By: Sentry Marketing Group

August 31, 2015

Every year, the National Restaurant Association releases a comprehensive forecast and overview of the restaurant business, based on the previous years’ performance, economic trends, and its now almost 100 years of experience monitoring and serving the industry. This year, it noted an improving economy it predicted a record high in restaurant sales, growth, and employment. Here are some highlights.

This year, total food industry sales are expected to exceed $700 billion.  More than half of that, $491.7 billion, is expected to come from restaurants and bars.  Employment in the industry should top 14 million, with more and more employees between 20 and 35. That mans that one in ten Americans will be employed in the foodservice industry in one capacity or another.

Check out the National Restaurant Associations full 2015 forecast here.

In an infographic produced in tandem with the report, the organization highlights the importance of the restaurant industry in the nations economy.

For most restaurant owners, this is nothing but good news.  But for those who haven’t seen the kind of growth that numbers like these would suggest, it’s time to take a look at what might be holding you back.  Ask yourself a few questions:

1. Are your customers loyal?

If not, you need to figure out what’s going wrong, and fast.  It costs 3-7 as much to attract a new customer as it does to keep a current one happy.

2. Are you visible?

Is it easy for new customers to find you?  Are you active on social media?  Have you claimed all of your online spaces?  Mobile devices are how people find restaurants these days.  Make your digital presence known and maintain your digital reputation.  It will make for and more of the difference in the years to come.

3. Are your employees engaged?

In a customer-facing industry like the restaurant business, your front-line staff are your business as far as your customers are concerned.  If they’re not actively promoting the vision that you’re selling, you need to consider what you might do to get your employees on board.

4. Are your costs reasonable?

Restaurant owners are often surprised at how much waste they could reduce with a reorganization of the kitchen, a slight adjustment to policy, or a couple of changes in the menu.  Take a look at what you’re spending and get specific about the returns you’re getting.