The U.S. restaurant industry should gradually recover this year as consumers ease recession-era spending cuts, says a new report from the National Restaurant Association (NRA). Restaurant sales should reach $580 billion this year, up 2.5% from the year before. (After adjusting for inflation, industry sales will essentially remain flat—but that’s better than 2009, when they took a 2.9% drop.) "The past two years have been very challenging for our industry," says the NRA’s chief executive. "While there are still substantial challenges ahead, the outlook is improving." Despite job losses in 2009, the restaurant sector still outperformed the national economy; job growth is expected to resume in 2010, with an additional 1.3 million career and employment opportunities to come over the next decade.
Outlook improving for appraisers, too. "Little rays of restaurant sunshine have been cutting through the grim economic news over the last several months. So when the NRA headlines a rainbow, it’s time for valuation professionals to take notice,” says Ed Moran. “After crafting new menu offerings that are tasty and, yes, easier on the pocketbooks, all the national chains are preparing to open their doors to more consumers. What’s not to like?" In BVR's Guide to Restaurant Valuations, Moran shows business appraisers—those new to the restaurant niche and old hands—how to apply the NRA's giant toolbox of information plus traditional valuation methods, site inspections, management interviews, checklists, and more—to produce comprehensive, credible restaurant valuations. The new release comes just in time to take advantage in the industry upswing; pre-order your copy today.
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