2020 is a year most every restaurant operator would like to forget. But the words that were used and, possibly, overused this year, will long trigger memories of this year that was like no other.
Here’s a look back at some of the new (or newly relevant) words and phrases that made their way into the vocabulary of restauranteurs this year.
Pivot. Is there a word that has gotten more of a workout than pivot in 2020? Those five letters have done some heavy lifting as restaurants have thrown their old operating models out the window. In 2020, they’ve pivoted to takeout, pivoted to curbside pickup, pivoted to virtual brands and generally done more spins and flips than Olympic gymnasts.
Virtual concept. Virtual brands were kind of under-the-radar pre-COVID. But the pandemic ramped up this make-do notion of creating new restaurant concepts out of existing kitchens, largely using current pantry items. Some notable entrants: Pasqually’s Pizza & Wings from the kitchens of Chuck E. Cheese; It’s Just Wings out of Chili’s and Maggiano’s kitchens; and Neighborhood Wings by Applebees.
SPAC. It may sound like something the cat coughed up, but this acronym stands for: Special Purpose Acquisition Company. According to Restaurant Business’ resident finance geek, Jonathan Maze, a SPAC is a shell company that raises money from public investors and uses it to fund the acquisition of a private chain. Once the two chains merge, the shell company takes on the acquired firm’s name and takes it public. This year has seen a growing number of SPACs looking to make deals.
Capacity cap. Sure, restaurants have always had occupancy limits. But the pandemic has given new importance to capacity caps as states and cities seek to slow the spread of the virus with ever-shifting occupancy limits to allow for social distancing. Restaurant operators had to get extra-good at math this year, calculating how many diners they could fit under 75% or 25% capacity caps.
Furlough. Operators around the country, mired in pandemic uncertainty, often didn’t know whether to lay off their employees or limp along with reduced staffing. Operators from big chains to small independents made the tough choice to furlough workers, to place them in a sort of limbo for a period of time, with the hope of bringing them back during brighter days. Many big chains furloughed large chunks of their corporate teams to cut costs and preserve cash on hand.
Social distancing. Most everybody, whether in the restaurant industry or not, came to know this phrase in 2020. Per CDC guidelines, we were all supposed to mask up and stay at least six feet away from others. In restaurants, this translated to stickers on the floor to show customers where to stand, as well as properly spaced tables.
Zoom call. With offices shuttered around the country, many workers turned to Zoom and similar technologies to conduct virtual meetings. For some, these video calls extended beyond working hours into Zoom happy hours, Zoom cooking classes, Zoom wine tastings and more. Many savvy restaurant brands even created digital backgrounds to use during video calls so users could pretend to sit in their favorite dining rooms.
PPP. These three letters, which stand for the Paycheck Protection Program, provided a glimmer of hope to struggling restaurants early in the pandemic. Many operators received a portion of the $670 billion relief package for small businesses, which offered forgivable loans to keep workers employed. Of course, the program was mired in controversy, with some large chains taking advantage (and later returning) the funds, and most everyone else complaining that the aid wasn’t nearly enough to keep them afloat during the crisis.
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