State of Full Service Restaurants Report from TouchBistro Reveals 74% of FSRs in the U.S. Maintained or Increased Sales in 2021; Higher Operating Costs Ate into Profit Margins
January 31, 2022
TORONTO – January 31, 2022 – TouchBistro’s third annual State of Full Service Restaurants Report reveals the financial health of FSRs across the U.S. is more complicated than a few months of lost revenue.
While the initial closure of full-service restaurants (FSRs) in early 2020 was a major financial blow to many operators, findings from the third annual State of Full Service Restaurants Report released today by TouchBistro reveal the financial health of FSRs across the U.S. is more complicated than a few months of lost revenue. The report finds that 74% of FSRs managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10%, compared to 12% in 2019. The research also includes city-specific reports for New York City, Los Angeles, and Dallas to provide insights on location-specific factors affecting restaurants. In addition, the report identifies five emerging trends in the U.S. restaurant industry that can help FSRs navigate these uncertain and challenging times.
Read the full press release here:https://www.restaurantdive.com/press-release/20220128-state-of-full-service-restaurants-report-from-touchbistro-reveals-74-of-f/