Restaurant industry survey: What's next?
Investment industry trends in growth and technology
The restaurant industry continues to change dramatically, and businesses need to respond quickly to the constantly evolving challenges and trends, with a focus on top-line growth and margin management. Likewise, industry leaders must be mindful of the many factors that affect their business and could influence their growth. From technology innovations to real estate strategies, what’s critical for restaurant executives in terms of growth? Download the RSM Restaurant Survey: What’s next? to learn more.
The survey was conducted using an online questionnaire, promoted by RSM and coordinated by an independent research firm, which also compiled the final survey results. Survey results were based on responses from 150 executives, owners and decision-makers at restaurant franchisors and franchisees with annual revenues up to $1 billion. Respondents held executive roles at several concept types, including quick serve, fast casual and casual dining. Respondents were asked about growth outlook, market trends, business conditions and capabilities.
Key takeaways from the survey report include:
- Nearly 70 percent of respondents expect growth in 2016
- Growth is projected from same-store sales increases and new unit growth
- Technology is expected to be a major driver of same-store sales
- Availability and cost of real estate is a perceived barrier to new unit growth
- Availability and cost of labor could inhibit new unit growth
- Access to capital is critical in realizing new unit growth opportunities