Foodservice Equipment & Supplies

FEB 2018

Foodservice Equipment & Supplies magazines is an industry resource connecting foodservice operators, equipment and supplies manufacturers and dealers, and facility design consultants.

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HEAD 1 Head 2 78 • FOODSERVICE EQUIPMENT & SUPPLIES • FEBRUARY 2018 A bright spot in the volatile foodservice industry, fine dining now features broader menu offerings and less stuffy service. By Lisa White T he fine-dining segment has, for the most part, been fortunate in comparison to other restaurant types. Fine dining has the benefit of being insulated from economic influences, as consumers tap into these operations for splurges, celebrations, corporate entertaining and other occasions. A Business Insider report notes because these restaurants offer a more experience-based dining proposition for a less price-sensitive consumer, folks with money continue to spend at fine-dining establishments. As of October 2016, the last period for which this data is available, there were more than 5,100 fine-dining restaurants in the U.S. with check averages more than $50, according to Chicago-based research firm CHD Expert North America. Fine-dining restaurants make up 1.4 percent of America's full-service restaurant landscape and account for 0.73 percent of the total restaurant landscape. In terms of the breakdown, steak and seafood menu types make up 21 percent of the fine-dining segment, while family steak/chophouse ac- counts for 20 percent and American traditional makes up 16 percent. When it comes to annual sales, the fine-dining segment rakes in more than $10 billion in sales, with an average unit volume of almost $2 million per unit, per CHD Expert's data. In comparison to the rest of the industry, all full-service restaurants average $824,000 in revenue per unit per year. Only 8 percent of fine-dining restaurants gross more than $5 million in annual sales. While some fine-dining chain restaurants have become household names, 88 percent are considered independent operators with nine or fewer units, reports CHD Expert. The Fine Tuning of Fine Dining

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