How Restaurants Can Survive (and Thrive) in Periods of Economic Turmoil | Modern Restaurant Management | The Business of Eating & Restaurant Management News

With a recession on the horizon, recent data from the National Restaurant Association found that 43 percent of restaurant owners believe that economic conditions will decline in the next six months. While the current situation for restaurants is far from good and with the rising cost of food adding to the situation, it is no surprise that restaurateurs are stressed for what’s to come. While no one can predict the future, previous recessions can teach us a great deal about what restaurants can expect during a downturn as well as give us insight into the best methods for bouncing back.

Utilize TechnologyPrior to the 2008 financial crisis, the restaurant industry was quite traditional. Very few restaurants used technology in a meaningful way beyond basic websites. It was only after the Great Recession that businesses began to uncover the power of technology by developing mobile apps, self-service kiosks, and more.

Consumer pressure will force brands to stay ahead of the game…

Gianpierre Raicovi

Gianpierre Raicovi joined Lendio in October 2015, bringing a little over three and a half years of financial industry experience to his Chief Sales Officer (CSO) role. In the nearly seven years he's been with Lendio, Raicovi has experience in all strategic and functional aspects of sales but finds building teams and culture most compelling. Now as the company’s Chief Sales Officer, Gianpierre leads all efforts that encompass SMB Success. He has helped shape Lendio's culture and has been a key leader in driving many of the organization's loan origination and revenue milestones, focusing on communication and collaboration as the main drivers.

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Gianpierre Raicovi