Father’s Day is a reason for optimism for food entrepreneurs %%page%%

According to Abrasel, the Brazilian Association of Bars and Restaurants, 81% of entrepreneurs in the away-from-home food sector were betting on increased revenues during Father’s Day. For João Ricardo Tonin, economist at FoodCo., despite the indebtedness of families, the demand for establishments on commemorative dates does not usually decrease.

Tonin explains that, despite some improvements in the financial condition of bars and restaurants, there are still problems that affect a greater growth of these establishments, such as credit and debt. At that moment, families usually think twice before leaving home to eat – which is not the case on Father’s Day. Today, 54% of these companies are unable to make a profit, 35% are in a balanced financial situation and 19% face losses.

For the economist, there are still many economic problems arising from the pandemic to be overcome. Inflation is starting to come down, but debt is a challenge for most Brazilians. Furthermore, Tonin explains that, as Brazil does business with many other countries, our economic condition also depends on the stability of these partners.

“It is clear that for bars and restaurants to have optimal results, we need to address the issues that have arisen during the pandemic. For some places, this can take a while. It is likely that the recovery will continue slowly during the second half, and we will probably have a better year-end than last year. Remembering: keeping reason and persisting are key strategies to face the challenges of this second half”, he concludes.

The FoodCo. with the complete and audio analysis of the economist João Ricardo Tonin is an exclusive weekly content for the platform’s subscribers. FoodCo. is the largest community of bar and restaurant owners in Brazil. There are more than 13,000 entrepreneurs in the sector gathered in a network of knowledge and networking, with access to essential content for those who undertake food outside the home.