Originally Posted by Mr Nice
Expect half of all small mom & pop restaurants to fail. Even if they get 'PPP' from the government..... most of that is for employee wages.
How do you stay in businesses if you have little to zero revenue ?
What about rent, taxes, insurances, utilities, ...etc.... ?
For the record: I own a small business / LLC.
It is not easy, and sometimes small business owners have to find a job to stay above water like others too. IMO being a business owners can be a lot more stressful and paid less than working for someone.
In those mom and pop restaurants, they have to do something else right now, they need to deliver and they need to sell something different (i.e. a pho restaurant might need to sell ready to grill chicken, broth, restaurant quality rice noodle, or just the drink, in bulk, rather than fully cooked meal. They do have to layoff some of the employees or ask them to work a temporary job in grocery stores until things are better.
Alibaba did the same in China a few months back, they offer to take over restaurant employees' payroll (probably hire the owner too) during the lockdown deliver things to home, ready to cook restaurant grade stuff, or contract their kitchen for online order for these delivery.