RESTAURANT INDUSTRY

Don't underestimate the opportunities for your growth

• 65%:   Restaurant guests prefer to control how much they tip, as opposed to adopting auto-gratuities or the tip-free movement 

• 863 billion: Projected annual sales in the restaurant industry: 4% of the country’s gross domestic product

• +1 million:   US restaurants

• 101.6: At he Restaurant Performance Index (RPI) sits, as of May 2019. Anything over 100 is considered a time of growth for restaurants

• +200 million:   U.S. consumers visited a sit-down restaurant in 2018

• 45%:   Diners go out to eat multiple times a week, with another 20% going out to eat once a week. 

• 13%:   Consumers consider themselves "brand loyal" to restaurants

• 51%:   Family food dollar in 2019. In 1955, it was 25%

• 12.6%:   Americans' spending on food. 33% of their income on housing, 15.8% on transportation

• 52%:   Restaurant professionals named high operating and food costs as a top challenge

• 65%:   Restaurants have increased menu prices due to the increase of minimum wage

• 68%:   Restaurant professionals review sales reports on a regular basis, 45% regularly review labor reports, and 32% regularly review menu reports – and 17% admitted that they don’t check any of these regularly

• 91%:   Restaurateurs expect profits to increase in 2019

• 47%:   Restaurateurs would repair or update their equipment if they had extra money on hand