The impact of the pandemic has been felt across the world in every industry, and millions of restaurants have been forced to close following physical distancing regulations.
One initiative aims to benefit restaurant owners and consumers alike.
Dining Bond, created by Helen Patrikis, Steven Hall, and Alan Aurmont, is an international restaurant gift card program targeted at putting money into the hands of restaurant owners and staff as soon as possible, even while they are closed.
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According to the website, Dining Bond works similarly to a financial savings bond.
“Essentially, they are gift cards/vouchers/certificates that are sold at a price lower than face value (how much lower is decided by each individual restaurant), but redeemable at face value upon dining at the restaurant.”
Like savings bonds, gift cards are guaranteed to increase in value over time.
Gift cards can be redeemed at participating establishments once they reopen.
Any restaurant is eligible to participate without having to pay a dime, and each establishment will receive 100% of the sales made.
In order to participate in the Dining Bond initiative, the restaurant must create an incentive surrounding the gift cards by providing customers with a discount.
“Without incentivizing gift cards/vouchers/certificates, Dining Bond may not be the right platform for you,” the site states, “Bottom line: offer your guests an incentive to buy a bond. Be creative with incentives. Use your imagination. The sweeter the deal, the more likely your guest will buy a bond.”
As of right now, over 500 restaurants across the globe are participating in the Dining Bond initiative, including establishments in the United States, Australia, Brazil, Colombia, Italy, Singapore, and many others.
Restaurants around the world, many of which are small businesses, remain at risk of closing permanently due to the pandemic and the loss of revenue that it continues to incur.
Initiatives like Dining Bond could provide much-needed relief.
Additionally, the program provides the public with the perfect opportunity to demonstrate their support for their favourite local establishments and the staff that make them great.
If you would like to purchase a Dining Bond, the official website provides a map that displays participating restaurants offering gift cards.
Each restaurant will have its own policy regarding when the gift cards will expire.
If you or someone you know owns a restaurant and would like to sign up to participate in the initiative, visit the participation page of the Dining Bond website to learn more about how to sign up.