Charleston Restaurant Report OCTOBER 2022

ON THE MENU

1. Local Restaurant Scene -- GIGPRO APP PLUGGING A HOLE IN F&B STAFFING PROBLEM
2. Restaurant Openings, Closings + Coming Soon!

3. National Restaurant Scene – NRA PUSHING SBA TO EASE UP ON EIDL RECIPIENTS
4. COVID: Measuring The Damage -- VIRTUAL CONCEPT MR BEAST BURGER GETS PHYSICAL

LOCAL RESTAURANT SCENE

GIGPRO APP PLUGGING A HOLE IN F&B STAFFING PROBLEM

      A recent article in the Charleston City Paper pointed to the ongoing staffing challenges operators face on what has become a shift-by-shift basis. A local F&B industry veteran developed the GigPro app to help operators fill last minute staffing gaps. According to the CP article, the app is now helping to fill 1,000 service jobs a week in Charleston. Job-hopping has its pros and cons, but it does allow workers to test out different F&B environments. Maybe they find a job they like and stay for awhile. The operators also get a chance to live-audition someone and see if that person is a good fit for the team. 

RESTAURANT OPENINGS, CLOSINGS + COMING SOON!

Openings + Closings list reflects 3rd Quarter 2022 market activity (July - September):

OPENINGS --
Azul Mexicano (Summerville – former Sticky Fingers) 
Bar 167 (Downtown — former Fulton Five) 
Bar Rollins (Downtown) 
Blum Coffee (Downtown) 
Cafecito (Downtown) 
Culver’s (Ladson) 
Gingerline (Downtown — former Ruth Chris Steak House) 
Great Harvest Bakery (North Charleston) 
Highfalutin Coffee Roasters (James Island) 
Home Team BBQ (Mount Pleasant — former Rusty Rudder) 
Island Provisions (Downtown)   
Millers All Day (James Island – former Zia Taqueria) 
My Father’s Moustache (James Island — former CURE) 
Pasture & Grain (Mount Pleasant — former Blaze Pizza) 
Pho Bowl (Goose Creek — former Pizza Hut) 
Primo Hoagies (Summerville) 
Ruby Sunshine (West Ashley) 
Saveur Du Monde (Seabrook — former McCann’s Irish Pub)  

Sheffield’s Wine Bar & Tapas (Mount Pleasant) 
Thailicious (North Charleston) 
The Fish & Chippy (Mount Pleasant) 
The Lucky Luchador (Downtown — former Palace Hotel) 
The Natural (Johns Island) 
Vern’s (Downtown — former Trattoria Lucca) 
Wind & Waves Brewing (North Charleston) 

CLOSINGS -- 
Bacco (Mount Pleasant) 
Black Magic Cafe (James Island)
Braised in the South (Johns Island) 
Denny’s (North Charleston) 
Florence’s Lowcountry Kitchen (West Ashley) 
Gnome Cafe (Downtown) 
Locals Seafood & Raw Bar (Mount Pleasant) 
Starbucks (Downtown) 
Sunflower Cafe (West Ashley) 
This Little Piggy Bar-B-Que (Summerville) 

COMING SOON --

       The number of publicly-announced F&B projects on the Coming Soon list -- coming to market in the near future pushed back up over 60 in the 3rd quarter 2022, up slightly from the mid-50's at the end of 2nd Quarter 2022.   

NATIONAL RESTAURANT SCENE
NRA PUSHING SBA TO EASE UP ON EIDL RECIPIENTS 
       Nations Restaurant News magazine reports that the National Restaurant Association is pushing the U.S. Small Business Administration to provide further relief to Emergency Injury Disaster Loan recipients, including thousands of restaurant operators across the country. The EIDL program provided loans during COVID with 3.75% interest rates, 30-month payment deferrals and 30-year payment plans. Unlike PPP loans, these loans must be repaid. The NRA is asking the SBA for interest rate and accrued interest reductions. There is serious concern from the NRA that a large majority of restaurants with these loans won't be able to make their payments once the 30-month deferment period ends. For those who have not received EIDL funds, and still need help, there may be more EIDL funds available. However, there are thousands of restaurant loan applications stuck in the queue. Check out the article in Nations Restaurant News...

FOOD FOR THOUGHT
VIRTUAL CONCEPT MR BEAST BURGER GETS PHYSICAL
       YouTube sensation Mr Beast started a virtual burger concept during the Covid pandemic that has spread like wildfire. The brand has grown from 0 to 1,700 virtual locations since 2020. Mr Beast Burger recently opened its first physical location in a New Jersey mall that allegedly saw over 10,000 people in line before it opened on day one. I would expect to see other internet celebrities with huge fanbases introducing virtual restaurant brands. Take an online marketing machine, piggyback a menu on another restaurant brand's brick-and-mortar infrastructure, and finish it with a third-party delivery service. Build your own restaurant brand without the physical overhead. Read more about Mr Beast Burger in Restaurant Business magazine.