Here is a look at COVID19 and the impact on the restaurant and food service sector

1. Hospitality and
RestaurantSector
PaulYoung CPA CGA
April 21, 2020

2. PaulYoung - Bio
• CPA, CGA
• Academia (PF1, FA4 and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Internal Controls
• SME – Financial Planning andAnalysis
• SME – Business Strategy
• SME – EmergingTechnology
• SME – Financial Solutions
• SME – Business Process Change
• SME – Supply Chain Management
Contact information:
Paul_Young_CGA@Hotmail.com

3. Agenda
Market Size / Growth
COVID-19 / Impact
Online / Restaurant
What's next
Training and Development courses

4. MarketSize/Growth
Source - https://www.mordorintelligence.com/industry-reports/canada-foodservice-market

5. COVID19
Impact
 “”Source - https://www.restaurantscanada.org/industry-news/covid-19-has-cost-the-foodservice-sector-800000-jobs-since-march-1/
Permanent closing rate could hit 30-40% or about 320K+ jobs lost
permanently

6. On-line /
Restaurant
More and more people will shop online for food
including restaurant takeout -
https://www.foodincanada.com/opinions/why-
covid-19-will-change-the-food-industry-forever/
Growth of skip for dishes -
https://www.orilliamatters.com/coronavirus-covid-
19-local-news/pandemic-has-skip-the-dishes-
drivers-scrambling-to-keep-up-2204793
Online food service will continue to grow/expand -
https://www.marketwatch.com/story/buy-these-
two-online-food-delivery-stocks-as-demand-
surges-in-lockdown-analyst-says-2020-04-03

7. Training and
Development
 If you like to learn more about
trade and/or other subjects as
part of your professional
learning and development
then feel free to review my
material on
https://www.udemy.com/
(search PaulYoung CPA CGA)
 These subjects address how to
fixed issues with housing
and/or systemic issues related
to economy including
government policies

8. Summary
 Online deliveries will continue to grow and expand.
Restaurants will need to adjust their operations to handle
more online deliveries.
 Existing businesses will introduce more automation -
https://modernrestaurantmanagement.com/five-ways-
technology-is-transforming-the-restaurant-industry/
 Food service supplies companies will likely need to restructure
their operations due to changes to restaurant/hospitality
sector.
 Vacant building and land will become available for other
purposes.
 The food service sector likely will see a major shift post-
covid19 with 30-40% of the restaurants closing
 Possible loss of employment – 280K to 320K
 Loss of sales of $24B
 Loss of corporate, income tax, property taxes, etc.