This document discusses the impact of COVID-19 on the hospitality and restaurant sector. It notes that the pandemic has cost the foodservice sector 800,000 jobs since March 2020. Permanent closures in the sector could hit 30-40%, resulting in 320,000 jobs lost. It also discusses the growth of online ordering and delivery through services like Skip the Dishes. The foodservice industry is expected to undergo major changes in the post-COVID era, including a shift to more online operations and possible closure of 30-40% of restaurants.

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.