Industry Analysis & Industry Trends
Changing social trends have fuelled strong growth for the Restaurants industry over the past five years. The industry is expected to post annualised growth of 6.2% over the five years through 2015-16, to total $13.1 billion. Busier lifestyles and diminishing leisure time have increasingly led consumers to turn to restaurants for meals. Restaurants have allowed consumers to combine dining with leisure and avoid spending time on food preparation. These trends are expected to continue in 2015-16, with industry revenue forecast to grow by 2.3% during the year.
Consumer demand for quality food and fine dining experiences has fuelled industry revenue growth over the past five years... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry in the Restaurants industry are low. This is indicated by the high rate of entries and exits of establishments in the industry. Low initial capital outlays and low industry concentration play a significant role in reducing barriers to new entries. New restaurateurs can enter the market with minimal set-up costs by leasing premises, equipment, furniture and settings. In addition, there is no formal qualification required to operate in the industry, although experience and training in hospitality are desirable and can assist profitability.
Low industry concentration means new entrants can acquire market share relatively easily and quickly without being encumbered by dominant major players... purchase to read more