ABQ
Well-Known Member
Because we're all about studies and stats around here, here's one from Fortune magazine.I like pizza
Pizza places near me are doing really well. We even have a bit of a run down Wendy’s that rarely ever looked crowded before Covid that now has a drive thru line around the building every night. I definitely think fast food and pizza joints are the biggest beneficiary of people not eating out, plus grocery stores since people are cooking more at home. The biggest losers were high end restaurants and/or places that relied heavily on alcohol sales. It’s impossible to make up huge sales of wine/beer/liquor with takeout. Many restaurants will close and even some of the ones that don’t aren’t doing great, they are just getting by. Getting creative and making money any way they can could be the difference between staying in business and going under. Some did it successfully, some tried and failed and some never tried. I don’t blame the owners if they tried and failed or even if they didn’t try, I am just giving the successful ones credit for figuring it out. I’ve seen some creative stuff that’s pretty impressive.
I'll highlight a few parts for the TLDR coverage:
It should come as no surprise then that many restaurants were forced to shutter in 2020, but the numbers are still shocking. More than 110,000 eating and drinking establishments in the United States closed for business—temporarily or permanently—last year, with nearly 2.5 million jobs erased from pre-pandemic levels, according to the National Restaurant Association. And restaurant and foodservice industry sales fell by $240 billion in 2020 from an expected level of $899 billion.
Of restaurants that closed permanently in 2020, the majority were established businesses and fixtures in their communities; these eateries had been in business, on average, for 16 years, and 16% had been open for at least 30 years. Within this subgroup, these restaurants employed an average of 32 people; and 17% employed at least 50 people before they closed.
I'm sure the number would have been higher than 110k, that quite a few others did make it through, but it's not like every one of them had that ability.Of restaurants that closed permanently in 2020, the majority were established businesses and fixtures in their communities; these eateries had been in business, on average, for 16 years, and 16% had been open for at least 30 years. Within this subgroup, these restaurants employed an average of 32 people; and 17% employed at least 50 people before they closed.