State of the Restaurant Industry on Franchise Interviews

We are going to discuss the state of the restaurant industry in the new economy.  Restaurants suffered their biggest declines in a generation in 2009 (7 percent below 2007 levels), and sales increased just 0.1 percent in 2010 according to Technomic, a Chicago-based restaurant consultancy. While many sectors of the restaurant industry continue to struggle, the fast-casual segment is driving the industry's growth. In fact, leading fast casual dining chains have grown in sales during the last three years, and total visits grew by 17 percent according to RestaurantsNews.com.  Moreover, fast casual is expected to remain the fastest growing segment of the restaurant industry in 2011.  We are meeting with Paul Damico, President of Moe's Southwest Grill. Moe's, the fast-casual franchise known for fresh made-to-order burritos,quesadillas and more, posted 5.4 percent same-store sales growth in 2010 and is opening 65 units in 2011.