COVID-19 and the impact on college sports concessions!
Since the COVID-19 pandemic has struck our country, the world of college sports and the concession industry has been hit hard. Big companies like Spectra and Aramark have already seen drastic decline in profit. Conferences such as the Big Ten and Pac-12 postponed their football seasons and three other Power Five conferences said they would play abbreviated schedules. Spectra has Power Five schools like Colorado State, Illinois, Texas Tech and Wake Forest. Senior Vice President of food services Jay Satenspiel said “ Spectra is using the time to strengthen relationship with clients and become a stronger organization when the pandemic eventually passes.” Very bold statement with more COVID-19 cases popping up daily especially in college sports. Aramark reported this month that food service operations for sports, leisure and corrections were down 71% year-over-year. Aramark's revenue slid from $681.4 million in June 2019 to $194.3 million in June 2020. There are some positive outlooks into the future with the ACC, Big 12, and the SEC to still play football in the fall and still hold the College Football National championship game at the Rose Bowl. The schools that are having fans currently allowed to have concessions stands are taking safe social distancing measures as well such as cashless transactions, cash-to card machines on site, tons of bottled waters, and foods and drinks are being picked up from stations on site while wearing mask at all times.
