Restaurant trends forecasted for 2016 are being published by leading restaurant industry groups and market analysts. And predictions for what will be hot in 2016 parallel investments we've seen this year in both large and small restaurant business moves. Let's examine the Who and the Why of what's happening, and what the 2016 dining/hospitality experience will look like for dining consumers, hospitality management, and restaurant market investors.
While it's not surprizing that many restaurant experts have "local" and "sustainable" foods atop their 2016 trend lists, these 2 qualities actually contribute to 8 of the top 20 trends in the Restaurant Association's Top 20 Food Trends for 2016 (a newly-released survey done by The National Restaurant Association of 1500 chefs). So expect more demand and a larger variety of restaurants offerring food made from ingredients that are locally grown, sourced, or produced in-house. Closely related is Sustainability, which takes into account both the sustainability for the environment and of the product's supply chain itself.
Another highlight of the top forecasted restaurant trends of 2016 includes breakfast all day. Hey, more champagne brunches! Trending with a wide range of restaurants (not just McDonalds), many forays are showing to be successful. How about a better fried chicken/fried chicken sandwich? Absolutely. This trend has taken hold in most U.S. cities at both new and existing restaurants. Yum! A great American dish that can be prepared in a variety of delicious ways. And have you had tweaked ice cream sandwiches? Don't miss out. Think shops like San Diego's The Baked Bear and beyond.
In 2015 we saw huge investments in the restaurant industry, most of which followed the trends discussed above. Whole Foods invested in the health food restaurant Mendocino Farms, and Union Square Hospitality Group made a strategic growth investment in Tender Greens. When Jollibee was asked why they spent a huge, undisclosed sum of money to purchase a 40% stake in Smashburger, a Jollibee representative cited the "fresh, never frozen, 100% Certified Angus beef," and the concept of offerring a "better burger".
Restaurants look to be a relatively safe and increasingly popular investment in 2016 again, even for those traditonally outside of the hospitality sector. Just ask Urban Outfitters or TravelCenters of America. Both made major investments in 2015, going outside their normal field of business.
Of course to maintain best analytical accuracy and reporting neutrality, this piece does not endorse investing in any specific restaurant. Like all investments, there are many factors contributing to a project's success or failure.
Restaurant Change is Good... Right?
Restaurant businesses that succeed without changing often and changing well are few. Even so, every year opportunities, profits and businesses are lost over changing the wrong product offering or even a menu change not being done correctly.
Selecting the Best Location for a New Bar or Restaurant
Opening a new bar or restaurant, many business owners choose the actual location early on in the process and with their hearts. But the physical location may be the single largest influence and most important investment in the success of a new restaurant or bar, so it's best to take advantage of the opportunities a good location will provide, as well as to be aware of a location's potential downsides.
Bar and Restaurant Promotions Without a Discount - Maintaining and Creating Brand Value
Although discounts and promotions are usually associated, it’s possible for you to run restaurant and bar promotions without giving up your profit margin. A promotion can be defined as a way to get people to notice your venue, therefore selling more and acquiring return customers. Separating deals from promotions is challenging, but possible and very advantageous in the long term.
