Industry Analysis & Industry Trends
Changing social trends have fuelled a recovery of the Restaurants industry over the past five years, helping it to bounce back from a low point during the global financial downturn. The industry is expected to post annualised growth of 3.6% over the five years through 2014-15, including a rise of 2.0% during the current year, to total $11.7 billion. Busier lifestyles and the diminishing availability of leisure time have increasingly led consumers to turn to restaurants as a solution. Restaurants have allowed consumers to combine dining with leisure and avoid spending time on food preparation.
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