Dining out is more than just the meal; it's about gathering with friends, sharing experiences, and connecting with the community. However, as costs continue to rise, that experience is becoming increasingly difficult to afford.
According to the 2024 State of the Industry Report, 98 percent of restaurant owners say higher labor costs are a major issue. In the same study, 97 percent of operators noted rising food costs as another factor driving up menu prices, with 38 percent of restaurateurs reporting their businesses were not profitable in 2023.
Despite increasing costs, many restaurateurs are working hard to keep their customers happy, even if it means absorbing some financial blows. Daniel Serfer, owner of Blue Collar and Mignonette, says he'd rather make less than inflate prices.
According to Serfer, other factors contributing to rising costs include fuel surcharges from food vendors and labor expenses. 'Cooks and dishwashers are paid more, and rightfully so. Everyone wants to be paid well. Our labor costs are higher - but we've always taken care of our people.'
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