Restaurant Industry Expert Media Source

Companies in this industry operate restaurants and other eating places, including full-service restaurants (FSRs), quick-service restaurants (QSRs), cafeterias and buffets, and snack bars. Like the co-op model, unionization is another way workers are currently trying to bring more democracy and transparency to restaurants. And while drives are consistently popping up across the industry—from local wine bars to chains like Starbucks and Jimmy John’s —workers have a long way to go to build the kind of density that brings real power. Still, the unions that do exist stand as a real example of what’s possible. And looking at the success of nonunion collective advocacy efforts, like the Fight for $15, it’s clear that there’s power in coming together.

In the restaurant business, your rent should not exceed 5% of your monthly sales. Without any restaurant experience, you can only guess and hope. That may very well be one reason why 5,204 independent restaurant businesses closed last year. When you purchase your equipment you will have city requirements which you must meet in order to even be allowed to open. For instance, you must pass fire inspections, health inspections, city codes, state codes, which include the number of seating and parking allowed. The list goes on and on.

Now is the perfect time to open a culinary franchise. Research indicates that the current leading spenders, millennials, are eating restaurant meals at a record rate. This makes investing in a restaurant franchise a superb way to capitalize on a booming market. Whether opening a restaurant or a supplier, an enterprising business person can find success in food-industry franchising.

Because of an Internal Revenue Service decision made weeks after restaurants started accepting their PPP loans, normally deductible business expenses are no longer deductible if the business pays the expense with a PPP loan that is subsequently forgiven, according to the association.

Changing consumer preferences: Consumers are shifting from traditional retail spending on goods toward experiential spending on services. Restaurant operators are tapping today’s shifting customer preferences for healthier menu options as well as ethnic and international options to attract millennial customers, who are more open to these new experiences and options.

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