This year from a restaurant advisor viewpoint is shaping up to be the one that the food and beverage industry gets back on track. According to recent reports from the NRA (National Restaurant Association), both restaurant growth and foodservice employment is projected to return to pre-recession levels. There are also signs that certain parts of the country in the West South Central states may be the next hot spots for new food and beverage concepts and expansions. So is now the time to start your new restaurant planning? According to this recent report in the Los Angeles Times: “If the National Restaurant Assn. is right, eateries across the country will end this year with record high sales. The trade group is expecting $632 billion in revenue for the industry – a 3.5% increase over 2011. The still-shaky economy, it seems, won’t be getting too much in the way.” Get the rest of those statistics before contacting your restaurant advisor here. In related restaurant industry analysis from the National Restaurant Association 2012 Restaurant Industry Forecast and as reported in Nation’s Restaurant News: “The West South Central area — Texas, Oklahoma, Louisiana and Arkansas — is projected to post nominal restaurant sales gains of 3.9 percent in 2012, the highest rate of regional growth in the United States.” Customarily as a restaurant advisor on new startups, we look for growth that is both in line with inflation and exceeds it by another 1-2 points. As a whole, inflation has been below 3% in many markets across the USA. Given that projected growth for the West South Central part is nearing 4%, consumer eating and drinking sales demand in those markets should begin to support new restaurant growth in the next year.
Perry Group
Hotel & Restaurant Experts For The Hospitality Industry
