Net New openings this week ending 05/08/2020- 316.
Other points of light:
*28 of the 316 new locations openings are chain stores. Except for a handful, the remainder are in non city-centric locations.
*268 are independent filings (90%), Another all time high compared to chain openings (only 10%).
*Sit-down Service- 165, Sit-down Independents are moving away from the city centers. Not many are in cities.
*Counter Service- 132
There has been a teetering of near 50/50 sit down vs. counter service from what had been 75 /25 (sit-down compared to counter)
(1) Counts of sit-down or counter service includes bar/restaurants. In the past sit-down new openings used to be 3/4 of all new openings.
(2) Of the 365,000 sit-down restaurants in the U.S. less than 12,000 are chain restaurants.
(3) Normal net new openings prior to Covid-19 days averaged between 600-850 new openings per week for more than 20 years.