The Franchise King®

Will The Restaurant Business Grow In 2015?

food business

The restaurant business can really have serious ups and downs. Just look around.

(This post may contain affiliate links. Please read my disclosure policy).

I don’t know about your area of the country, but here in the Midwest, the restaurant industry is always interesting-to say the least.

Interesting in the fact that there are always openings and closings happening. Always.

 

A Restaurant Business Background

A lot of people write about and report on restaurant industry news. I doubt very much if most of them have ever worked in a restaurant.

I have. I was in the restaurant business for many, many, years.

I started as a busboy and worked my way into restaurant management. I was even a Maitre’D in Las Vegas.

in las vegas

I worked in Asian restaurants, family-style restaurants, and upscale restaurants. I worked my butt off. Everyone in the restaurant business works hard…really hard. The restaurant business is not for the weak and it’s not for the meek.

I do know the restaurant business. I’m a great person to talk with if you’re considering a food franchise.

 

Openings And Closings

In my area, Northeast Ohio, restaurants are opening and closing all the time. Mostly closing as of late.



Free Franchise Quiz
Find Out If You Should Own A Franchise Before You Write That Big Check
Invalid email address


Here are a few of the ones that recently closed:

White Castle

Friendly’s Restaurant And Ice Cream

Panini’s

And, on New Years Eve, Claddagh Irish Pub.

The ones I just named are only the tip of the iceberg. Dozens of small restaurants closed their doors in the past several months.

The rumor around town on the Claddagh closing is that the rent they were paying was becoming too much to handle.

Tip: Before you buy a restaurant, make sure you can afford the rent. Make sure the numbers add up. Put the rent factor in your business plan.
 

 
Remember: A long-term lease is just that: Long-term. Commercial leases are tough to get out of.

Anyway, it always amazes me…the number of restaurants that close each and every year…in my area.

Do a lot of restaurants close in your area? Let me know in the comment section. I hope it’s not just here in Cleveland.

And, if you’re thinking about becoming the owner of a restaurant, do a lot of research. Try to learn as much as you can about the food business.

The good news is that success can be had as the owner of a restaurant-or restaurants.

 

Will The Restaurant Business Grow In 2015?

I think it’s hard to gauge. Turnover in huge. Two new restaurants can open…but 3 close.

Anyway…

One restaurant industry expert is predicting pretty good things for restaurants in 2015.

From Nation’s Restaurant News:

Larry Miller, co-founder of the NRN-MillerPulse restaurant tracking survey, said that annual restaurant same-store sales should finish at an increase of 1.8 percent in 2014. He’s expecting just over a 2-percent increase in 2015.”

If you’re interested in the restaurant business, I encourage you to read the rest of the in-depth article on restaurant predictions for 2015 from Jonathan Maze.

 

Please Share This Article!
1Shares
follow us in feedly
franchise article written by joel libava
Note: When you buy through links on this website, we may earn an affiliate commission. In addition, I've started to use AI to help me craft better article titles and headings.
joel libava

I'm The Franchise King®, Joel Libava. I help prospective franchise owners avoid bank account emptying mistakes.
For 23 years, I’ve been showing people how to make smart, informed decisions on franchises to buy, and I can help you, too!
P.S. I'm not a franchise consultant/broker.

Joel Wrote The Book
Joel literally wrote the book on becoming a franchise owner. He is very knowledgeable (and very forthcoming) about the ins and outs of buying into a franchise system. I recommend Joel for concrete advice on evaluating the business end of franchise opportunities ."
- Jeffery Fabian, Owner of Smart Content
Free Franchise Tools Franchise Compatibility Quiz Net Worth Calculator
VIP Franchise Newsletter

"Many receive advice, only the wise profit from it."
- Harper Lee
Recommended Reading
How Franchises Work
How Much Is A Franchise?
Pros And Cons Of A Franchise What Is The Franchise Fee? How To Buy A Franchise
Best Franchises To Own

Top 33 Business Ideas
6-Figure Home Businesses Starbucks Franchise Facts
Featured Franchises!
10 Best Franchise Websites
About Franchise Consultants
How To Read A FDD
Questions To Ask Franchisors
Questions To Ask Franchisees Franchise Discovery Day Franchise Reviews
Top 10 Franchise Buying Tips

Visiting Franchise Headquarters? You Can Book Your Flight Here!