> The long term trend is that (primarily take-out) restaurants will decline and be replaced by ghost kitchens.
If you mean takeaways will stop having so many storefronts, sure.
But for sure restaurant brands are not going virtual - you'll have your Dominos but most restaurants are going to mainly be in person eateries. There's this tendency to over-estimate the impact of major events as you're in the centre of them... once COVID is "over" we're going to see a boom in eating out, as people rush back to normal life. It ain't going change so much.
The reason it's so hard to make money out of a restaurant is not because rents are high (people will travel to good restaurants) it's because the competition is so damn fierce.
If you mean takeaways will stop having so many storefronts, sure.
But for sure restaurant brands are not going virtual - you'll have your Dominos but most restaurants are going to mainly be in person eateries. There's this tendency to over-estimate the impact of major events as you're in the centre of them... once COVID is "over" we're going to see a boom in eating out, as people rush back to normal life. It ain't going change so much.
The reason it's so hard to make money out of a restaurant is not because rents are high (people will travel to good restaurants) it's because the competition is so damn fierce.