Charleston Restaurant Report JANUARY 2021
ON THE MENU
1. Local Restaurant Scene -- LOOKING AHEAD TO 2021
2. Restaurant Openings, Closings + Coming Soon Lists!
3. National Restaurant Scene – WHAT DOES THE NEW FEDERAL RELIEF BILL MEAN FOR RESTAURANTS?
4. CORONAVIRUS: MEASURING THE DAMAGE
LOCAL RESTAURANT SCENE
LOOKING AHEAD TO 2021
The Coronavirus pandemic has wrecked the restaurant industry -- plain and simple. The destruction not only affects individuals -- restaurant business owners, employees, vendors, customers -- but also rips at the social fabric of our neighborhoods and cities. Restaurants play such an important role in defining the culture of a place. Are we witnessing the end of the independent restaurant era, or will this pandemic lead to a renaissance of innovation and permanent changes in foodservice and food culture? Certainly there are many F&B concepts that will not survive, but this can also be a time for new concepts and new approaches to rise up and forge a new path. Plenty of operators have pivoted their business models this year, showing great resilience, and have done well. Others will follow and new concepts will be born. I look forward to seeing what comes....
RESTAURANT OPENINGS, CLOSINGS + COMING SOON!
Openings + Closings list reflects 4th Quarter 2020 market activity (October - December):
OPENINGS --
1st Place (Downtown)
Bistronomy (Downtown -- former Josephine)
California Tortilla (James Island)
Caroline's Aloha Bar (West Ashley -- former Voodoo)
Charleston Distilling Co. (Johns Island -- relocated from Downtown)
Charleston Sports Pub (Goose Creek)
Cod Tail Chicken & Seafood (West Ashley)
Estuary Beans & Barley (Johns Island)
Gong Cha (North Charleston)
Groucho's (Mount Pleasant)
Gypsy Parlor (Summerville)
Jade Hibachi (Downtown -- former Saber's)
Lodi Coffee (North Charleston)
Maple Street Biscuit Company (Mount Pleasant)
Mi Fiesta Tacos & Tequila (Summerville -- former Burger King)
Panera Bread (Mount Pleasant)
Pedro's Mexican Grill (Summerville)
Raul's Maya Del Sol Kitchen (North Charleston)
Rebel Taqueria (North Charleston -- former Grand Rooster)
Second State Coffee (West Ashley -- former Broom Wagon Coffee)
Shem Creek Crab House (Mount Pleasant -- former Shem Creek Bar & Grill)
Sweet Bowl Poke & Tea (Downtown)
The Brewlab (Downtown)
Toast All Day (Mount Pleasant -- former The Granary)
Tropical Smoothie (Summerville)
Viva Tacos & Tequila (Daniel Island)
PERMANENT CLOSINGS --
Blossom (Downtown)
Five Loaves Cafe (Downtown)
Josephine (Downtown)
Little Caesar's Pizza (James Island)
Tapio (Downtown)
Voodoo (West Ashley)
COMING SOON --
Covid-19 has severely impacted dozens of restaurant projects that were in development and planning to open in 2020. My tracking list of "coming soon" restaurants that are expected to open in the coming months, as of late December, includes more than 45 restaurant projects in some phase of development in the Charleston area. Opening date forecasting in the covid environment is nearly impossible, however, there are many exciting projects on the way.
NATIONAL RESTAURANT SCENE
WHAT DOES THE NEW FEDERAL RELIEF BILL MEAN FOR RESTAURANTS?
The latest federal relief bill will deliver some benefits to restaurant owners, staff and customers. Relief bill benefits include another round of forgivable PPP Loans, significant tax changes, Employee Retention Tax Credits, and direct cash payments to taxpayers. It's not a magic pill, but it may provide just enough help for some struggling restaurants to survive the winter. Read more about it in the latest issue of Restaurant Business.
CORONAVIRUS: MEASURING THE DAMAGE
More than 6 million jobs were lost in the national restaurant industry due to Covid-19 in the first half of 2020. Many of those jobs have been recovered. However, as of December, there are still 2.1 million less F&B jobs than there were pre-covid. The F&B job recovery stalled in November after several months of incremental gains. Industrywide sales sagged in October and November, and thirty-six states experienced net restaurant job losses. It's certainly not the direction we want to be heading in as we approach the cold winter months when outdoor dining becomes much more challenging and less inviting. Access more in-depth industry research and analysis from the National Restaurant Association.