Don’t be caught unprepared when the unexpected happens. And, it will happen. If you think you are exempt from disaster brought on by unforeseen circumstances, believe me you are not. It happens to just about everyone in the restaurant business in one form or another.
The first time I faced financial disaster from an outside source, not my own doing, was when the pipes in one of my
The only thing that felt colder than my water soaked feet were my tear stained cheeks when it hit me that I didn’t have business interruption insurance and that due to my financial situation I may have also missed a payment or two on the insurance policy. Whoops.
Don’t think for a moment that something like this couldn’t happen to you. And, don’t think that once it happens you will have time to deal with it. Prepare for the worst, now.
Just last week a teenage driver failed to stop at a stop sign while driving a borrowed car and blasted through the front window of
When the driver charged through the front window of the deli, displacing delights of various assortments in sections nobody would have thought they would appear, he managed to destroy a community gem, at least for the present time. The building may have been structural compromised and the hard work of Bernstein and staff, wiped out in seconds. Worse, the corporate offices, perched above the store are probably non accessible for any great length of time until repairs are completed.
None of us like to stare disaster in the face and few of us enjoy planning for the disaster before it happens, yet planning, even for creative types could alleviate a lot of grief in the big picture.
Bernstein should be commended. While one of her gems, The Fig Pantry, stands in shambles, she had the compassion and management foresight to place her employees at her other restaurants. This works out perfectly for the dedicated employees and also allows her to save the talent she spent the precious hours and dollars in training. In that respect she is fortunate because her company is large enough to absorb the talent. Yet, think about what could happen if you only had one property. You would be starting over from the ruins of disaster, and that takes a tremendous amount of planning, financial where with all and strength.
It may be difficult to understand or realize, but you must have a plan in place when tragedy or disaster strikes. And, I don’t mean a plan only dealing with the mishap, but a plan on what to do with your staff, your loss of business, and the cash flow that you will never be able to recoup. Any accident will cost you money. But if you have a plan in place, the right insurance, and are prepared, the loss won’t hurt as much as you would imagine.