Episode 50

How to Prepare for a Recession in Your Restaurant Business

Published on: 13th July, 2022

Let’s talk about the recession. Are you asking, “What recession?” The talking heads and our government officials are all saying we are in a state of high inflation, and we could go into recession soon. How bad a recession or how long or short lived, no one knows. While I am not an economist and am not qualified to make this statement, I am going to tell you we are in a recession. I’ve been through enough of these cycles to feel confident in that statement. In this episode of my podcast, The Restaurant Prosperity Formula, I am going to define the terms and indicators of a recession, and how the lessons of the past should be informing our future, including how we handle what comes next. Listen to this episode to learn what the tried and true systems and preventative measures are for managing what comes next. Plus I’m going to share with you what the members of my coaching program are doing to gear up for what has the potential to be another knockout punch to our industry that still hasn’t stabilized. They’re putting plans in place so they can thrive instead of feeling sorry for themselves, and I hope you’ll find inspiration from all of it.

Add 13% to your bottom line and take 2 days off/week from your restaurant: https://dsp.coach/restaurant-freedom

Sponsor – Repeat Returns: http://repeatreturns.com/dsp

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About the Podcast

The Restaurant Prosperity Formula
For Independent Restaurant Owners
If you’re ready to stop being a prisoner in your restaurant and finally have the life you’ve been working for, you are in the right place. Podcast host David Scott Peters has been coaching restaurant owners since 2003 how to transform their restaurants and their lives by becoming the leader their restaurant requires for success. He has taught thousands of other restaurant owners how to do less and lead more, how to delegate and trust their teams, and use task-based systems to make it all work. The lessons he teaches and the solutions for the moment he offers are based on his Restaurant Prosperity Formula. To learn more about David and his formula, visit davidscottpeters.com or pick up a copy of his book, "The Restaurant Prosperity Formula: What Successful Restaurateurs Do."

About your host

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David Scott Peters

David Scott Peters is a restaurant coach and speaker who teaches restaurant operators how to cut costs and increase profits with his trademark Restaurant Prosperity Formula. Known as the restaurant expert in the industry, he uses a no-BS style to teach and motivate restaurant owners and managers to take control of their businesses and finally realize their full potential. Thousands of restaurants have used his formula to transform their businesses.