The National Restaurant Association of India (NRAI) on Sunday appealed to landowners to waive three-month rent and work on a moderate revenue-share model for the following six months until businesses regain lost foothold.
With the lockdown in place due to the COVID-19 outbreak, the restaurant industry has been battling for survival as the fixed operating expenses of an eatery is very high, the body said.
“We are also mindful that post the lockdown, it will take us several months to become sustainable again. To achieve the twin objectives, we need to bring down our fixed operating costs and its ratio; there is no other way and the biggest components of these fixed operating costs are Rentals and Manpower expenses,” the association added. NRAI president Anurag Katriar said: “We are hopeful that the landlords, our long-standing business partners, will extend their support.”
