Artwork

Content provided by Savor.fm. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Savor.fm or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Player FM - Podcast App
Go offline with the Player FM app!

217. Restaurant Sales Rising - Sentiment Falling

33:46
 
Share
 

Manage episode 345803368 series 3039072
Content provided by Savor.fm. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Savor.fm or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Topical Smoothie is adding a double drive-thru restaurant that could help drive franchising growth for the brand. Existing franchisees are also behind 70% of the company’s total cafe openings this year, and have helped increase its year-to-date opening by 25% compared to the first three quarters of 2021. The chain also is one of the rising stars in consumer sentiment, growing to #28 on the Foodable Labs top 150 list.
In 2021, the company opened its 1,000th location and reported same-store sales growth of 22%. Last year, digital sales made up 76% of the company’s sales growth, after it introduced customizable online and mobile ordering.
Sales Rising
In the first three months of the pandemic, NYC taxable sales from bars and restaurants dropped over 50% (70% in Manhattan) since restaurants were not allowed to offer outdoor seating. This trend changed once Open Streets launched in June 2020, with a continued uptick in sales.
The uptick in sales compared to pre-pandemic levels reflect the growing impact of inflation and rising menu prices on company operations. Full-service meal prices were up 8.8% during the last 12 months compared to an increase of 7.1% for limited service, according to the Consumer Price Index.
  continue reading

262 episodes

Artwork
iconShare
 
Manage episode 345803368 series 3039072
Content provided by Savor.fm. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Savor.fm or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Topical Smoothie is adding a double drive-thru restaurant that could help drive franchising growth for the brand. Existing franchisees are also behind 70% of the company’s total cafe openings this year, and have helped increase its year-to-date opening by 25% compared to the first three quarters of 2021. The chain also is one of the rising stars in consumer sentiment, growing to #28 on the Foodable Labs top 150 list.
In 2021, the company opened its 1,000th location and reported same-store sales growth of 22%. Last year, digital sales made up 76% of the company’s sales growth, after it introduced customizable online and mobile ordering.
Sales Rising
In the first three months of the pandemic, NYC taxable sales from bars and restaurants dropped over 50% (70% in Manhattan) since restaurants were not allowed to offer outdoor seating. This trend changed once Open Streets launched in June 2020, with a continued uptick in sales.
The uptick in sales compared to pre-pandemic levels reflect the growing impact of inflation and rising menu prices on company operations. Full-service meal prices were up 8.8% during the last 12 months compared to an increase of 7.1% for limited service, according to the Consumer Price Index.
  continue reading

262 episodes

All episodes

×
 
Loading …

Welcome to Player FM!

Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.

 

Quick Reference Guide