Restaurant Industry Facts Preface: This article is very important for those looking for facts relating to restaurant industry. If you intend to join this industry you must read this to take an informed decision.
Restaurant-industry sales are projected to reach a record $426.1 billion in 2003. The restaurant industry employs more than 11.7 million people in 870,000 locations. Restaurant-industry sales are forecast to advance 4.5 percent in 2003 and equal 4 percent of U.S. gross domestic product.
The restaurant industry provides work for more than 9 percent of those employed in United States. The average annual household expenditure for food away from home in 2000 was $2,137, or $855 per person.
Restaurant-industry employment will reach 13.3 million by 2012. At present restaurant industry is nation's largest employer outside of government. The Bureau of Labor Statistics predicts restaurant industry's growth will be 30 per cent over next two years. Industry professionals and owners indicate that biggest challenge facing industry is finding educated, competent, and well-trained management personnel to handle this growth.