All posts by Restaurantdata

Restaurant closing rates revealed- groundbreaking studies

Restaurant Investor Report Debuts this week. We are publishing some studies link: 2015.pdf

You will see a snapshot of our national report. Next week we will be publishing a report for Metro NY showing real , recent 6 month rates.

Our first evaluations are on the independent restaurant market (US only). Starting with our entire database of independents (406,000) restaurants, we take an omnibus approach and call and google search the entire universe, every 6 months. Using a multi-layered approach we are able to pinpoint to a location who is open open and who is closed. Take a first look above.

NOTHING and NOBODY wants to be cast as QSR.

We have recently noticed a shift towards Fast Casual for single Рunit, independent operators. 

They finally got the message through observing chains like Chipotle with long lines. New openings are revealing a decided shift from less than 1 year ago as they have woken up to the new label/moniker across all cuisines. Whereas some independents have adopted Fast Casual in prior years it was mostly chains until recently.

Futurecast for chain fast casual operators: Shakeouts by fast casual as a category, none with no foreseen horizon. However shakeouts by cuisine, now (burger)-7 years.

Restaurant closing rates revealed 1st half 2015

After 3 years of omnibus corner to corner US restaurant evaluation, fresh numbers are in! We can now display factual information on who has a great success rate by type and style as well as by company name.

The independent and regional chains data set is dominated by full service restaurants (FSR) with 71.5% offering table service. Coverage for this data set began on July 1, 2014. Full year statistics are available on the number of restaurants which remain open and the number closed.

The restaurant chains data set is dominated by counter service restaurants (CSR) with 82.3% of locations offering counter service (CSR). There are now more Fast Casual locations (44,808) in this data set than full service restaurants (35,757). QSR locations represent the biggest slice of the pie with 61.3% of the total.

Some specific current MSA *chain examples include granting the # 1 slot to Boston, MA for having less than a 1% closing rates for chain restaurants in their region. Las Vegas performed the worse with a 3.76% closing rate in the period. In the middle is New Orleans with a 2.05% closing rate.

Some specific independent and regional chain example, #1 New Orleans at 2.79%. At the bottom: Cincinnati-10.23% and in the middle: Los Angeles at 4.62%

* To be considered a chain, a company must have 20 units or more, any less an independent and/or regional multi-unit.

RIR- Restaurant closing and success release

Press release : Irvington, NY (PRWEB) September 08, 2015 launches a breakthrough benchmark service, the Restaurant Investor Report. Estimators, risk managers and futurists now have hand verified, actionable data to evaluate the landscape of winners and losers in the U.S. restaurant world.

Our research staff calls and reviews all 631,000 U.S. independent and chain restaurants every six months to determine if each location is still open.

To download the Top 40 U.S. metro areas for the 1st half of 2015 click here. Until now, there has never been a reliable way to know how many restaurant locations closed and specifically where. Using our in-house researchers, we take a comprehensive approach every six months.

This is not a random sample. We test the entire U.S. restaurant universe – all 631,000 locations. Every restaurant is called and researched to see if they’re still in business at their currently registered location utilizing an intensive all-hands-on-deck 10 week process with their own staff of researchers.

CEO Keith Gellman says “The most important aspect to any great data set is the cleanliness of the data. It’s imperative to our clients that we keep closed locations out, while populating with verified newly opened locations on a regular basis.” As a result of using a lock-step method of finding every closed location every six months and having the actual 23,315 (from this most recent six months, for prior six month periods please contact us) closed stores to evaluate, the results are illuminating and conclusive.

Information produced in reports help operators who are in expansion mode, new restaurant owners and successful owners opening a second location, growing regional chains, expanding franchisee groups, territory managers and large national operations. Readers can get the exact information they need since the data may be filtered to provide a concise report.

Filters are both geographic (region, state, county, zip code, city, etc.) and operation specific (cuisines, service styles, check averages, etc.). Readers will see the number of restaurants – both open now and closed – that meet their criteria and see success rates for their specific target concept and area including by competitor name.

By combining the open/close information with census statistics (population, income levels, etc.), restaurant investors will have a powerful tool for site selection decisions. Readers will be able to see what the “good” hot zones are as well as the “bad” hot zones providing insight never before available.

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