#restaurant-industry

#restaurant-industry

The restaurant industry is grappling with big questions this year. Diners these days are more value-conscious, more selective, and more willing to stay home; and costs, along with competition, continue to rise for operators. As big chains and local independents try to protect sales or regain their footing, analysts who spoke to Business Insider said the year ahead will come down to whether restaurants can do more with less, without losing what made people want to dine out in the first place.

Drive-thrus will open in Lebanon and Antioch on Wednesday, Dec. 10 and Murfreesboro on Friday, Dec. 12, according to a news release. News agencies in Tennessee are not yet reporting what kinds of crowds are expected, but In-N-Out's debut in the Southeast has been eagerly anticipated. The expansion will bring the total number of In-N-Out restaurants to 431 and officially put the chain in 10 states: California, Arizona, Nevada, Utah, Texas, Colorado, Oregon, Washington, Idaho and Tennessee.

I was tired of making $15 per hour and having no benefits, no time off, and no future after 20 years of experience. I wanted kids someday and wanted the kids to be able to see a doctor before they were old enough to get a job themselves. Restaurants simply cannot provide that. COVID-19 just really drove it home how owners would VASTLY prefer their employees to all die than take a slight hit on profits.

Momofuku founder David Chang says America's youth isn't drinking alcohol in the same way as earlier generations, and it has become the "real existential threat" to the restaurant industry. "Kids just don't drink anymore," Chang said in an interview with TBPN talk-show hosts John Coogan and Jordi Hays this week. "They are never going to know what it is like to wake up at 3 p.m. in the afternoon and be like: 'Shit, I left my credit card in that bar.'"

There are more than 52,000 Mexican and Tex-Mex restaurants in the entire U.S., per IBIS World. Further data from the Pew Research Center, conducted in 2024, found that 11% of American restaurants serve Mexican-style dishes, and a whopping 85% of counties in the U.S. are home to at least one Mexican restaurant. All of this is to say: Mexican food is a big deal in America.

"We had signed the lease in 2007... quite an expensive lease, which was a regular lease at the time," the chef tells Katie Byrne on the latest episode of the Money Talks podcast. "It was about €125,000 a year rent for the space. We signed that with personal guarantees - we were a bit naive going in, we kind of said, 'ah yeah, sure we'll just sign whatever we need to sign'. And then the crash happened and it was... yeah, it was difficult."

McDonald's, Burger King, and Olive Garden have all recently unveiled discounted menu offerings as low- and middle-class consumers have been more loudly signaling that they are feeling pinched by inflation and anxiety about a weakening jobs market. IHOP's new nationwide, everyday $6 value offering ($7 in some pricier markets) features four breakfast meals, ranging from a ham-and-cheese omelet that's paired with buttermilk pancakes to scrambled eggs with cheese and hickory-smoked bacon and served with hash browns.

I come from a restaurant family. My grandparents opened Henry's Hunan-the only Hunanese restaurant in the city at the time. Chinese food in San Francisco was largely American Chinese or Cantonese-inflected, so it was unusual to have this different region represented. I spent childhood Saturdays at the restaurant, making Shirley Temples, and helping seat people. I waited tables in college but never saw a career in the restaurant industry. I then worked in documentary film for many years.

After seven years as a senior leader at Taco Bell, Julia Stewart joined Applebee's as president in 1998. She left after three years when she was denied a promotion to CEO, she says, despite being promised and earning the role - during her tenure, company and franchise sales skyrocketed, and so did the stock price, per Fortune. Soon after the snub, she joined IHOP as chair and CEO in 2001, per LinkedIn.

I know how damaging it can be when new regulations target one industry while leaving others untouched. It's especially disheartening because the majority of owners are immigrants who already live with the daily fear of raids and growing hostility toward our communities. As someone who's lived the journey from dishwasher to business owner, I'm urging the board to recognize that further targeting local restaurants is unjustified, and to reject this proposal.

"On average, independent restaurants make 3-5% profit margins, and that's on good days," McBride says. "You are getting into this business because you truly believe in hospitality."

Under the Employment (Allocation of Tips) Act 2023, 100% of service charges collected in a venue must be shared among workers in a fair and transparent way, and employees have the right to know how tips are allocated and distributed.

"Going to school is super important - I tell that to the young cooks we have. Some people think you can learn in the kitchen. Yes, you can. But when you come into a kitchen with techniques that are already embedded in you ... it puts you on a different level."

Spending data indicates that, despite consumers' belief that they are dining out less to save money, restaurant spending per household actually increased 2.1% between March and June.

Rubio's Coastal Grill has faced significant decline since 2017, filing for Chapter 11 bankruptcy twice, with a challenging economic environment impacting its operations in California.

The challenge of opening an Indian restaurant outside India is to balance authenticity and broad appeal, navigating a path between genuine flavors and business profitability.

The Four Horsemen has carved out a niche in Brooklyn’s competitive dining scene with its focus on natural wines and a welcoming atmosphere, appealing to both customers and staff alike.

The characters in 'The Bear' have heart-wrenching backstories that are intricately tied to food, showcasing personal development through the lens of cooking and food experiences.

Oscar Ramirez graduated a decade ago with a business degree, but he's applying lessons learned in his family restaurant rather than in traditional business roles.

The House plan lets workers deduct all reported tips from their taxable income, while the Senate version sets limits of $18,500 for individuals or $25,000 for joint filers.

The difference between those who succeed and those who don't often comes down to how they handle this criticism and whether they can stay focused on their vision.