I settled my first bet on the cafeteria manufactures years ago. I was a young army non-commissioned officer with a promising troops career for the taking. The only problem was, I wanted to return to the civilian world and build a career in the cafeteria industry.
Just three days before my discharge date my unit's Sergeant Major, who had been both a supporter and mentor, dropped by the dining facility. In a comical attempt to encourage me to re-enlist he said "Wallace, it's not too late to change your mind and save yourself. I hear that in the civilian world, the lines for soup in New York stretch all the way to California". I smiled and replied, "With all do respect Sergeant Major, I guess that means the civilian world is in need of some well trained foodservice people". I noticed him chuckle and shake his head as he walked away. A few months later I was in college pursuing my degree in Hotel & cafeteria Management.
Restaurant Industry
Since then the manufactures has grown in ways that few could have predicted. My introductory bet on the manufactures has paid off in spades. As a hospitality student, classically trained chef, restaurateur, and corporate executive, I have been privileged to sense the cafeteria manufactures from some perspectives. Personal bias aside, I can say with certainty that there are many good reasons to know that the cafeteria manufactures is still a great bet, in spite of our current economic storm. Here are seven reasons worth considering:
1. Needs Based - Restaurants serve two basic needs that are not going away any time soon. I am talking about the need to eat and the need to join together with others. When it comes to eating options, the manufactures has gone to great lengths to furnish convenience. You can walk up, sit down, take it out, drive-thru, and even drive up for curb-side services. When I trip surface of America, I am all the time amazed at how coarse it is for people to acquire in town centers and open air cafes in the evenings to connect. Here at home, operations like Starbucks and casual bars have become our primary "Third Place" for connecting away from home and work.
2. Lifestyle Driven - Generations "X" and "Y" have grown up eating meals ready away from home. For them it is as coarse and staggering as galvanic washers and dryers became for the former generation. For these Americans, I don't envision a huge or permanent return to cooking any more than I envision a return to scrubbing boards and clotheslines.
3. Decentralized - Unlike some industries that have suffered the most recently, the cafeteria manufactures has remained decentralized with resources and assets dispersed over the country. In the case of some of the biggest manufactures players, use of a franchise enterprise model, has also provided dispersing of capital investment and risk. What this means is that the manufactures is not branch to a huge implosion like the automobile or banking industries have experienced.
4. huge Scale - With more than a half trillion dollars in every year U.S. Sales and nearly a million restaurants nation wide, the cafeteria industry's size attracts support from a wide range of industries. From back office technology to cooking equipment, companies over the globe invest heavily in investigate and amelioration with the insight that there will be a market for their best innovations.
5. industrialized Infrastructure - Over the past few decades the cafeteria manufactures has amassed an enviable infrastructure. From state-of-the-art distribution and logistics to national online reservations and worker training systems the manufactures has moved closer to being "Plug-and-Play" for even the smallest operators.
6. Entrepreneurial - In spite of the industry's size, agreeing to national cafeteria association statistics, 7 out of 10 restaurants are singular unit operations. Fortunately, the barriers to entry into the manufactures have remained relatively low. As a succeed the manufactures enjoys constant bottom up innovation. The next trend is as likely to come from a small Cuban Diner in Miami as a heavily staffed test kitchen in Dallas.
7. An Affordable Luxury - Now once the economy begins to recover there will be some industries that will come back slower than others. One of the reasons restaurants in normal have not fallen as sharply as others sectors, is that, eating out is still an affordable luxury even in difficult times. Most consumers don't have to take out a loan to enjoy a meal out. For this same conjecture pinned-up query should drive strong growth as things recover.
For all the reasons listed the cafeteria manufactures is an exceptional source of opportunity for millions of Americans, who own, manage, and work in the manufactures over the nation. It stands and will continue to stand as an excellent example of sustainable salutary capitalism at its best. You can bet on it!
Seven Reasons the restaurant manufactures is Still a Great Bet
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