More than 10,000 Texas restaurants have already closed and with business conditions deteriorating 30% percent of Texas operators say it is unlikely their restaurant will still be in business six months from now, if there are no additional relief packages from the federal government.
- 85% of Texas operators say their restaurant’s profit margin is lower than it was prior to the COVID-19 outbreak.
- 79% of Texas restaurant operators say their total dollar sales volume in October was lower than it was in October 2019. Overall, sales were down 24% on average.
- 62% of Texas operators expect their sales to decrease from current levels during the next 3 months. Only 8% of operators expect their sales will increase from current levels during the next 3 months.
- 60% of Texas operators say their restaurant’s total labor costs (as a percent of sales) are higher than they were prior to the COVID-19 outbreak.
- 75% percent of Texas operators say their current staffing level is lower than what it would normally be in the absence of COVID-19. 65% percent of restaurants are currently more than 20% below normal staffing levels with an estimated 150,000 restaurant employees still on the sidelines.
- 26% of Texas operators expect their staffing levels to decline during the next 3 months. Only 9% of operators expect their staffing levels will rise during the next 3 months.
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Source: National Restaurant Association, national survey of 6,000 restaurant operators conducted November 17 – 30, 2020