SPECIAL:


THE GROWTH EDITION


and play the long game," he told investors. Of course, how a foodservice operator


grows largely depends on the individual business, the nature of the restaurant and the founder’s ambition. While many fast-food organizations today see huge opportunities in Asia, others choose diff erent paths to growth, closer to home. Each business will need to identify the ideal growth, says Jay Bandy FCSI, president of Goliath Consulting in the US. “Market conditions, supply chain, staff availability, cost of restaurant development and the economy all factor into a brand's growth strategy,” he explains.


Others embrace the franchising model; and that has been a successful path – according to a report by Rabobank titled Franchising the American Dream, franchises increased their market share in the foodservice industry over the decade from 2012 when it stood at 19% to 28.4% in 2021. By comparison, non-franchised restaurants have decreased their market share by 11% over that same period. “The state of franchising is incredibly


strong,” said Tom Bailey, senior analyst, consumer foods with Rabobank and the author of the report, but he added that part of the reason large franchisors have seen such growth is the global growth element.


Diversify or die


For independent restaurants, staying afl oat is a challenge in this post-pandemic world, diners’ shrinking spending power combined with higher food prices means diversifi cation is crucial. For some, this has meant opening more casual and accessible operations, to attract higher footfall and increase revenue. An example is Spanish chef Dabiz Muñoz, the chef behind three-Michelin-starred DiverXO in Madrid. Dining at his fl agship restaurant will set you back €300 per person before drinks, but Muñoz opened StreetXO several years back as a more casual and accessible concept serving similar


58


restaurant by cooking it at home


together meal kits, allowing diners to eat food from the


Chefs put


avant-garde cuisine to a larger crowd. “We took our one-of-a-kind cuisine and made it available to more people,” the chef said. It’s just one example of a genuinely global trend – in the US, David Chang, of Momofuku fame, opened his take on a fried chicken joint FuKu.


Of course, when speaking of growth in the foodservice sector in 2022 it would be remiss not to mention the Covid-19 pandemic that stopped everyone in their tracks for two years and changed so many things about the way we eat and interact with each other and hospitality. Before February 2020, restaurants had faced few threats that pushed them to diversify to the same degree.


In the diversifi cation drive, the pandemic also brought us meal kits from high-end restaurants – while lockdowns kept dining rooms shut the chefs got to work putting together meal kits, allowing diners to eat the food from the restaurant by cooking it themselves at home. A great success for most and it is no surprise that as a pre-emptive strike against any potential future pandemics, this means of achieving growth is part of what we now call “the new normal”. Should the sector be hit by another pandemic, operators will have the tools to stay afl oat.


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