Industries worldwide were hit hard, but the food and hospitality industry was hit the hardest, with employment dropping by 86%, down 750,000 jobs, about 6.1% of its pre-COVID levels.
Eating and drinking establishments are the primary driver of the total restaurant and food service industry. A recent survey found that 44.25% of people eat out at least one day per week. With menu prices going up and wait times getting longer due to inflation and staff shortages, customers are getting frustrated.
It’s a high-tech world, with each day bringing with it another innovation at lightning speed. In the restaurant business, it’s time for an upgrade. Less wait time translates to faster table turnover, and restaurants can bring in an additional $30 per table per night. For a restaurant with, say, 50 tables and 50 locations across the country, this would be a huge uptick in profit.