When it comes to the future of food, there’s no shortage of innovation, says David Goldfarb
Goldfarber, the chief operating officer of restaurant consultancy Chainalysis, believes the rise of restaurant chains like Burger King, Panera Bread, and Olive Garden is a trend that’s only just beginning to take off.
“There’s no doubt that the fast food business has a future, but the future that it has in the future is not necessarily in the restaurant,” Goldfarbs says.
“We’ve seen a lot of consolidation in the past decade or so, but it’s not just restaurant chains, but we have other large chains that are moving into this space as well.”
According to Goldfarbers research, there are now more than 500 restaurant chains operating in the United States, a number that’s projected to double by 2020.
These chains are all focused on one thing, and one thing only: serving delicious food.
And that’s where the industry is going.
Goldfarbes research found that nearly two-thirds of the U.S. population has been served at least one meal at a restaurant in the last year.
And according to Goldfaris research, this number will continue to grow.
The next wave of restaurants is in the works, with a number of companies like Chipotle, Shake Shack, and Panera among the newest to enter the market.
“When I talk about a restaurant business, it is very, very simple.
You start with the premise of, we want to serve delicious food,” Goldfarias co-founder, David Goldfavis, said in a press release.
“Then you build the business around that premise, and you take the best ingredients and you bring them to life.
That’s the business model that Chipotle has.”
Chipotle and Shake Shack are among the companies that are also expanding their menus, with Shake Shack adding more than 20 new locations this year.
It’s hard to say how many of these restaurants will ultimately succeed, but Goldfarbos research indicates that the trend of ordering at least some food at restaurants is set to continue.
“I think it’s just going to continue to get more and more mainstream and more and less and less niche,” Goldafaris says.
“[But] I think the food will still be served.
I think it will be as ubiquitous and as accessible as the food is now.”
For Goldfaras research, Goldfarbis restaurant was chosen because it offers a menu of traditional American fare like hamburgers, burgers, and wings, and also offers a wide variety of salads, sandwiches, and desserts.
In addition, Goldfariais restaurant serves a wide range of dishes from the Mediterranean, Middle Eastern, and Asian cultures, which are all staples in the fast-casual market.
For this research, Chainalysis partnered with Food & Wine, which offers a food industry newsletter, to conduct the survey of 1,000 people who work in the food industry.
The results of the survey revealed that the average worker in the industry earned more than $150,000 a year, and the average person who works in the service industry earned an average of $80,000 annually.
“This is one of the most challenging jobs in our industry, but if you’re able to do it and do it well, you’re going to be able to earn more,” Gold Farbans executive vice president of research, David Goldstein, said.
“People who work for the restaurants are going to have to be very creative in how they do things.”
According the survey, people who are in this type of job make up around 15 percent of the overall food industry workforce, and they earn an average $80 per hour.
The top 10 industries by worker income in the U, as of January 2018, were: Retail Sales & Services, $74,900; Transportation & Warehousing, $73,800; Food & Beverage, $72,500; Retail & Wholesale Trade, $70,800, and Construction, $69,900.
According to the Food & wine, a $20 million investment will make the restaurant chain more profitable than the average restaurant.
Goldfias restaurant will be located in the heart of downtown Los Angeles, near the Staples Center.
The restaurant is expected to open by 2020, and it will have over 100 employees on site.