All industries across the globe lacked preparedness for the truculent pandemic scenario. The objective is to identify the internal strengths and weaknesses and external opportunities and threats crucial for an industry’s survival and avoid severe impact in future unforeseen crises. The present qualitative study aims to provide possibilities and opportunities for the resurgence of the restaurant industry in an Asian market in the new normal. We conducted semi-structured interviews with 25 participants, analyzed their opinions, and listed factors in an internal factor evaluation matrix (IFEM) and an external factor evaluation matrix (EFEM). The factors were assigned weights and ranks based on priority. Next, we developed the SWOT (strengths, weaknesses, opportunities, and threats) matrix with the sum of the IFEM and EFEM scores. Finally, we created the TOWS (threats, opportunities, weaknesses, and strengths) matrix to formulate various strategies. Analysis of the favorable and unfavorable factors will help us understand how to leverage opportunities with the strengths and how weaknesses can eventually lead to threats. The study will give valuable insights to owners and policymakers for restaurant businesses in Asian markets to discover possibilities and opportunities for a resurgence. In the future, related empirical research on other industries can include the determining elements to build the survey instrument.