Do You Love Food? - Then Maybe Opening a Restaurant is Not Such a Crazy Idea

Home
>
Small Business
>
Do You Love Food? - Then Maybe Opening a Restaurant is Not Such a Crazy Idea

Do You Love Food? - Then Maybe Opening a Restaurant is Not Such a Crazy Idea

The restaurant industry in the United States employs an estimated 12.2 million people, making it the nation's largest employer outside of government agencies.

The restaurant industry in the United States employs an estimated 12.2 million people, making it the nation's 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 nation's 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 American's need for convenience an increase in their disposable income, and the need for fast food to fit today's busy lifestyles.

Learn more about developing your own restaurant business plan:

http://www.hjventures.com/restaurant-business-plan.html

http://www.hjventures.com/restaurant-business-plans.html

Howard Schwartz is a partner in several business strategy groups, including HJ Ventures International, Inc. Howard has worked with hundreds of entrepreneurs worldwide with a focus on writing business plans for companies interested in raising capital from Venture Funds and Angel Investors. Howard's business plans have secured several million dollars in funding. For more information: http://www.hjventures.com

In The News:

Couple jailed for 10 years over viral video showing them dancing at Iran landmark
Wed, 01 Feb 2023 12:00:00 +0000
A young couple in Iran have been jailed for more than 10 years each after a video on social media showed them dancing at one of Tehran's main landmarks.

Legendary NFL player Tom Brady 'retiring for good'
Wed, 01 Feb 2023 13:22:00 +0000
NFL legend Tom Brady has announced for the second time that he will be retiring.

Court upholds decision to extend Andrew Tate's 30-day detention after appeal dismissed
Wed, 01 Feb 2023 15:58:00 +0000
A Romanian court has upheld the decision to extend the detention of controversial influencer Andrew Tate to 30 days.

FIFA facing backlash over potential 'sportswashing' Saudi sponsorship
Wed, 01 Feb 2023 11:35:00 +0000
FIFA is facing backlash from Women's World Cup co-hosts Australia and New Zealand over a potential sponsorship of the tournament by Saudi Arabia amid concerns about restrictions on women’s rights in the kingdom.

Biggest year ever for crypto hacking - with North Korea the suspected culprit
Wed, 01 Feb 2023 13:00:00 +0000
2022 was the biggest year ever for cryptocurrency hacking, with more than £3.2bn stolen worldwide, according to new research.

tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.