Largest U.S. Franchisee Reflects on a Post-Covid Restaurant Industry

The transcript discusses labor shortages in the restaurant industry, exploring causes like unemployment insurance and childcare concerns. It examines the impact of wage increases on businesses, highlighting potential solutions like bifurcated wages. Supply chain challenges, particularly in food supply and distribution, are addressed. The discussion also covers pricing strategies amid supply shortages and consumer demand. Finally, the pandemic's impact on fast food and off-premise dining is explored, noting a significant increase in off-premise sales for Applebee's.

What is one of the discussed causes of labor shortages in the restaurant industry?

• Increased food prices

• Supplemental unemployment insurance

• Lack of restaurant locations

• High interest rates

What is a potential consequence of raising the minimum wage to $15 according to the transcript?

• Increased job opportunities for entry-level workers

• Decreased business efficiency

• Higher consumer spending

• Automation and efficiency improvements

What is a strategy mentioned for dealing with supply chain issues?

• Reducing menu options

• Increasing food prices

• Using refrigerated trucks for storage

• Hiring more staff

What is a concern about passing increased supply costs to consumers?

• It could damage brand reputation

• It might not cover the increased costs

• It could lead to a decrease in demand

• Consumers may stop dining out

How did the pandemic affect Applebee's off-premise sales?

• Sales decreased significantly

• Sales were unaffected by the pandemic

• Sales increased to almost 60% during the pandemic

• Sales remained the same

What is one reason fast food did well during the pandemic?

• New menu items

• Drive-thru availability

• Increased advertising

• Lower prices

What is a long-term benefit of the shift to off-premise dining for Applebee's?

• Higher profitability

• Increased brand loyalty

• More menu options

• Reduced operational costs