In 2018, food & beverage industry revenue topped $15 Billion for the first time. By 2023, that number is expected to hit nearly $28 Billion.
That's a massive playing field, but it doesn't guarantee success for the small business owner.
The odds a new restaurant location will still be in business after one year are literally worse than a coin toss. According to the Cornell Hospitality Quarterly published by the SC Johnson College of Business, 60% of restaurants fail in their first year.
Practically applied, that means you have to beat 6 out of every 10 competing locations just to stay in the game. Ron Shaich, founder of Panera Bread, describes this as "swimming to stay afloat, not to win the race."
Mr. Shaich is one of more than a dozen food & beverage experts included in this ebook.
You'll also get industry insights from:
- John Mackey, Founder and CEO of Whole Foods
- Jon Taffer, Restaurateur and Host of “Bar Rescue”
- Bill Chait, "The Most Powerful Person in L.A. Food"
- Robert Irvine, Chef and Star of “Restaurant: Impossible”
- And more!
–The Jolt Team