Many industries have been impacted by COVID-19, especially hard hit are the food and hospitality industries.
Layoffs have left restaurants and hotels trying to manage projects with fewer people, leading to a heavier reliance on technology and logistics partnerships.
The coordination of furniture, fixtures and equipment (FF&E) is often an issue for these businesses and with fewer people to manage this process, it becomes an unwieldy problem for most project managers. We are seeing a significant uptick in restaurant closings and an issue in what to do with all the furnishing and equipment from these closed businesses. On the other end of the spectrum, we are seeing a considerable need of these same assets, as some companies are taking advantage of utilizing these assets in new business opportunities. As the large chains start to downsize their national footprints, others are expanding. Taking advantage of well-maintained furnishings and equipment to open “ghost kitchens” and other types of dining establishments.
All of this takes a significant amount of coordination, since those companies that have a need for these assets, are usually not connected to those that need to divest themselves of them. Since most organizations that provide project logistics are focused on one side, or the other, there usually is not a coordinated effort to “marry” a seller of assets to a buyer. In doing some research on this, we are finding a need for a connection, most likely through technology to facilitate a better method of “marrying” these two needs.
At PFG, we have a solution that is driven by both sides of this equation. Comment or reply with your unique situation and we will make sure to contact you.