Where Does Foodservice Go From Here?

By Paul G. W. Fetscher, CCIM CRX CLS

As you know, there have been many changes to the restaurant industry over the past few years. In 2015, the wage for a tipped employee was $5 per hour. That has now been raised to $12.75 and headed towards $15 per hour, a 200% increase. At the same time, meat prices are up over 20% in the last year. Insurance rates are up 35% - 40%. While the costs of doing business have raised substantially, the actual Cost of Living 2010 – 2020 has only gone up 1.67% compounded. Needless to say, the ability to pass the costs on to the consumer have not kept pace with the rise in operating costs. Read More