meta_pixel
Tapesearch Logo
Log in
The Jon Taffer Podcast

A Message To Our Industry

The Jon Taffer Podcast

Jon Taffer

Entrepreneurship, Business

4.8602 Ratings

🗓️ 15 December 2020

⏱️ 26 minutes

🧾️ Download transcript

Summary

My message to the hospitality industry. Shut It Down with another amazing podcast... RIGHT NOW! For more Jon Taffer, visit JonTaffer.com  Follow Jon on IG: @jontaffer  Follow Jon on Twitter: @jontaffer   Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

What is your message to all these owners and the people who are really going to be affected by all these shutdowns?

0:07.0

It changes per person. It actually does because there are many restaurateurs that I would say close.

0:14.0

Close right now. Save your money. Call your landlord. Focus on solving your debt because you're not going to do revenue right now. Even if you're allowed to be open and just interior 25%, you're not going to do revenue right now.

0:21.3

Even if you're allowed to be open and just interior or 25%, you're not going to make money

0:24.9

right now. So what you need to do is focus on the future. Go negotiate with your landlord.

0:30.8

Talk to the utility companies. Do what you need to do to manage your debt. That's your priority

0:35.4

right now. So if you have to close your restaurant for three

0:39.2

months until the vaccine really hits and you can open properly, that's some restaurants need to do

0:44.3

because even if they open next month, their debt is going to take them down. So they got to focus

0:49.2

on not running the business. They got to focus on solving their debt. There are others that aren't that

0:54.1

kind of debt load, right? others that aren't that kind of

0:54.4

debt load, right? They don't have that kind of debt load, but they're bleeding money and they're

0:58.9

running out of cash. They too might want to consider closing and waiting until after the pandemic

1:06.1

ends when the vaccine hits. Because when the vaccine hits and business comes back, Corey, it's sort of like a

1:11.8

grand opening. You got to get new customers back. You need money. So I'm concerned that restaurants

1:17.4

are going to spend all their money now. And then when the pandemic is over, they won't have the

1:21.4

resources to reopen correctly. And if there's anything we've learned in the past few weeks,

1:24.7

we can't necessarily count on the government. So I think the problem changes for each, but in both cases, hold on to your resources

1:32.4

because you're going to need them.

1:34.6

I don't want to share someone else's thoughts.

1:37.6

I want to create my own original thoughts.

1:40.2

I want to create my own original solutions.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Jon Taffer, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jon Taffer and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.