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Restaurant & Food Service Industry

Restaurant & Food Service Industry

restaurant foodservice business industry

This section provides Restaurant & Food Service Business links and resources to assist your startup or small business. Additionally, you can receive free professional business advice and free or low-cost business training from your local Small Business Development Center!

View our related business reports here: Fast Food Restaurant and Full Service Restaurant

Food Service Industry Overview, Pandemic Impact and Recovery

Due to the global pandemic peoples’ ability to go out was limited causing food service industry to suffer the most. According to US Department of Agriculture Report, the average spending in the food service industry fell 29% in the first three months of the pandemic as compared to the same time period in 2019, the industry adapted and slowly began the recovery nearing pre-pandemic levels. COVID restrictions, along with  technological advances, led to an increase in innovation and accelerated adoption of delivery apps, curbside and carry out services.  With restaurants limiting in-person dining and switching to delivery there was less need for brick-and-mortar restaurants which led to rise in virtual restaurants like ghost kitchens.

The National Restaurant Association Report identifies other industry wide changes that affected the food industry, to include labor costs, supply chain issues, and inflation.  Around half of the restaurant business operators mentioned labor recruitment and retention as one of the top issues with seven in ten owners were not able to open in full capacity due to staffing shortages. In part the issues were attributed to increased labor costs. According to a survey of restaurant owners conducted by Alignable.com about 58% respondents reported spending at least 50% more on labor than they did pre-pandemic, and roughly 29% reported that their labor cost had doubled.

Global supply shortage has led to an increase in prices of food, Global Trade reports that 92% of restaurant owners identified rising food costs becoming a significant issue. One of the reasons for supply chain shortages being the global geopolitical climate causing an increase of prices for grain and cooking oil.

The inflation rate has been slowing down in recent months, but caused an overall hike in prices in the food service industry over the past by 8.2% for full-service and 6.7% at limited-service restaurants.

Business Associations

Business Plans

See also: Business Plans

Food Service Concepts

See also: Franchise

Restaurant Operations

Food Service Review Sites

Food Trucks

Restaurant Technology

Business Publications

Statistics & Demographics

More Online Resources

  • Downloadable Resources – ready-to-use forms, manuals, procedures and worksheet templates
  • Checklists – guides to help organize operations, procedures, practices & systems
  • Forms and Checklists – free forms, posters & quizzes covering topics such as: general business, tax, employment & food safety.

Additional Resources

Already in business or thinking about starting your own small business? Check out our various small business resources:

Remember, you can also receive free professional business advice and free or low-cost business training from your local Small Business Development Center!

Photo credit: Photo by Rod Long on Unsplash

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