Feb 25, 2020
The Restaurant Business in Phoenix
w/ Brandon Brown of Phoenix Business Journal
- BRT S01 EP4 2-23-2020
Guests: Brandon Brown w/ Phoenix Business Journal
https://www.bizjournals.com/phoenix/bio/24441/Brandon+Brown
-
Restaurant Business Overview - Experience & Breakdown
Restaurant business stats / trends
Sam Fox Restaurants Sells Out to Cheesecake Factory
National Statistics
The size and scope of the U.S. restaurant industry
Restaurant Industry Facts at a Glance
- $863 billion: Restaurant industry's projected sales in 2019. 3.6% increase
- 1 million+: Restaurant locations in the United States.
- 15.3 million: Restaurant industry employees.
- 1.6 million: New restaurant jobs created by 2029.
- 10%: Restaurant workforce as part of the overall U.S. workforce.
- 9 in 10: Restaurant managers who started at entry level.
- 8 in 10: Restaurant owners who started their industry careers in entry-level positions.
- 9 in 10: Restaurants with fewer than 50 employees.
- 7 in 10: Restaurants that are single-unit operations.
CBC – Why Restaurants Fail
60% Fail Year 1, 80% fail by year 5
Reason # 1 location and awareness
Like all bus, need op capital to survive until profitable
Can’t pay $15k / mth in rent for good location and sell low profit burger food
Yelp reviews do not help, no time for or trial period anymore
More Info:
Savvy Restaurateur Sam Fox Sells His Business To The Cheesecake Factory
7/2019
he surprised the food world on Wednesday by announcing he was selling his entire business to The Cheesecake Factory, already set to take on two of his brands.
The deal is worth $353 million — $308 million paid up front in cash, and an additional $45 million to be paid over the next four years.
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