by Bob Gershberg, CEO/Managing Partner, Wray Executive Search
There are myriad factors that drive food trends each year from pent up demand for the experience of on-premise restaurant dining to the comparative inflationary pressures of grocery versus restaurant to the desire to protect one’s health and that of the planet. As plant-based meat alternatives lose their luster, consumer interest in plant-based food will get ever stronger. Kelp, mushrooms, dates, plant-based pastas and plant-based milk will continue to gain in popularity. With the massive increase in remote work, dayparts are blurring. Tinned fish is hot as is cauliflower everything. Sadly, Maine lobster is losing steam due to California’s Seafood Watch determining that lobster fishing gear is harming North American whales. Alcohol-free cocktails are on the rise.
The National Restaurant Association partnered with the American Culinary Federation and Technomic to conduct its annual What’s Hot survey. Their findings as follows:
by John A. Gordon, Principal and Founder, Pacific Management Consulting Group
Merry Christmas and Happy Holidays forthcoming!
So I am back from the Restaurant Finance and Development Conference. 3300 people attended, the most ever. There were two other major restaurant events in the world that week. I had the high honor to moderate the M&A Panel: What Are Conditions Now and How to Close More Deals in 2023. The Four-panel members were outstanding and laid out that and more. Panel member Susan Miller laid out the highly anticipated current M&A multiple ranges for business types by maturity.
Current View of the Business for 2023
To be clear, the restaurant business is dynamic and optimistic. It does go through cycles. A down cycle at one point in time is not permanent, history shows it will reverse soon! Do not despair at a down point. There is always something to do, plan, strategize and improve current operations in the restaurant business.
"Leadership is about keeping your team focused on a goal and motivate to do their best to achieve it. It is about laying the groundwork for others' success, and then standing back and letting them shine."
~ Chris Hadfield
Check out the 2023 industry predictions from Nation's Restaurant News
People with executive presence have a reputation for making things happen. They’re admired for exemplary leadership and respected as an authority. They earn people’s respect — not because they demand it, but because they command it.
Check out the National Restaurant Association's latest report on restaurant industry workforce recovery
November marked the 23rd consecutive month of employment growth, but the industry was still 462,000 jobs below pre-pandemic levels.
The restaurant industry’s workforce recovery continued at a steady pace in November. Eating and drinking places* added a net 62,100 jobs in November on a seasonally-adjusted basis, according to preliminary data from the Bureau of Labor Statistics.