Industry Outlook
The Market
The Premium Steakhouse market is $5 billion of the $898 billion U.S. restaurant market. It is a niche segment within an enormous industry with plenty to look forward to.
The Community
Consumers support their local restaurants because they know these establishments support regional job growth and local agriculture and keep their dollars with their neighbors. Plus, a supported business returns the favor! Townspeople understand, now more than ever, that when they dine locally, they generate almost four times more economic benefits for their community.
The Food
- Demand for quality beef is at its highest level in 30 years.
- When consumers think of treating themselves to a premium dining experience, they “think meat.”
- Although the type and preparation of beef depends on a multitude of tastes and preferences, consumers still like beef as the main event.
- 38% of diners between the ages of 18 and 34 enjoy eating breakfast foods associated with lunch or dinner, fueling the popularity of brunch.
The Beverages
- The $19.6 billion craft beer market now takes up 27% of overall beer consumption in the U.S.
- Minimalistic craft cocktails with high-quality ingredients lead the bar market.
- Consumers choose the Mimosa and Bloody Mary to round out the top midmorning cocktails, followed by beer for the perfect brunch.
Now is the time to invest in your community and yourself with a Rib & Chop House franchise opportunity.