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TAKE THE RIGHT RISKS



TAKE THE RIGHT RISKS





In July, 83% of New York City bars, restaurants, and nightlife establishments weren’t able to pay full rent, according to an NYC Hospitality Alliance survey of 471 businesses. 37% couldn’t pay at all.
  • Some landlords have tried working with battered tenants: Almost 29% waived some rent. But struggling with bills of their own, most did not.
In Uganda, the situation is equally as dire with many failing to re-open due to a lack of working capital.

GOOD PLD DAYS

The restaurant business is easily a 40% margin business if well managed and within 1 week of operating a supplier is at your door asking for sale their stock to you and collect their money at the end of the day including butcheries, grocers, and employees taking daily income for work done.

WHAT HAPPENED

COVID happened! The pandemic forced governments to shut down whole industries including the restaurant and hospitality spots, throughout the 4 months, bills were pilling, and as many hadn't mastered the Online space they had to come to a complete halt. 
Meanwhile, every month came with a new bill which accumulated while some vulnerable cookwares went to waste due to non-use. 
  

CASE STUDY

A client has two restaurant outlets that prepare and sell "traditional foodstuff" as opposed to snacks. It had become a popular destination for most affluent and also health conscience consumers for a long time. Many of them also used the restaurant as a place to catch up on business and other discussions. They also offered takeaway services and made deliveries to some corporate organizations on a monthly payment model. They were a dealing of suppliers who gave them credit for items ranging from fresh produce to some dry rations and often collected their money after the restaurant made daily sales and for some weekly or monthly.  
When the Lockdowns happened our client had a number of outstanding unpaid bills from their corporate customers and equally a mounting obligation to their suppliers who also expected to collect at the end of the week or month.

LETS NNOVATE

The new normal requires a new approach to the way we do business. Save My SME is a marketplace for SME Owners to find professional help for FREE. We specialize in connecting SME Owners with Professionals to help them address the challenges of the "New Normal"

Our restaurant client case study was addressed by focusing on their eco-system, addressing questions what is working and what is not working and how it all needs to change by taking a 360 Degree view of their supply and consumption chain to firstly address the mounting Debt situation (drafted letters used to communicate to their suppliers about the situation), renegotiated the rent situation by remapped their business model by the introduction of Online Orders as a foundational part of their business model.

We are confident that moving forward they will be apart of an Online Sales model in addition to their traditional walk-in and dine customer and equally realigning their cashflows - we introduced them to our partner bank who we are confident will help them recapitalize and grow their business again.
  
We then IDENTIFY - MAP and CO-CREATE a strategy by identifying gaps and opportunities within a business ecosystem.

Save My SME - is a marketplace for SME Owners to find professional help for FREE.

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