Many people know that it is quite expensive to run a restaurant. Of all the businesses that open, restaurants are the mostly likely to close within the first year or two. Reports show that one of those reasons is the costly over head to run a restaurant. Operating costs for restaurants is over 50% which is the most since these studies started several years ago. This is in large part due to the rise in minimum wage.
- It is more expensive to have a restaurant than last year.
- It is even harder on the restaurant operators with minimum wage being increased.
- Other countries out of the UK are suffering even more
“Average operating costs in the restaurant sector now account for over 50% of turnover, according to a new study in to the state of the licensed hospitality sector.”
Read more: http://mobile.bighospitality.co.uk/Business/Restaurant-operating-costs-rise-above-50-turnover
What Amazon’s Whole Foods Buy Means for Quick Service
Amazon just recently purchased Whole foods, which is a health food chain throughout the country. Amazon is going to be meal kits with Whole Foods which will be a bit expensive but they have all of the high quality ingredients people want for a meal. Amazon already offers meal kits but Whole Foods has a following behind them. They are known for their high quality food so having them partner together you are sure to get a fast and high quality kit.
“A robust play at meal kits could certainly threaten fine dining restaurants, casual dining chains and supermarkets”
Read more: https://www.qsrmagazine.com/exclusives/what-amazons-whole-foods-buy-means-quick-service