In the restaurant business, we learn about hospitality. We learn about finance. We learn about marketing. We learn (a lot) about operations as there are so many variables. But we learn – often the hard way – about fraud.
This has been based on the excellent piece on PwC about the restaurant sector at the end of 2017, with additional commentary from me based on developments in 2018 and my view of the market from the inside.
I’ve been running restaurants for a little over 10 years now and employees have always been a fickle bunch; here today, gone the next. It’s a sad fact of the industry that employees, especially the more junior ones, hop between jobs. Sometimes they are just doing the work to fill in and earn some cash before their next real gig comes along. Sometimes they are just lazy and go back to claim benefits rather than work for a living to improve their situation over the long term. But over the last year, and especially this year, the new recruits-cum-leavers have been the worst I have ever seen.
Likening the rise of food halls in America to Singapore’s hawker stalls, David Chang told a crowd of urbanists this week that he foresees fewer restaurants in the middle of the market. “You’re gonna see the mom and pop restaurant in New York City not vanish completely, but it’s gonna be way more difficult,” Chang said during a panel at The New York Times Cities of Tomorrow conference in Manhattan.
The hospitality industry’s average hourly pay of workers outstrips the national living wage (NLW) by 62p, a global software provider (Fourth Analytics) for the leisure and hospitality industries has claimed.