Technomic projects the restaurant industry will grow 3.7% in 2011. Although a modest gain, a big reversal from recent years. Consumer confidence, GDP, restaurant spending and sales are all up and unemployment is down. With such fragile slow growth, companies can’t be too optimistic as events like Japan’s earthquake are being felt on Wall Street. Rising gas prices are also affecting recovery. In terms of planning, 2011 should be viewed as a transition year and a time to start gearing up for brighter times ahead rather than a time to hurtle forward with aggressive expansion and growth initiatives. Maybe we should start hoping for a natural miracle to help speed things up.
Monkeydish.com, 3/28/2011
