COVID hit the foodservice industry hard. It was unexpected and resulted in many venues closing their doors not just temporarily but permanently. For the outlets that made it through these unprecedented times, innovation and adaptability were key to their success. One relatively new concept that grew in popularity was the all-in-one business model. All-in-one venues offer multiple spaces within their business to suit all types of functions and events. What was once just a restaurant is now a bar, retail store, bakery and development space. The possibilities are endless for this new breed of venue.
Consumers expect more from foodservice outlets and many businesses saw a gap in the market and a unique opportunity to differentiate themselves. When the hospitality industry closed their doors to diners, venues pivoted to delivery offerings. For some, this was not enough to keep their businesses afloat. Venues not only became takeaway reliant but transformed their brick-and-mortar business into a multi-functional space. Great food is not enough anymore. Consumers want an experience and venues are pivoting to meet this new demand.
Multi-functional spaces are beneficial to both the consumer and the venue. Consumers have access to new business offerings and venues create a new venue stream. Foodservice outlets have rolled out meal kits where packaged ingredients of menu items from pasta to pizza and ramen are delivered to customers to re-create restaurant meals at home. From established restaurants to start ups and hotels, meals kits have become a lucrative side business for many experimental businesses.
All-in-one venues are the future and with the impacts of the worldwide pandemic still being felt, the foodservice industry will continue to innovate to provide their consumers with all their food requirements.
If you’re looking to expand your business offerings contact your local Distributor to see what food and beverage items are available.