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Restaurant Results and Outlook Survey: Over 700 Independent Operators Share Their 2018 Results and Plans for 2019

PHOENIX, Ariz. -- RestaurantOwner.com has released the report of their 2019 Independent Restaurant Outlook Survey. This is the third consecutive Outlook Report which summarizes input gathered from over 700 independent restaurant owners and operators regarding their 2018 financial performance, as well as their optimism about 2019.

A copy of the report is available at: https://www.restaurantowner.com/IROS2019

Survey Results:
2018 was another profitable year for most independent restaurants. 81% of the 707 responding owners or operators reported a net income greater than 1% of sales in 2018, of which, 30% reported a net income greater than 10%. Of those that were not profitable, approximately 10% broke even, while 9% reported a net loss greater than 1% of sales.

Profitability continued to rise as many independent restaurants performed better in 2018 than the previous year. 64% of respondents reported that their net income in 2018 outpaced their 2017 performance. 17% reported no change and 22% reported a lower net income in 2018 compared to the previous year, indicating a continued upward trend in independent restaurant performance.

Optimism prevailed for a third year in a row. 62% of respondents indicated they are more optimistic about 2019 than they were about 2018. This trend continues from last year where 64% of respondents felt more optimistic about 2018 compared to 2017.

Most operators attributed their optimism for 2019 to improved business practices or systems (73%), and a quality guest experience (53%). Staffing challenges (53%) and unfavorable labor costs (52%) were the most cited causes for lacking optimism.

Again, the results of the survey confirm a strong and continuing interest of independent restaurant owners and operators to improve and grow their business. Many operators (84%) intend to pursue four or more goals in 2019. Over 60% of respondents reported they intend to focus on improving overall profitability, business practices, or their guest experience.

About RestaurantOwner.com:
Since 1998, RestaurantOwner.com has provided training and resources to independent restaurant owners and managers who want to improve their leadership and business management skills to create a higher quality guest experience, greater employee engagement and better financial results.

More information: https://www.restaurantowner.com/.

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Business, Free News Articles, Reports and Studies, Restaurant, Hotel and Hospitality

Profitability in 2017 and Optimism in 2018: Over 880 U.S. Independent Restaurant Owners Voice Their Thoughts on 2018

PHOENIX, Ariz. -- RestaurantOwner.com has released the report of their 2018 Independent Restaurant Outlook Survey. The report summarizes input gathered from over 880 independent restaurant owners and operators regarding their 2017 financial performance as well as their 2018 expectations.

A copy of the survey report is available at: https://www.restaurantowner.com/public/2018-Independent-Restaurant-Outlook-Survey-Report.cfm

Survey Results:
2017 was a profitable year for independent restaurants. 79% of the 882 responding independent restaurant owners or operators reported a net income greater than 1% of sales in 2017, of which, 31% reported a net income greater than 10%. Of those that were not profitable, approximately 10% broke even, while 11% reported a net loss greater than 1% of sales.

Profitability is on the rise as many independent restaurants performed better in 2017 than the previous year. 62% of respondents reported that their net income in 2017 outpaced their 2016 net income. Only 16% reported no change, and 22% reported lower net income in 2017 compared to 2016, indicating an overall upward trend in performance.

Independent restaurant operators are optimistic about 2018, and their optimism is trending upward. 65% of respondents indicated they are more optimistic about 2018 than they were about 2017. This is up from last year's survey results where only 56% of respondents felt more optimistic about 2017 compared to 2016.

For operators who are optimistic, over half (68%) attributed their optimism to improved business practices or systems. Over half (61%) of those who are not optimistic attributed it to challenging labors costs.

Independent restaurant operator goals reflect their optimism for 2018. Most (82%) identified four or more goals, indicating a desire to improve and grow in the new year. Over 50% of respondents reported they intend to focus on improving profitability, business practices, guest experience, or staff training, or that they are going to reduce their costs in 2018.

About RestaurantOwner.com:
Since 1998, RestaurantOwner.com has provided proven resources to independent restaurant owners and managers who want to improve their leadership and business management skills to create a more consistent, higher quality guest experience, greater employee engagement and better financial results.

More information: https://www.restaurantowner.com/.

*IMAGE FOR MEDIA: Send2Press.com/300dpi/18-0131s2p-iros2018-300dpi.jpg
*Image Caption: page three example from the comprehensive 2018 report.

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Business, Free News Articles, Reports and Studies, Restaurant, Hotel and Hospitality

Boom or Bust? Over 500 Independent Restaurant Owners Voice Their Thoughts on 2017

PHOENIX, Ariz. -- RestaurantOwner.com released the results of their 2017 Independent Restaurant Outlook Survey. The results summarize input gathered from over 500 independent restaurant owners regarding their restaurant outlook for 2017. The results indicate independent restaurant owners are optimistic about 2017, a theme supported by a majority who plan to grow and invest in their restaurant business in 2017.

A copy of the survey results is available at: http://www.restaurantowner.com/Outlook2017/.

Survey Results:
Independent restaurant owners are optimistic about 2017. 56% of respondents indicated they are more optimistic now than this time last year. 27% report they feel about the same, and only 17% indicate that they are less optimistic.

For those who report feeling optimistic, over half (51%) attribute it to improved business practices or systems. Interestingly, respondents tended to attribute their optimism to either internal factors (high quality staff, quality of the guest experience, labor costs, improved business practices or systems) or external factors (improving economic conditions, the positive impact of new government policies).

Of those who were not optimistic, over half (55%) attribute their outlook to higher labors costs. Responses tended to cluster into one of three concerns: staffing (high labor costs, staffing challenges), management (quality of our guest experience, lack of effective business practices or systems), or economic (stagnant or worsening economic conditions, negative impact of new governmental policies).

The goals and objectives independent restaurant owners are going to pursue in 2017 reflect optimism. Most (94%) indicate they have two or more goals for 2017. Plans to improve overall profitability, improve staffing, improve internal systems or business practices, or reduce costs were each endorsed by over half of respondents.

Independent restaurant owners' plans for 2017 reflect their optimism. 83% have plans that reflect investing in or growing their restaurant business. Just under half (48%) have plans to make physical improvements.

About RestaurantOwner.com:
With over 46,000 members since 1998, RestaurantOwner.com's mission is to change lives by educating and inspiring independent restaurant operators to create restaurant success stories. RestaurantOwner.com is committed to providing practical, proven insights, and resources to enable members to build a better restaurant, a better business, and most importantly, a better life.

More information: http://www.restaurantowner.com/.

*IMAGE for Media: Send2Press.com/mediaboom/17-0215s2p-ROsurvey-300dpi.jpg

This news story was published by the Neotrope® News Network - all rights reserved.