Do You Love Food? - Then Maybe Opening a Restaurant is Not Such a Crazy Idea
If you love food and always dreamed of owning your own restaurant - now is the time to learn more about the industry and what it takes to operate and market a profitable restaurant:
The restaurant industry in the United States employs an estimated 12.2 million people, making it the nations largest employer outside of government agencies. This industry provides work for more than 9 percent of those employed in the United States.
Eating-and-drinking places are extremely labor-intensive sales per full-time-equivalent employee were $57,567 in 2003 and notably lower than other industries. More than four out of 10 adults have worked in the restaurant industry at some time during their lives and 27 percent of adults got their first job experience in a restaurant. Every additional $1 million in restaurant sales generates an additional 42 jobs for the nations economy. In 2004 more than 54 billion meals were eaten in restaurants and school and work cafeterias.
The typical employee in a foodservice occupation is: - Female 55% - Under 30 years of age 52% - Single 68%
Between 1970 and 2002, restaurant-industry sales will post a compound annual growth rate of 7.3 percent. Industry pundits are now tipping that restaurant industry sales on a typical day in 2005 will topple $1.3 billion. This equates to an annual estimate for 2005 of $476 billion in restaurant sales. This also includes the impact that such sales will generate in related industries such as agriculture, transportation and manufacturing. They estimate that there will be more than 900,000 locations serving more than 70 billion meal and snacks. The industry will continue to expand driven by the desire of Americans need for convenience an increase in their disposable income, and the need for fast food to fit todays busy lifestyles.
Learn more about developing your own restaurant business plan: