I do not recall the specific podcast or who the host and interviewee were, but I have a sticky note next to my desk that I want to throw away so I am putting the notes here in this blog. As I listen to future podcasts, mostly related to trading and the markets, I will share my notes.
Apparently we are already in a restaurant recession, which has predated the last two general economic recessions each by approximately one year. I remember the last one very well. My ex-wife and I dined with her parents almost every Friday night shortly after we were married and for the next several years, from 2005 onward until we moved to a different state. When we first started this habit, we had to wait in a line no matter which restaurant we chose. As time passed the lines became shorter and shorter and by the middle of 2007 the host of each restaurant would greet us and say something like, “have a seat where ever you would like.” The next recession was only six months away.
Without further ado, I only jotted down three things on my sticky note, and they are related to what makes a restaurant survivable in good times or bad:
1) They must serve more dinner than lunch.
2) They must serve more dine-in than carry out.
3, and most importantly) They must have more women than men being served.
The sticky note is now in the trash, and more notes to this blog are on the way.