Only 21 percent of Ohio restaurant owners believe they will break even in 2020

Only 21 percent of Ohio restaurant owners believe they will break even financially in 2020, according to an Ohio Restaurant Association poll.
The ORA said this is not surprising since 50 percent of restaurants were closed from mid-March to mid-May. On May 15, outdoor dining resumed. On May 21, indoor dining resumed. And 65 percent of restaurants are reporting sales down 20-to-90 percent compared to last year. The ORA warns no business can survive this performance.
In general, however, sales are improving slowly each week. Depending on the sector, sales are improving faster for some than others -- particularly the pizza sector, fast-casual and concepts with sophisticated apps, online ordering, delivery and carryout.
Data from the University of Michigan also shows that consumer sentiment jumped by 6.6 points in early June to 78.9. The ORA said the increase surpassed the expectations of economists surveyed by The Wall Street Journal. However, the index remains well below readings from this time last year when it was 98.2.
The ORA said it will continue to help members with critical information, access to leaders and vendor partners that offer smart solutions.