Innovation is key to modern restaurant management – use government funds to do the heavy lifting
As restaurant and beverage industries continue their comebacks in 2021, one opportunity to take advantage of is the recently passed Restaurant Revitalization Fund.
Part of the American Rescue Plan, this fund will offer nearly $29 billion in federal grants to revive struggling establishments. But to properly apply and take advantage of the available funds restaurants will need to invest these dollars on solutions that ensure long-term results, mainly technology devices.
In addition to updating POS, payment transactions and processing, and mobile application development, investments in safety technologies like CO2 safety monitoring also qualify.
Your management has likely focused heavily in 2020-2021 on front of the house processes, optimization, and customer engagement. The inclusion of AI and machine learning in these areas has helped restaurants develop robust platforms to attract and retain customers while maximizing profitability too. Ongoing advancements in the delivery world will also reap benefits for brands who continue to accelerate innovation. And the struggles in adequate staffing have brought technological solutions to the forefront is solving labor shortages as well.
Facilities departments should also take advantage of technological solutions to use the federal funds to upgrade their back of the house technologies too. Upgrades to suppression systems, supply chain systems, and safety monitoring can all have immediate and long lasting impacts on facilities and employees.
These funds are available to upgrade the CO2 safety monitoring systems some have been unwilling to invest in despite the code requirements that are in place insisting on these monitors. With these funds, facilities can quickly and cost effectively resolve long standing compliance issues at little to no actual bottom line costs.
Preparing for Establishment Success Beyond COVID
Selecting and embracing technological advancements is likely one of the keys to the long term resurgence and vitality of the restaurant industry. Technology purchased with these federal stimulus funds can help you accelerate and gain market share in the competitive restaurant landscape if you are prepared to find and implement those advancements to attract and keep customers in the highly competitive restaurant space. Creating that next level experience will set you apart in a crowded market and technology can be an avenue to capture that market.
Some companies are creating internal work groups to continually study emerging technologies and how they fit in their markets. Creating a combination of front and back of the house stakeholders can bring clarity to your business as well.
Take advantage of the fiscal opportunities the Federal stimulus funds provide you either by upgrading to and complying with current regulations or by planning for advancements to build your facilities and brands for the future. These funds may never be available again.
For more information on implementing CO2Meter sensor technologies in your research, speak to an expert today: Sales@CO2Meter.com or (877) 678 - 4259.