Not every restaurant is available everywhere, so QSROnline.com sought to find out which restaurants were the most requested by residents of each state. Some pretty interesting results. I would have thought IN N OUT in Illinois. Here ya go!
“Technomic is forecasting nominal restaurant sales growth of 4% this year, and much of that increase will come from the opening of new locations among the largest chains, with some inflation in menu prices also factoring in.
Brands, especially high-end ones, are putting more restaurants in the pipeline because they are banking on consumers’ optimism and a sense that things are generally getting better. Technomic’s survey of consumers and their expectations for 2015 found that 44% of people agreed with the statement, “My personal finances will improve,” and 27% agreed with the statement, “Our household will be able to spend more when we dine out”—both of which were up 7 percentage points from a year earlier.”
Thanks to Darren Tristano for the nice summary in Forbes of trends going into 2015.
Many hospitality business leaders and local operators are pulling their hair out over why traffic, sales and profits are falling at most bars and beverage driven restaurants. One big reason is a huge drop in the earning power of our primary market – young people. Read about it here, and here, very helpful in understanding the factors driving recent troublesome trends in sales and customer spending patterns.
At A-List we specialize in helping operators beat the trends toward discounting and lower margins by creating an exciting environment with exceptional customer experiences, that beats the competition in the war for customers’ shrinking entertainment budgets.
Problem with “Big Data” is the more you have, the more you have to sort to get anything useful, and the more misleading paths are possible. Curation is necessary by humans using logic, critical thinking and especially instincts gained through years of experience.
Our entire market is about 30% of the population.
30% of American adults don’t drink at all, 30% drink less than 1 drink per week, and many in the top 10% of drinkers drink so excessively they are trouble, and you probably don’t want them in a bar. That leaves about 30% that drink moderately and regularly.
A-List Marketing has developed, opened and marketed more than 40 beverage driven establishments, achieving long term success.
Read the research here – and let us help with your target marketing if you have a bar, nightclub or beverage driven restaurant.
Cheers! — TimTheBarGuy
Thanks to Jeff Haden on LinkedIn for the link to the research and the insights.
#bars #drinking #research #alcohol #marketing #trends #statistics
We often think of small business as the employment engine of the economy and in many ways that is true. The restaurant/bar/hospitality business is a big mover in job creation. But when it comes to job-creating power, new research indicates it is not the size of the business that matters as much as it is the age.
New and young companies are the primary source of job creation in the American economy. Not only that, but these firms also contribute to economic dynamism by injecting competition into markets and spurring innovation.
Representing 95 percent of all U.S. companies, businesses with fewer than fifty employees are undoubtedly important to overall economic strength. So too are the relatively few large companies, which employ millions of Americans.
Yet, neither group contributes to new job creation in the way young, entrepreneurial firms do. In fact, between 1988 and 2011, companies more than five years old destroyed more jobs than they created in all but eight of those years.
Read the research and conclusions here from the Kauffman Foundation, which shows how Start Ups are a prime job driver, how there’s a dangerous trend toward fewer new enterprises, and what can be done to encourage new businesses that drive more jobs.
Here’s some more info on what’s needed to enable entrepreneurial firms to drive innovation and prosperity.
Please remember it is important to job growth and local economic health to support small businesses, local companies and start ups whenever possible!