A team of restaurant industry entrepreneurs hope a new initiative will help reverse economic setbacks triggered by COVID-19.
They’ve launched a program called “Dining Bonds,” which work like savings bond. Guests can purchase a $100 bond now, for say $75, and redeem it for full-face value at some point in the future.
Helen Patrikis, whose Huntington-based HP-PR helps restaurateurs get publicity, came up with the idea as she witnessed the industry collapsing as people began self-isolating, even before restaurants were forced to shut down.
“This idea of reinventing the gift certificate as a dining bond” came to mind, said Patrikis, who also has an office in Manhattan.
She floated the idea to Steven Hall, president of Hall PR, who immediately jumped on-board.
“We felt it was a concept that people could relate to – like war bonds or saving bonds – to help and do something for the greater good.”
“Within a day, we had 20 restaurants tell us they were interested,” Patrikis said.
There is no fee to participate. And just a week after its launch, the program has 300 restaurants participating across the United States, 15 in Italy, as well as eateries in Germany, Australia, Canada, Singapore, Spain and the U.S. Virgin Islands. Patrikis said restaurants in Sweden, Portugal and Brazil.
“They’re just trying to survive,” she said.
Participating restaurants are to place the “Dining Bond” logo and link on to their website, and follow instructions to make it easy to find this information,” Patrikis said.
Patrikis said she’s also received inquiries from elected officials from Massachusetts and an attorney from New Orleans about the program.
It’s a work in progress, Patrikis said.
A dedicated website at supportrestaurants.org, allows diners to search for and connect with participating restaurants while also letting restaurants sign on to the program. Transactions can then be handled directly between customer and restaurant, with individual restaurants setting their own terms and conditions and fulfilling the transactions. There are plans for a social media effort, which would require someone to manage it, Patrikis said.
“This is a tremendous opportunity for the community to show their love and support for the hospitality industry and to ensure the future of their favorite restaurants, not to mention the many people who may be forced out of work,” Hall, president of Hall PR and co-founder of the campaign, said.
“Restaurants are a vital part of life; they are places of celebrations and romance, and have seen their guests through many highs and lows,” he added. “We hope people will remember that now that their favorite eateries need their help. We’re encouraging everyone to put these bonds to work and save restaurants.”
“This is a very challenging time, and we’re experiencing something we have never had to deal with before,” said Jennifer Petrocelli, executive director of The Preston House & Hotel, a participating restaurant. “We want to remain optimistic, so this initiative shows solidarity within our restaurant community and hopefully reassures our guests that if they aren’t able to visit us at this point in time, we’ll be here for them when things settle down.”
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March 23, 2020 at 11:59PM
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With 'Dining Bonds,' restaurant veterans try to save industry from setback - Long Island Business News
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