The outbreak of COVID-19 has impacted lives all over the world in the last few weeks. This is an uncertain time for us as a community as there is still a lot we don’t know.
With an annual turnover of approximately Rs. 4 lac crore, the restaurant industry in India provides direct employment to over 70 lac people. In this state of temporary lockdown, these 70 lac Indians are in a very precarious situation, fighting a crucial battle for their basic survival.
The industry functions on a very high proportion of fixed operating expenses; with even moderate revenue fluctuations, it makes the restaurants and related parties high-risk businesses.
Dineout and the F&B industry thrive on social gatherings, but practising social distancing is the need of the hour, and that is what we shall do to prevent this from turning into grave circumstances. Amidst this uncertainty and a country-wide lockdown, restaurants have taken a severe hit. They have either had to shut operations altogether or limit their services to takeaway and delivery options.
We are looking at almost zero revenue in the immediate term and a drop of 50% for months after that. We as a community have taken a hard call to shut down our operations in an effort to contain the spread of the virus, despite incurring financial losses in the process.
With restaurant-first being our motto, we as a partner have taken an initiative to support our restaurant partners in this crucial hour and also ensure that all of us stay safe and come out of this much stronger as a community.
Petition To Immediately Introduce Employee Unemployment Pay Cover for F&B Industry:
The F&B industry is reliant on cash-flows and maintaining its huge employee base is turning out to be a strenuous task during the shutdown, with manpower being the second largest expense. This, coupled with upcoming statutory dues, utility bill payments, EMI payments & interests, rental dues, etc. puts immense pressure on them. We realised that the need of the hour is to provide the F&B sector with immediate relief by way of deferment of these dues, to avoid wide-scale job cuts.
We have thus started a petition on Change.org, asking the Ministry of Finance to introduce employee unemployment pay cover immediately, so that no one has to worry about their salaries in this difficult time.
Please sign the Petition at https://www.change.org/ReliefForRestaurants to show your unconditional love & support for the team behind your favourite restaurants.
We are seeking your support – as a partner, a fellow industry colleague or a human being who enjoys dining out, to support the F&B ecosystem in this time of crisis.
We need a Total of 50,000 signatures to be able to present it to the Finance Minister. Help us get there.
Sign the Petition: https://www.change.org/ReliefForRestaurants
