide some relief. In their April 2, 2020 press release they shared, “The Small Business Emergency Loan Fund will provide small businesses up to $50,000 in zero interest loans. These loans will have a flexible repayment schedule and the terms will be determined on a case-by-case basis, based upon each borrower’s ability to repay. This Emergency Loan fund will expand access to cash for small businesses who may have difficulty accessing more traditional loan products, and help sustain them through the ongoing public health crisis. Applications will be made available by April 6, 2020.”

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The purpose of the Small Business Emergency Loan Fund is to support small businesses facing sudden revenue loss from COVID-19. The $10 million fund commits $9 million to a new Emergency Loan Fund, and an additional $1 million to expand the COVID-19 Small Business Resiliency Fund. The Resiliency Fund has received more than 2,000 applications since launching on March 11^th.

The San Francisco restaurant scene is not alone in being hard hit by this unprecedented crisis.

The global news source news.yahoo.com shares, “More restaurants are expected to close as the outbreak continues across America. Whether the shutdown is partial or complete, by government order or choice, owners are wondering how they will keep their businesses afloat. Some worry that without government aid, the pandemic spells the end of the restaurant industry as we know it.”

We certainly hope not. The restaurant industry has been so beneficial to so many people who previously were laid off from their higher paying jobs with benefits, as a stop gap measure even before the virus hit.

The informative news source businessinsider.com adds, “If one in five American restaurants closes, it would result in about 200,000 locations permanently shuttering. The industry employs 15.6 million people in the US, according to the NRA.”

Further, the NRA surveyed more than 4,000 restaurant owners and operators last week. About 11% said that they anticipate they would permanently close within the next 30 days.

Amid the gloom there is hope.

Great hope actually.

Large companies are taking steps to ensure the restaurant industry receives a much needed financial boost.

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WASHINGTON, April 2, 2020 /PRNewswire/ -- The National Restaurant Association Educational Foundation (NRAEF) announced today overwhelming support for the Restaurant Relief America campaign from major companies and individuals across the country. With a new contribution from The Coca-Cola Company, in just 10 days more than $10 million has been raised for the Restaurant Employee Relief Fund (RERF) to support U.S. restaurant workers financially impacted by the COVID-19 crisis.

The Restaurant Relief America campaign was created by the NRAEF with support from industry icon Guy Fieri, renowned chef, restaurateur, author, and Emmy Award Winning television Host of the Food Network's Diners, Drive-ins and Dives.

The restaurant industry has been devastated by the economic impact of the COVID-19 crisis, with workers across the nation losing their jobs and livelihood due to forced business closures. The Restaurant Employee Relief Fund was launched to help those struggling workers, with 100 percent of the monies raised going directly to impacted restaurant workers.

"Early estimates indicate that as many as five to seven million restaurant workers may lose their jobs due to the COVID-19 crisis, and many already have," said Rob Gifford, President of the NRAEF. "Support for the fund has been tremendous and we are excited to have The Coca-Cola Company join our growing group of partners who are working tirelessly to help protect vulnerable restaurant workers with their financial support."

Impacted restaurant workers can apply online for a one-time, $500 check to use towards housing, transportation, utilities, child-care, groceries, medical bills and/or student loans. These grants will be administered by the NRAEF and offered on a first-come, first-served basis. For more information on applying for financial aid visit RERF.US.

Major RERF supporters include PepsiCo, Uber Eats, Constellation Brands, Moët Hennessy USA, Ecolab, Cargill, Boston Beer Company, Shift4 Payments, P&G Professional, The Elliot Group, Davis Wright Tremaine LLP, and the Light Foundation.

About the National Restaurant Association Educational Foundation (NRAEF): As the philanthropic foundation of the National Restaurant Association, the National Restaurant Association Educational Foundation's mission of service to the public is dedicated to enhancing the industry's training and education, career development and community engagement efforts. The NRAEF and its programs work to Attract, Empower and Advance today's and tomorrow's restaurant and foodservice workforce. NRAEF programs include:

ProStart® – a high-school career and technical education program
Restaurant Ready – partnering with community-based organizations to provide opportunity youth and justice-involved individuals with skills training and job opportunities
Military – helping military servicemen and women transition their skills to restaurant and foodservice careers
Scholarships – financial assistance for students pursuing restaurant, foodservice and hospitality degrees
Hospitality Sector Registered Apprenticeship project – a partnership with the American Hotel & Lodging Association providing a hospitality apprenticeship program for the industry
For more information on the NRAEF, visit ChooseRestaurants.org.

SOURCE National Restaurant Association Educational Foundation