adplus-dvertising
Connect with us

Business

Patio season is almost over in Canada. How will restaurants survive a pandemic winter? – CBC.ca

Published

 on


Summer of 2020 has seen a patio season like no other.

Restaurateurs across Canada moved quickly early in the season to create or expand outdoor dining sections, giving themselves more physically distanced capacity, and COVID-cautious customers the confidence to dine out in fresh air.

But as the lazy, hazy days of summer draw to a close, fear of failure is surging.

“My wife and I both operate the business, and we aren’t really sleeping too well,” said Matthew Senecal-Junkeer, owner of The Birds & The Beets in Vancouver’s Gastown neighbourhood. The restaurant typically only has four to six outdoor seats, but this year the city allowed the couple to transform four parking spaces into a 50-seat patio.

“We were hitting capacity, we had every table virtually filled in our restaurant,” said Senecal-Junkeer. “We just had a little preview of what winter could be like when we had a three-day rainy streak in Vancouver, and it meant about a 42 per cent decline from what our sales were the week prior.”

Survival at stake

In Windsor, Ont., John McKibbon is also worried.

“I’d be lying if I said we don’t have anxiety going into the fall and winter,” said McKibbon, who co-owns the Sandbar Waterfront Grill as well as John Max Sports & Wings.

“We’ve had people come to the restaurant wanting to sit outside, and when we’ve been full outside and only had tables indoors, some of those customers have decided not to dine with us that day,” he said.

McKibbon and his partners transformed an outdoor volleyball court at one of their two sports bars into a physically distanced patio on the sand.

A volleyball court at John Max Sports & Wings in Windsor has been converted for patio dining. (Submitted by John McKibbon)

“We think the loss of the patios will have a pretty dramatic effect on our sales,” he said. “There are different levels of anxiety with everyone.”

Canada’s food service sector typically employs 1.2 million people, and prior to the pandemic, served 22 million meals a day across the country, according to industry data.

Statistics Canada recently released the results of a May survey on business conditions. The Canadian Chamber of Commerce crunched the numbers with a focus on restaurant operators, and concluded that 60 percent of participants don’t expect to survive more than three months with the current physical distance restrictions in place.

Already a significant number of restaurants across Canada have closed permanently.

Chamber president and CEO Perrin Beatty urged Canadians to take political action to encourage further financial support of the industry. “Everyone also needs to remind their elected representatives of the importance of our restaurants in our lives,” said Beatty in a press release.

‘We’re not health experts’

The Chamber has teamed up with 60 of the best-known restaurant brands in Canada, along with other hospitality organizations, to launch a campaign called Our Restaurants.  It’s also produced an ad promoting the industry on social media platforms.

But the industry’s own association, Restaurants Canada, is hesitant to push too hard to relax seating requirements, especially as a second wave of the virus begins to build.

“We’re not health experts,” said Mark von Schellwitz, Restaurant Canada’s vice-president for western Canada. “But a number of members have approached us to point out that the World Health Organization guidelines for physical distancing is one meter, not two meters. If we had a one meter distance instead of two that obviously would increase our capacity, and that would be really helpful.”

Von Schellwitz is part of a hospitality industry group that is lobbying the federal government to launch a national campaign to boost consumer confidence in dining out. He pointed to a program in the United Kingdom called “Eat Out to Help Out,” where dine-in customers could receive a 50 per cent discount on their meals throughout the month of August, up to £10 (about $17) per person.

The program ended up costing the government more than expected, as millions of Britons jumped at the incentive, running up a tab of £522 million ($900 million).

Matthew Senecal-Junkeer of The Birds & The Beets restaurant in Vancouver. (Submitted by Matthew Senecal-Junkeer)

But in Vancouver, Matthew Senecal-Junkeer is counting on one thing: his landlord.

“They are asking for full rent now,” he said. “And we’ve had the wage subsidy and we had the patio, so we were able and willing to pay it. But I indicated to them yesterday that look, come October, it’s not I’m saying I don’t want to pay — it’s just there simply is no cash in the bank.”

Calls for more support

The Canada Emergency Wage Subsidy has helped many restaurateurs, and has been extended until December, but the Canada Emergency Commercial Rent Assistance program expired at the end of August.

Based in Charlottetown, PEI, Kevin and Kathy Murphy own 16 food and beverage operations in three Atlantic provinces, along with the Prince Edward Island Brewing Company. Patios have always been a big part of their business, but they’ve already closed down their Fishbones Oyster Bar & Seafood Grill early for the season, and are thinking hard about others.

During the summer of 2019, the patio at Sims Corner Steakhouse & Oyster Bar was bustling. This summer the pandemic has meant fewer paying customers. (Murphy Hospitality Group)

“Do we need three restaurants in one street?” asked Murphy. “So we’re thinking, do we close one in October or November? And just go with the other two? We’re also looking at days of the week. Do we go to five days a week versus seven days a week?”

PEI has enacted some of Canada’s strictest policies related to the COVID-19 pandemic, allowing restaurants a maximum of 50 patrons at any time, regardless of a venue’s size.

Murphy and other tourism entrepreneurs in the area have banded together to lobby the government for further financial support.

“You do what you have to do to survive and put plans in place to get there,” says Murphy, noting that the industry has always been characterized by resourcefulness and creativity. But he also has a warning for restaurant lovers across the country, about how entrepreneurs have to approach business: “You will not stay open if you’re not making money.”

Let’s block ads! (Why?)

728x90x4

Source link

Business

Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

Published

 on

 

Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

Published

 on

Product Name: All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

Click here to get All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store at discounted price while it’s still available…

All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.

All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.

(more…)

Continue Reading

Business

CPC Practice Exam

Published

 on

Product Name: CPC Practice Exam

Click here to get CPC Practice Exam at discounted price while it’s still available…

All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.

CPC Practice Exam is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.

(more…)

Continue Reading

Trending