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When we interviewed Hudson Riehle, senior vp, research & knowledge group, the National Restaurant Association, for our Trends to Watch in 2012 story he told us that the vast majority of growth in the industry comes from convenience-related, off-premises sales. He went as far as saying that “In fact, if operators aren’t tapping into off-premise, they are leaving money on the table.” Any way to build new revenue streams in a shaky economy is attractive, especially those which require minimal capital investment like takeout, which we cover in this edition.
Also in the category of promising opportunities for off-premises growth is product merchandising (which we also discuss in this edition) and catering – both ways to extend the brand and augment revenues. Just remember, restaurants aren’t the only ones competing for these opportunities – just look at a supermarket near you!