29% of Restaurant Operators Surveyed by Toast Hope to Open a New Location in the Next Year
01 Novembro 2023 - 5:05PM
Business Wire
Toast’s Voice of the Restaurant Industry Survey
outlines restaurants’ top pain points, how they are reacting to
macroeconomic changes, and what’s top of mind for the future.
Restaurants have been in somewhat uncertain territory in 2023 as
the U.S. federal government has attempted to cool inflation,
affecting everything from food expenses and services to housing
costs and fuel. As restaurants navigate evolving guest demands and
keep up with changing macroeconomic conditions, they’re proving
resilient and clever in optimizing their businesses, using tools
and new technologies such as integrated online reservation
software, digital ordering suites, ingredient price tracking, and
more.
To better understand how restaurants navigate the current
climate and their priorities for the future, from May 26, 2023, to
June 20, 2023, Toast polled 8471 restaurant decision-makers for its
annual Voice of the Restaurant Industry Survey. The survey outlines
the top challenges these restaurants face in 2023 — from inflation
to hiring challenges and guest throughput — and how these
businesses are reacting to those challenges and planning for the
future, all based on the survey responses. Insights from this
survey are directional and should not be interpreted as
precise.
The good news is that many restaurants have a positive outlook
for the future, especially compared to last year. Approximately 29%
of restaurants we surveyed say they are very likely to expand their
restaurant locations in the next 12 months. That’s up from just 17%
of restaurants we surveyed in 2022.2
While this should not be interpreted as a projection for
the number of restaurants opening next year, it’s positive to see
that respondents have an optimistic outlook for the future
of the industry.
As restaurants look to the future of their business, Toast asked
operators if there were any changes to the level of importance
they’d place on various aspects of running a restaurant. Employee
training topped the list for the second year. Additionally,
operators we polled plan to focus more on revenue streams like
delivery, on- and off-premise dining, catering, and managing their
reservations with technology. Providing employees with health
insurance also rose in importance.
For the full findings from the 2023 Voice of the Restaurant
Industry Survey, please visit the Toast Newsroom.
2023 Survey Methodology
1 To help better understand the restaurant industry, Toast
conducted a blind survey of 847 restaurant decision-makers
operating less than 15 locations in the United States from May 26,
2023 to June 20, 2023. Respondents include a mix of both
full-service and quick-service restaurants. Respondents were not
made aware that Toast was fielding the study. Panel providers
granted incentives to restaurant respondents for participation.
Using a standard margin of error calculation, at a confidence
interval of 95%, the margin of error on average is +/- 3%.
2022 Survey Methodology
2 To help better understand the restaurant industry, Toast
conducted a blind survey of 956 restaurant decision-makers
operating less than 15 locations in the United States from May 13,
2022 to June 28, 2022. Respondents include a mix of both
full-service and quick-service restaurants. Respondents were not
made aware that Toast was fielding the study. Panel providers
granted incentives to restaurant respondents for participation.
Using a standard margin of error calculation, at a confidence
interval of 95%, the margin of error on average is +/- 3%.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231101577614/en/
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