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The United States restaurant industry was projected at $899 billion in sales for 2020 by the National Restaurant Association, the main trade association for the industry in the United States. [1] [2] An estimated 99% of companies in the industry are family-owned small businesses with fewer than 50 employees. [3]
The restaurant industry in the United States is large and quickly growing, with 10 million workers. 1 in every 12 U.S. residents work in the business, and during the 2008 recession, the industry was an anomaly in that it continued to grow. Restaurants are known for having low wages, which they claim are due to thin profit margins of 4-5%.
In 2015 the United Kingdom hospitality industry employed around 2.9m people – around 9% of the UK workforce. [12] By employment, it is the UK's fourth-largest industry. The most jobs in the industry are found in London (around 500,000) and South East England (around 400,000); 18% of workers in the UK industry are in London. There are around 1 ...
Nearly 3.5 million parents work in the restaurant industry and more than 1 million of those are single mothers, 40% of whom live in poverty, according to a 2016 report by the National Women’s ...
6428W Digital Art / ShutterstockThe restaurant business is a notoriously difficult one. Amid inflationary challenges and shifting consumer preferences, many restaurants have struggled to stay afloat.
The restaurant industry was hit first and worst when COVID-19 closed the economy. According to the National Restaurant Association, businesses laid off or furloughed 8 million hospitality workers ...
The National Restaurant Association is a restaurant industry business association in the United States, representing more than 380,000 restaurant locations. [4] It also operates the National Restaurant Association Educational Foundation. [4] The association was founded in 1919 and is headquartered in Washington, D.C. [4]
The restaurant industry is a fiercely competitive landscape, and the challenges facing food business have become even more daunting since the pandemic struck nearly five years ago.