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| November 25, 2003 |
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Industry at a Glance |
The overall economic impact of the restaurant industry is expected to reach $1 trillion in 2003. This includes sales in related industries such as agriculture, transportation, wholesale trade, and food manufacturing.
- Sales: $426.1 billion
- Locations: 870,000 — more than 54 billion meals will be eaten in restaurants and school and work cafeterias
- Employees: 11.7 million — the industry is the largest employer besides government
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Food-and-drink sales
(Billions of Current Dollars)
* Projected |
Type of Establishment
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2003 Sales
(Billions) |
Commercial
Eating Places
Drinking Places
Managed Services
Hotel/Motel Restaurants
Retail, Vending, Recreation, Mobile
Other |
$391
$297
$14
$28
$19
$33
$35 |
Cornerstone of Our Nation's Economy
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Highest Household Per Capita Food-Away-From-Home Expenditures
(1998-99)
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- On a typical day in 2003, the restaurant industry should post average sales of nearly $1.2 billion.
- More than 54 billion meals will be eaten in restaurants and school and work cafeterias in 2002.
- Restaurant-industry sales are forecast to advance 4.5 percent in 2003 and equal 4 percent of the U.S. gross domestic product.
- The restaurant industry provides work for more than 9 percent of those employed in the United States.
- The average annual household expenditure for food away from home in 2000 was $2,137, or $855 per person.
- In 2003, the restaurant industry's food-and-beverage purchases will exceed $150 billion.
- Between 1970 and 2003, restaurant-industry sales will post a compound annual growth rate of 7.2 percent.
Of the 11.7 million restaurant employees...
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- The restaurant industry employs an estimated 11.7 million people, making it the nation's largest employer outside of government.
- Eating-and-drinking places are extremely labor intensive-sales per full-time- equivalent employee were $55,351 in 2001 and notably lower than other industries.
- Total annual wages and benefits equal $49 billion for fullservice restaurants and $35 billion for limited-service (fast-food) establishments.
- One-third of all adults in the United States have worked in the restaurant industry at some time during their lives.
- The typical employee in a foodservice occupation in 1999 was:
- Female (58 percent)
- Under 30 years of age (52 percent)
- Single (67 percent)
- Working part-time and averaging 25.6 hours a week
- Living in a household with two or more wage earners (80 percent)
Eating-and-Drinking Places are Mostly Small Businesses
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- Average unit sales in 2000 were $650,000 at fullservice restaurants and $585,000 at limited-service (fast-food) restaurants.
- More than seven out of 10 eating-and-drinking places are single-unit (independent) operations.
- One out of three eating-and-drinking places is a sole proprietorship or partnership.
- More than seven out of 10 eating-and-drinking places had less than 20 employees in 2000.
- More than eight out of 10 salaried employees at tableservice restaurants started as hourly employees.
- Restaurant-industry employment will reach 13.3 million by 2012.
- Eating-and-drinking places employ more minority managers than any other industry.
- More than two-thirds (68 percent) of supervisors in food-preparation-and-service occupations in 2000 were women, 16 percent were African-American and 13 percent were of Hispanic origin.
- Eating-and-drinking places rank second, based on sales volume, among retail establishments owned by African-Americans and Hispanics.
- The number of African-American-owned and women-owned eating-and-drinking-place firms increased at double-digit rates during the past decade with sales also rising dramatically.
- Foodservice-and-lodging managers account for the largest number of managerial employees in the country — 1.5 million.
Ongoing Research Reveals…
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- In 2010, the restaurant industry will operate more than 1 million units and post sales of $577 billion.
- More than 50 percent of all consumers visit a restaurant on their birthdays, making this the most popular occasion to eat out, followed by Mother's Day and Valentine's Day.
- August is the most popular month to eat out, and Saturday is the most popular day of the week for dining out.
- Roughly three out of 10 restaurant operators have an e-mail address for customer response or comment.
- Roughly half of tableservice-restaurant operators have a Web site.
- Three out of five tableservice-restaurant operators report having access to the Internet at the unit level.
- Roughly one-third of tableservice-restaurant operators plan to allocate a larger proportion of their budget to food safety in 2003.
- Median pretax income for fullservice restaurants (average per-person check $15 to $24.99) was 4 percent of total sales in 2001.
source: National Restaurant Association | |
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