According to the National Restaurant Association (NRA), the restaurant industry in the U.S. will reach some landmark numbers in 2015.
The NRA expects the industry to reach $709 billion in sales this year. The number of people employed by the industry is expected to reach 14 million. Finally, the industry will reach one million locations in 2015.
The NRA also expects sales growth to accelerate in 2015. This would represent the sixth straight year of real sales growth for the restaurant industry in the U.S. This is impressive, given the negative impact the financial crisis of 2009 had on consumer spending.
The NRA though is not overly optimistic about the industry. Indeed, it noted that while the industry is seeing growth, the rate of growth is still modest in historical terms. In fact, the NRA noted in its report that the modest growth rate begs the question, "Is this the new normal?"
Hudson Riehle, Senior Vice President of Research for the National Restaurant Association, said that certain components of the business climate remain a challenge as regional variability in employment levels and disposable income gains still put a damper on the overall environment.
Monday morning, Southern Concepts Restaurant Group Inc. (OTCQB:RIBS), a Colorado Springs-based company focused on the fast casual barbecue concept, announced that it will open its first Carve Barbecue fast casual location this October in Glendale, Colorado. The restaurant will be located at 1000 S. Colorado Blvd., in a 2,500-square-foot building. The company expects to benefit from visibility as more than 80,000 cars pass the area on a daily basis.
The restaurant will feature a quality food menu, as well as craft brews and local wines. Mitchell Roth, CEO of Southern Concepts, said that Carve is different than your traditional pit barbecue restaurant as it is without boundaries.
Roth further said that that the restaurant’s menu will reflect barbecue influences from around the country, and will be setting itself apart by choosing only the finest quality, all-natural meats, such as those produced by Creekstone Farms.
Creekstone Farms is a USDA-certified company, supplying many of the U.S.’s top-grocers and restaurants with quality Black Angus Beef products.
Commenting on the Glendale location, CEO Roth said that it will be the first of many for Carve Barbecue. Roth added that the company plans to open at least four more Carves by the end of next year.
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