Friday, February 26, 2021, New Delhi: National Restaurant Association of India (NRAI) conducted its first industry event of the year 2021 today at 12noon on Facebook live. This virtual event, aptly titled ‘Redesigning the Restaurant Business Model in 2021’ was aimed at identifying and discussing the changing dynamics of the Industry in post-COVID era and the way forward for a brighter 2021!
The event provided an insightful and informative opportunity for entrepreneurs and people who are zealous about the Restaurant Business. The Industry stalwarts discussed about the new norms in the post-COVID era to take Restaurant business forward, make it more vibrant and profitable.
Anurag Katriar, CEO & Managing Director of deGustibus Hospitality; President of NRAI moderated the Leader’s panel with Industry Stalwarts like Riyaaz Amlani – CEO & MD, Impresario Entertainment & Hospitality Pvt Ltd, Rahul Akerkar – Founder & Managing Partner, Qualia Hospitality LLP, Sagar Daryani – Co-Founder & CEO, Wow! Momo and Wow! China, Gauri Devidayal – Partner, Food Matters India, Sameer Puri – Owner, Ranch Cuisine Concepts Pvt Ltd and Arvind Singhal – Chairman & Managing Director, Technopak Advisors Pvt Ltd.
The esteemed panel discussed the new dynamics of the Industry like Marketing in the post-pandemic world, new communication tools, which segments seem safest in the current times for expansions, major safeguards required to insulate ourselves for such unexpected eventualities like pandemic, how to manage the P&L and cash flows under the current circumstances and when do we see return of “normalcy” and much more.
Anurag Katriar, President of NRAI, CEO & Managing Director of deGustibus Hospitality said, “Through this event, we tried to decipher the challenges and opportunities in the post-pandemic era for the Restaurateurs and give them some practical insights into how to manage the changing dynamics and landscape in post-COVID era. A lot of fresh ideas and perspectives were shared which I am sure will be very useful for them and will further help boost innovation within the industry. I am very grateful to all the panelists for sharing such great insights, thoughts and inspiration.
He further added, “We have spoken enough about the crisis in last one year and now is the time to look ahead and explore opportunities. We may need to redesign our offerings and retool our business models but it is absolutely incumbent upon to move beyond the pandemic-induced status quo and regain our lost vibrancy”.
Some of the highlights of the event are as follows:
Sagar Daryani, Co-Founder & CEO, Wow! Momo and Wow! China who opened more than 50 outlets during the pandemic, said, “Think Differently, Go Lean, Multi-tasking and Consistency is the way forward. Give the right food and food quality and the customer will come again and again. Become a part of your customer’s social life and make food fun. Go hybrid model!”
Riyaaz Amlani, NRAI Trustee and CEO & MD, Impresario Entertainment & Hospitality Pvt Ltd said “I don’t want COVID to be a watershed moment for our Industry. Work on your business model to make it more profitable and sustainable. Corona has taught us how to manage more efficiently with our people. We need to develop a viable alternative to aggregators. Use your own fleet for delivery. Remember these 3 Important Ds for a sustainable business – Delivery, Discovery and Digital mechanism.
I urge all Restaurateurs to come together and join their respective NRAI City Chapters to strengthen the Association as we need to stay united and lobby with the Government to create favourable situations for the Industry like getting an Industry status, Licensing to be made easier, 24/7 operations to be a reality, Drinking age to come down from 25 to 21. “
Arvind Singhal, Chairman & Managing Director, Technopak Advisors Pvt Ltd said, “It’s about making sure that every element falls in place. Don’t get your eye off the product which is Food! Just focus on product consistency, innovation and quality.”
Gauri Devidayal, Partner, Food Matters India said, “Reduce your dependency on aggregators by expanding your delivery radius through your own fleet. Focus on growing your revenue by cross utilizing your resources across brands. Also, since people are spending long hours on their phone, invest in digital marketing of your brands.”
Rahul Akerkar, Founder & Managing Partner, Qualia Hospitality LLP said,“True Hospitality is to make someone feel at home. Run a tight ship in terms of food cost, use and source local ingredients which are seasonal as much as you can. Keep menu offerings simple. Touch people’s hearts with food. Go vocal for local!
Keep in mind three things for a profitable and sustainable business – Occupation, Labour and Cost of Goods Sold. Watch wastages, spoilage and cost utilisation.”
Sameer Puri, Owner, Ranch Cuisine Concepts Pvt Ltd said, “Pandemic has made us wiser. Create menus which are smaller, cost effective and can be delivered to peoples’ homes. Caterers have ventured into delivery like buffet in a box sent with a service boy to their homes. Keep yourself visible and cost effective.” The Moderator, Anurag Katriar concluded the event with a heart warming message to all the Restaurauteurs that “We need to again get back to the joy of being a Restaurateur.”
