There is much to be said with the state of the current economy. People love to eat out, but the weak economy could be testing their appetite for restaurant food.
Rather than just an infrequent visit, a restaurant meal has become a daily ritual for many people.
A competitive environment for restaurants is getting tougher as hungry consumers spend more time cooking at home. With the current economy being the main culprit moving people in this trend.
As unemployment rates rise and home prices fall, people feel both less wealthy and more insecure about their future income. Even if consumers do decide to eat out or order in, they're increasingly likely to experience sticker shock when the bill arrives. Prices of many necessary food items used in the restaurants have skyrocketed, meaning restaurants are paying more and more for their raw materials - thus leaving many operators feeling the squeeze. Do they increase prices and potetially drive away cash-strapped consumers, or suffer with narrow profit margins? Some questions evoke many answers, or more questions, or much debate.
Conversely, being an employee and not an employer, how will the economic downturn affect me and my present position? Do I take a second job, and if so, can I find an employer willing to 'work around my other job', or do I 'weather the storm'?
My feeling is that in these tough economic times, we have to be diligent and work harder than ever to retain the customer base that we have.

Views: 2

Replies to This Discussion

Saving Major-Money in Today's Economy? NO Account to open... NO Forms to fill out... NO Email to enter...
Click, Print & Save... Period! Canada's #1 FREE Dining Coupon Website... http://yummycanada.com

RSS

Advertisments

 

DEPARTMENTS

Social Wine Club for Craft Wineries

Smartbrief

GrubHub: Hotel guests rely more on local restaurants

Online orders from hotel guests jumped 125% over the past three years, as travelers cut spending on room service and opted fo -More

GHIRARDELLI® — Premium, Indulgent, Versatile
81% of consumers prefer to order products Made With Ghirardelli ingredients and 72% will pay more for them. For samples, recipes or to consult with one of our chocolate experts visit www.ghirardelli.com/foodservice.

Tweet this: What did your #FirstJob teach you?

Team work, multitasking and customer service are among the lessons restaurant employees learn early on.  -More

Many contenders are seeking to become a breakfast champion

Yum Brands, Burger King and others see big potential for growth and profit in breakfast as consumers move away from cereal, b -More

JOBS & CAREERS

Posting a job or finding a job starts here at FohBoh. Call us about special $50 posting packages to syndicate across all major jobs boards.

National News

National Restaurant Association Applauds Workforce Innovation and Opportunity Act

Today the National Restaurant Association (NRA) praised federal leaders’ commitment to workforce training programs through the Workforce Innovation and Opportunity Act. NRA’s Executive Vice President of Policy and Government Affairs, Scott DeFife, issued the following statement of support:

Restaurant Trends - Growing And Emerging Concepts - Change and Activity July 22, 2014

Update from Restaurantchains.net on growing and emerging restaurant concepts

Tropical Smoothie Café Commits $20 Million for Franchisee Financing

Tropical Smoothie Café, with the backing of private equity firm BIP Capital, has launched a financing program to help existing franchisees open additional restaurants nationwide by providing up to $20 million in loans.

Domino's Pizza Announces Second Quarter 2014 Financial Results

Domino's Pizza, Inc. (NYSE: DPZ) announced results for the second quarter of 2014, comprised of strong growth in both same store sales and global store counts, which resulted in 17.5% EPS growth, or 67 cents per share.

CROWD FUNDING

If you are looking for capital to start or grow your restaurant, create the next 501c3, develop and launch the next app for the restaurant industry,or want to help your peers in some meaningful way, we want to know about it.

TED TALKS VIDEO

TED: Ze Frank: Are you human? - Ze Frank (2014)

Have you ever wondered: Am I a human being? Ze Frank suggests a series of simple questions that will determine this. Please relax and follow the prompts. Let's begin …

TED: Heather Barnett: What humans can learn from semi-intelligent slime - Heather Barnett (2014)

Inspired by biological design and self-organizing systems, artist Heather Barnett co-creates with physarum polycephalum, a eukaryotic microorganism that lives in cool, moist areas. What can people learn from the semi-intelligent slime mold? Watch this talk to find out.

TED: Shih Chieh Huang: Sculptures that’d be at home in the deep sea - Shih Chieh Huang (2014)

When he was young, artist Shih Chieh Huang loved taking toys apart and perusing the aisles of night markets in Taiwan for unexpected objects. Today, this TED Fellow creates madcap sculptures that seem to have a life of their own—with eyes that blink, tentacles that unfurl and parts that light up like bioluminescent sea creatures.

TED: Nikolai Begg: A tool to fix one of the most dangerous moments in surgery - Nikolai Begg (2013)

Surgeons are required every day to puncture human skin before procedures — with the risk of damaging what's on the other side. In a fascinating talk, find out how mechanical engineer Nikolai Begg is using physics to update an important medical device, called the trocar, and improve one of the most dangerous moments in many common surgeries.

© 2014   Created by FohBoh.

Badges  |  Report an Issue  |  Terms of Service