Restaurants are being hit really hard by the ”Stay At Home” mandate being required by the Covid – 19 risk. Many are still offering takeout, but there is no way they can keep up with their regular cash flow. There is something we can all do now to support our favorite restaurants and increase the chance that they will be around when the economy reopens.
Basic premise:
- BUY GIFT CARD FOR RESTAURANTS
- Restaurants get cash now when they need it
- Consumers can use them when things reopen
While different restaurants have different accounting practices where some get cash sooner than others. Either way buying gift cards now helps restaurants through a tough time. This particularly true of the smaller privately-owned establishments. They have overhead and need cash.
A chef that used work with me at Kraft Food Ingredients has a great restaurant in Collierville TN.
Justin Young is a really amazing chef and his Raven And Lily Restaurant was doing really well. Then the coronavirus hit. Justin has made the decision to close the restaurant short term and focus on feeding hospital staff working on the front line with #feedthefrontlinememphis. These are tough times. You can reach out to Justin and most restaurants via their websites. Some have links to order gift cards, and if they don’t, requests for cards can be arrange via text or email.
One thing that Susan I like to do is to use gift cards for a portion of the bill, so that when we use them, it doesn’t hurt the restaurant’s cash flow on the back end. . The purchase of a gift card now is welcomed cash. The problem for many restaurants will be that when the cards are used in the future, they take a hit. So if our bill is $100, we use a gift card for $50 and a credit card for $70 ($50 towards the bill and $20 for a tip). Another thing to remember when you use gift cards is to tip the waitstaff on the full amount of the check, not the net amount after using the gift card.
Justin makes an amazing Bordelaise sauce. He has shared the recipe with me, but there is something special about the way he makes it. Buying some gift cards now is an investment to help restaurants through a difficult time so that they are around in the future. This way, you get to enjoy that amazing sauce when things reopen.
If you enjoyed this blog and similar other stories/supper club lessons follow me on Facebook and Twitter and subscribe to get future blogs at www.impromptufridaynights.com/blog and check out my book Impromptu Friday Nights a Guide to Supper Clubs. Published by Morgan James Publishing and available through most channels where books are sold.