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Restaurant industry sees sales, employment growth
Multiple reports shine a positive light on franchise restaurant market.
The final financial results for 2015’s first quarter are in, and they should give restaurant industry professionals something to smile about. Citing data from TDn2K’ Black Box Intelligence, QSR reported that same-store sales growth increased 2.8 percent during Q1. This data is based on more than 20,000 units representing $48 billion in annual revenue.
“We continue to be optimistic about this new cycle of opportunity for the restaurant industry,” Victor Fernandez, executive director of Insights and Knowledge for TDn2K, was quoted as saying. “For the first time since the recession, the industry has reported three consecutive quarters of same-store sales above 1.0 percent and the last two quarters have both been above 2.0 percent (also a first in over six years).”
Additionally, franchise restaurants continue to be a driver for employment. According to the latest ADP National Franchise Report, the franchising industry, which includes restaurants and food retailers, created 20,000 jobs during March. While this represents a decrease from February, ADP maintained the employment growth rate for franchises still exceeds the overall growth rate for the previous 12 months.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
