Restaurant performance company Mingora has reported that 90% of CEOs it surveyed recently are expecting to see ‘significant decline’ in 2020, compared to 0% suspecting that prior to the coronavirus pandemic.
The survey, which covered 30 respondents representing approximately 1,050 stores from fast food to fine dining, showed that while 64% had been expecting to see moderate growth prior to Covid-19, now only 3% believe that will be the case.
Mingora CEO Muhammad Ali Syed revealed the figures via LinkedIn, and the survey also showed that rent negotiations are now the number one concern for restaurateurs, with safety and hygiene a close second.
Unsurprisingly, food delivery aggregators were cited as the most unsupportive partners during the crisis, with most not reducing commissions for their restaurants.
Despite the pressures associated with the pandemic, most businesses (62%) said they would not be laying off staff at all at the moment or would look to reassess this later.