Restaurants
The U.S. restaurant industry is on a tear, poised to shatter sales records in 2024. However, this resurgence comes with its own set of hurdles. This report dives into the current state of the restaurant industry, highlighting its impressive growth trajectory, ongoing labor struggles, and the increasing role of technology.
Industry Breadth and Depth
- Economic Powerhouse: The National Restaurant Association forecasts sales to exceed a staggering $1 trillion for the first time ever in 2024 [National Restaurant Association, State of the Restaurant Industry]. This surpasses the pre-pandemic projections and signifies a remarkable recovery for the restaurant industry.
- Employment Engine: The restaurant industry remains the nation’s second-largest private sector employer, projected to add a significant 200,000 jobs this year, bringing total employment to a substantial 15.7 million [National Restaurant Association, State of the Restaurant Industry]. This trend is expected to continue, with an average of 150,000 new jobs added annually until 2032.
- Diversity on the Rise: Minorities are playing an increasingly important role in the restaurant industry, with 41.2% of restaurant businesses being minority-owned [Webstaurant Store, Restaurant Industry Statistics: A Look at the Big Numbers].
Here’s a snapshot of select publicly listed Restaurant industry companies:
Let’s talk!
Interested in boosting your productivity and profitability? We work with restaurants on financial management, mergers & acquisitions and investor relations.
Our mission is to work with business executives to optimize internal processes and workflows, simplify documentation and improve employee and customer satisfaction.
We help companies define superior strategies, enable disciplined financial management and create operational processes that are grounded in building lasting shareholder value.
Business strategy design, disciplined financial management and operational process excellence: We design for the successful business experience, from analysis to advocacy. Dive into our diverse portfolio and discover how we help create simple, impactful solutions for you.
ALIGNMT is a philosophy every company can use.
Now is the time for your next move. What’s on your mind? Maybe we can help.
