2012 will be a Year of Growth for the Restaurant Industry

In February, the National Restaurant Association’s 2012 Restaurant Industry Forecast released its projections for the upcoming year. The good news is that 2012 will hold steady gains – both in profits and in jobs – for the restaurant and food service industries.  In consideration of a still-lagging economy, the forecast was even better than what was expected among those in the industry who weren’t sure if we had seen the worst of the downturn, with a 3.5 percent increase over the 2011 numbers.  2012’s projected $632 billion dollars in sales gives everyone in the business a positive outlook regarding the year ahead, particularly if you offer locally grown ingredients on your menu.  

Additionally, as concerns of job loss still weigh heavily on the minds of most Americans, it’s good to know that the restaurant industry will continue to remain the second largest private sector employer.  The food services and restaurant industries also beat out other private sector industries in adding jobs and gaining back the staffing numbers that were lost during the worst of the recession. In fact, it is projected that by the end of 2012, the restaurant industry will have gained back all of the employees that it lost since 2008 and the beginning of the recession.   

  

The National Restaurant Association also anticipates that within the next decade, there will be 1.4 million jobs added to the positions currently held, making the restaurant industry workforce one of the nation’s largest, at 14.3 million people. What this means is that businesses currently in the restaurant industry have an excellent opportunity to take advantage of a year of projected growth, and a job market with many candidates who are anxious and qualified to work.  

Ensuring that your restaurant’s structure is set up to handle this kind of growth is crucial forward thinking in a time when the industry is set to expand rapidly to meet the growing demand for quality food that focuses on nutritional value and the local economy.  Keeping in touch with your base clientele is essential, as is establishing and maintaining a network of loyal customers who will return to your tables often, bringing friends and relatives with them.