What the industry will look like at the end of the pandemic is anybody's guess. Some experts have estimated that some 30 percent of restaurants will close for good; others say closer to 50 percent.
The services industry is gearing up to develop into a highly-customized and consumer-focused ecosystem that continually introduces innovative offerings.
The 'Restaurant India Investment & Development Summit' witnessed 1000+ attendees, 50+ top league speakers making it one of the largest restaurant industry gatherings in the last two years. With 6 keynotes, 5-panel discussions, 4 roundtables covering every aspect of the restaurant business from the supply chain, to cloud-kitchen & delivery, and expansion through franchising to raising capital and new geographies for tomorrow's growth made it the most comprehensive forum that concluded with a power-packed awards night.
But, a lot changed after the pandemic hit, with malls being closed due to virus spread to reducing the footfall capacity, restaurants started facing losses while continuing their services from such locations.
With more people now coming to Goa, the vibrant restaurant business will pick up sharply with high demand for its multi-cuisine culture in post-pandemic times and the upcoming holiday season.?
However, as far as a strict dress code is concerned, maybe it's time to evolve. But, for many, it's a long road ahead. So how do the nightclubs think of dealing with the issues of not rejecting people with certain attire, predominantly the ethnic?
The notification also explained that the annual licence fee of L-17 licence will be Rs 5 lakh for restaurants with up to 1,000 sq feet area, Rs 15 lakh for 1,001 to 2,500 sq feet area and Rs 25 lakh for above 2,500 sq feet.
Edelweiss estimates that while the entire food services market plunged 82 percent year-on-year in the first half of FY21, the contraction that organized fast casual chains such as Domino's, Burger King, McDonald's (West & South) reported was restricted to 45 percent; by September recovery was already at 85 percent of pre-covid levels.