The Restaurant Industry contributes to the economy with an annual turnover of approximately ₹4 lakh crore and also provides direct employment to over 7 million Indians. However, due to the coronavirus (COVID-19) outbreak and lockdown, the industry is in a very precarious situation, fighting a grim battle for its basic survival.
The business model of the industry is designed in a way where the proportion of fixed operating expenses is very high, and this in such scenarios, proves to be a very high-risk model. Due to 'zero revenues' prospects in these tough times, one is uncertain about starting the business and for a substantial period of time, the fight is now a battle to retain our mere existence as commercial entities that provide jobs to millions.
Keeping this in mind, National Restaurant Association of India (NRAI) which represents the interests of over 6 Lakh restaurants across India, has launched a first-of-its-kind platform - Rise For Restaurants (R4R) - to support its members and employees.
Also Read: Mumbai-Based Restaurateurs Share Concerns About The Lockdown Effect On The F&B Business
Diners can support restaurants by buying 'virtual cash' worth ₹1000 at a flat 25 per cent discount today from an expansive list of Restaurants across India on the website and redeem it in the future against dining bills at the respective Restaurants. At the time of purchase, customers only pay ₹250. This amount will contribute towards paying the wages and salaries of restaurant employees. The remaining ₹500 is to be paid by the customer only when they dine at the restaurant.
Virtual Cash can be used within 6 long months from the purchase date, with limitless purchases and no minimum expenditure amount, blackout dates or redemption conditions. This mutually beneficial enterprise not only ensures revenue for the immediate survival of the Restaurants’ employees but is also a great way for patrons to anticipate dining out at a discount in the near future.
Some of the Restaurants that are already live on R4R program are – Barbeque Nation, Café Delhi Heights, Carl’s Jr, Desi Vibes, Farzi Café, Indigo Deli, Mahabelly, Mamagoto, Monkey Bar, Olive Bar & Kitchen, Punjab Grill, Redmango, Social, The Beer Café, The Big Chill Café, The Sassy Spoon, The Table, Zen, amongst many others.
Talking about the same, Gauri Devidayal (NRAI Managing Committee Member and Partner, Food Matters India) said, “The Rise For Restaurants program is the first of its kind created by the industry, for the industry. The NRAI has developed this entirely keeping in mind the current plight of its members and their employees. Yet, unlike any other platform offering gift vouchers etc, this is the only program which recognises the concern that customers may have regarding the future recovery of restaurants and therefore, only requests 25% of the virtual cash value upfront. We have no doubt that customers will come out to support their local favourites.”
NRAI has long commanded trust and credibility in the Indian Restaurant industry and has consistently worked to strengthen and promote this sector in India. NRAI strongly encourages patrons to do their bit and help their beloved restaurants get back on their feet. This effort as a community of enthusiastic diners will go a long way in securing a future not just for the Restaurants, but for the millions that are passionately involved with this industry for their livelihood.
We believe this is a step towards the future and it gives patrons a chance to support in the hope of being served at their favourite restaurant.
For more details and to buy Virtual Cash, visit #RiseForRestaurants website and for queries, please write at r4r@nrai.org.
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