The pandemic has hit many quick-service restaurants hard. Although a few quick-service restaurants (QSRs) are seeing heightened demand in takeout and delivery, most other QSRs have experienced dramatic sales declines. A few restaurants have already declared bankruptcy; others report that they soon won’t be able to cover their rent and personnel costs. In the United States alone, up to seven million restaurant workers could lose their jobs by June, according to the National Restaurant Association.
McKinsey outlines how QSRs can respond to the crisis and prepare for what comes next. Here are actions to consider, both for now and for later.
‘Navigate the now’: Short-term priorities
- Protecting employees and customers
- Safeguarding the top line
- Stabilizing the supply chain
- Managing cash
- Modeling a range of scenarios
Plan the comeback: Medium-term actions:
- Preserve and grow
- Build on strengths
Shape the next normal: Long-term considerations:
- Greater concern about hygiene and safety
- Stronger demand for digital and delivery
- Shift in spending from QSRs to grocery stores
- Increased focus on supply-chain management
Read more at McKinsey.