1851

The National Restaurant Association has released its outlook for the foodservice industry in light of the COVID-19 outbreak that is shuttering businesses across the country, and it is not optimistic.<a href="https://restaurant.org/Downloads/PDFs/business/Natl-Rest-Association-COVID-Letter?utm_source=1851franchise.com&utm_medium=article&utm_campaign=national-restaurant-association-projects-industry-loss-of-5-7-million-jobs-and-225-billion-in-sales-2712562" target="_blank" rel="nofollow">In a letter to President Donal Trump, Speaker of the House Nancy Pelosi and Senate Majority Leader Mitch McConnell</a>, the NRA urger Congressional leaders to take 12 steps to prevent the worst-case scenario for the industry.&nbsp;“Economically, we are anticipating sales to decline by $225 billion during the next three months, which will prompt the loss of between five and seven million jobs,” the NRA wrote. “The restaurant industry is one of low margins, tight cash flow, and a workforce that depends on us for their livelihood. Without aggressive and immediate action from the federal government, many restaurants that are a staple of local communities will simply never resume service.”Among the steps the NRA is requesting is a $145 billion recovery fund to “compensate for reduced revenue attributed to coronavirus-related declines in order to pay employees, maintain service operations, meet transactional and financial obligations.”The letter also recommends an investment of $35 billion for Community Development Block Grants for Disaster Relief (CDBGDR) assistance, loan and insurance options for small businesses, $45 billion in “expanded access to effective, efficient and affordable federal and conventional loans” and a number of tax measures to help businesses survive and recover from the ongoing crisis.&nbsp;On Tuesday, Secretary of the Treasury Steve Mnuchin <a href="https://1851franchise.com/coronavirus-and-franchising-what-a-20-jobless-rate-would-mean-for-franchising-2712551">warned that the COVID-19 outbreak could result in a 20 percent jobless rate</a> even if a proposed $1 trillion economic stimulus is enacted. That number is expected to be far higher in the foodservice industry.<a href="https://restaurant.org/Downloads/PDFs/business/Natl-Rest-Association-COVID-Letter?utm_source=1851franchise.com&utm_medium=article&utm_campaign=national-restaurant-association-projects-industry-loss-of-5-7-million-jobs-and-225-billion-in-sales-2712562" target="_blank" rel="nofollow">Read the NRA’s full letter.</a>

National Restaurant Association Projects Industry Loss of 5–7 Million Jobs and $225 Billion in Sales

1851 Franchise

The NRA is requesting a $145 billion recovery fund to stave off the worst effects of the outbreak.

national-restaurant-association-projects-industry-loss-of-5-7-million-jobs-and-225-billion-in-sales

Melting Pot

Photo of interior of Melting Pot restaurant

Lexington Herald Leader: This Restaurant Chain Eyes a Return to Lexington After 10 Years

melting-pot-return-to-lexington

Keke's Breakfast Cafe

Keke's Breakfast Cafe - John and Kimberly Ehrhard - 1851 Franchise

Empowering Leadership, One Pancake at a Time: How John and Kimberly Ehrhard Are Building a Franchise Legacy with Keke’s Breakfast Cafe

john-kimberly-ehrhard-kekes-franchise

Comfort Keepers

More Than a Caregiver: Loretta Smith's Support Extends to Fellow Caregivers, Clients and the Community

more-than-a-caregiver-loretta-smiths-support-extends-to-fellow-caregivers-clients-and-the-community

Photo of Melting Pot CEO John "JC" Crawford

Melting Pot Names New CEO, Celebrates 50th Anniversary With Continued Growth and Leadership Promotions

melting-pot-franchise-mid-year-2025

Layne's Chicken Fingers

Texas Layne’s Franchisee Secures Real Estate in Austin, Set To Open Early Next Year

texas-laynes-franchisee-secures-real-estate-in-austin-set-to-open-early-next-year

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Drone Delivery Takes Flight in QSR: The Future of Franchise Operations?

drone-delivery-takes-flight-in-qsr-the-future-of-franchise-operations

Chick-fil-A Tops Customer Satisfaction Rankings for 11th Year as Challenger Brands Gain Ground

chick-fil-a-tops-customer-satisfaction-rankings-for-11th-year-as-challenger-brands-gain-ground

Technomic Releases Annual Ranking of the Top 15 Fast-Food Chains in the U.S.

technomic-releases-annual-ranking-of-the-top-15-fast-food-chains-in-the-us

Rising Jobless Claims Could Signal Challenges — and Opportunities — for Franchising

rising-jobless-claims-affect-franchising

Hardee’s Lawsuit Highlights the Risk of Going Off-Model in Franchising

hardees-franchise-lawsuit-paradigm-investment-group

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores - Agg - 1851 Franchise

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores

hooters-franchise-model-company-owned-closures

The Ultimate Guide to Selling Franchises: How To Create a Strong Incentive

how-to-build-strong-incentives-to-attract-prospective-franchisees

How Vishal Juneja Turned a Family Tradition Into a Paris Baguette Franchise

How Vishal Juneja Turned a Family Tradition Into a Paris Baguette Franchise Built on Heart and Community

National Restaurant Association Projects Industry Loss of 5–7 Million Jobs and $225 Billion in Sales

MORE STORIES LIKE THIS