6 PREDICTIONS FOR F&B BUSINESSES

by Riche Atos / January 12, 2021

Hope everything is doing well and you’re enjoying the New Year! In today’s episode, I’ve decided to dive into what I think is next for the hospitality industry in 2021. While 2020 has been such a transformational year, we can expect some great and bright things for the food and beverage industry soon! The way people eat and dine is changing and restaurants and food business owners must learn to adapt to these changes if they want to thrive. Are you excited to learn what these trends so you can apply them to your businesses? Then please, by all means, hit the play button, and let’s begin! 

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Episode Highlights:

03:26 Prediction #1 – the boom of niches and smaller size restaurants

04:59 Prediction #2 – the boom of delivery and cloud/dark/ghost kitchens

06:18 Prediction #3 – the boom of at-home dining

07:20 Prediction #4 – the boom of contactless solutions

08:31 Prediction #5 – the boom of the omni-channel restaurant

09:40 Prediction #6 – the boom of automated kitchen operations

Quotes:

04:36 On the boom of hyper-niche and hyper-local restaurants: “Small is beautiful. If you’re going to launch a restaurant in the coming years, I highly recommend not splurging money on opening big doors, opening large spaces. Figure out what that hyper niche is going to look like, and maybe even with small but beautiful and cozy restaurants.

06:18 On at-home dining: “Customers are looking for more memorable experiences with their family, they’re looking to spend more time with their family. And what’s better than having a phenomenal restaurant chef and his team come into your kitchen and cook up a storm and you enjoy your favorite food, right there in your house?”

07:20 On contactless solutions: “When I’m taking about contactless solutions, I’m talking about contact free delivery, pay at the table, curbside pickup, the ability of having customers order ahead of time and even pick-up food from a completely standalone or a separate counter, contactless payments, and even ordering thru a QR code or digital menus or screens. All of these are going to be a big part of your restaurant experience in the coming future.”

08:52 On the boom of omni-channel restaurants: “The ability to know your customer across every spectrum of the channel and what they like, what they want is going to help create more personalized experiences, so restaurant owners are going to want to know who’s ordering irrespective of the channel, whether it’s ordering at the restaurant, ordering online, ordering thru an application, either way, all of these methods are going to lead to one single customer card, so the restaurant knows who I am, what I like and then create a better experience for me the next time I’m ready to eat with them.”

09:57 Some examples of automated kitchen operations: “This could be simple stuff using technology, for example, setting up your own online ordering system… that’s a really good way to simplify that process. A second way to do this is kitchen display systems… Another way to automate kitchen operation is to invest in an FNB backend management system, one system that controls all aspects of the kitchen.”

And there you have it, my six predictions for the hospitality industry in 2021! If you know a restaurant owner or if you are running a restaurant and you’d like some help and guidance, please do reach out to us. We’ll be happy to help you and point you in the right direction.

Thank you for listening! I hope you enjoyed this episode and I’d love to hear your feedback. You can email me at hello@elevatedentrepreneur.fm and help me improve or if you have someone in mind that would be a great guest on the show, feel free to recommend them via email.

If you liked the episode, I appreciate you leaving a review on iTunes as it helps other entrepreneurs to find the show. You can also share the episode via Facebook, LinkedIn and Instagram and tag someone who you feel would benefit from the podcast!

Thanks and lots of love,

Dhiren Bhatia

  • Episode Transcript
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