Jun 9 @ 2:00 pm - 4:00 pm
To take part in the online streamed seminars – you must be enrolled onto the ScaleUp 360 FREE Support Programme first. To find out more information – please contact Francesca Noble, our Account Manager for the Barnsley & Rotherham Area, on firstname.lastname@example.org, alternatively you can register here.
Lessons from the past: restaurant recovery in a global recession
Presenter: Mr James Ellerby, Senior Lecturer at Sheffield Business School
What will we cover?
Covid-19 has significantly impacted restaurants and the wider hospitality industry. Although initial easing of restrictions has begun and there are potential timeframes for restaurants to open their doors to customers once more, the Covid-19 pandemic will surely have long term implications for the hospitality industry and the road to recovery may be slow. Reflecting on the impact of previous recessions and how restaurants adapted to survive can help businesses consider how best they may develop their own strategies to overcome the current crisis.
We start by exploring the impact of the last global recession and specifically how the restaurant industry was affected. This will include how the impact differed between limited service restaurants and full service restaurants.
The spotlight then shifts to exploring how restaurants have historically adapted their strategies and reacted to the pressures of economic recession periods in order to improve performance. These actions include the pros and cons of cost cutting, as well as the value of innovation, maintaining marketing activities and CSR.
The format then moves to a conversation with the renowned chef and restaurateur Max Fischer, from Fischer’s Baslow Hall. Max has 50 years’ experience in hospitality, holding a Michelin star for 25. Max will be sharing his experiences in detail with our head of hospitality, Dr David Graham, who is himself an ex restaurateur and café owner. We then open up the session to attendees to share their thoughts and engage in a Q&A with the panel.
What will I learn?
– The impact previous economic recessions have had on the restaurant industry
– Ways in which top performing restaurants historically managed to survive and succeed during and following recessions
– The importance of understanding the current economic environment
– The pros and cons of cost cutting
– The importance of adaptive and flexible strategies
– The importance of innovation, marketing and CSR
Who should attend?
Any entrepreneur, director, or manager working in the food and beverage service sector.