As the casual-dining industry suffers one of its worst downturns, CFOs are in the kitchen and feeling the heat.
Edward Teach, CFO Magazine
December 1, 2008
The CFO article is a good one. Many chain restaurant operators right now are hunkering down, cutting costs and hoping for the turnaround. But restaurants must continue to fundamentally restructure. Adapting to changing monetary and credit conditions, the diversification of society (the casual dining sector is fundamentally a suburban, auto-centric market) and adapting to changing work schedules, tastes and preferences is important. The casual dining operators need to figure out how to make a urban, street traffic centric unit work, as well as find solutions for weaknesses in its real estate portfolio. The US is way over restaurant developed, and some inventory needs to be taken out, creatively. In short, restaurant chains need to look to Americas changing face for clues as to the future. John A. Gordon www.pacificmanagementconsultinggroup.com creative analysis and management solutions that work
Posted by John Gordon | December 05, 2008 10:15 am
Is the decline in casual dining tracked by fine dining? Does the consumption of alcoholic beverages track the decline in food consumption on a dollar basis in either or both categories? I am a newly minted bartender who has been told that the bar business is recession proof. Any stats to back up that claim?
Posted by Frederick Specht | December 01, 2008 01:31 pm© CFO Publishing Corporation 2009. All rights reserved.