This is a detailed report on the restaurant sector that includes single location, independent or family-operated restaurants that are primarily engaged in providing food services to patrons who order and are served while seated (i.e. waiter/waitress service) and pay after eating. These establishments may provide food services to guests in combination with selling alcoholic and other beverages.

SUMMARY: In 2010, IBISWorld expects the industry to generate revenue of $89.1 billion, which represents the first positive growth in four years, at 3.2%. In the last five years, real industry revenue fell at an average annual rate of 1.3%. As industry revenue and profit rises in 2010, the consolidation trend will halt and the number of industry locations will rise by 1.0% to 199,401. Employment will also increase by 1.1% to 2.5 million, as owners expand their hours in the business. Wages will rise about 1.4% in real terms to $31.6 billion; however, the average annual wage paid per employee will still be quite low at $12,640. In the five years to 2015, real industry revenue is expected to grow at an average annual rate of 2.8%.

Establishments generate revenue of about $447,000 each and employ 12 people; however, some relatively large operators have far higher annual revenues. According to a survey of the top 100 independent restaurants by Restaurants & Institutions magazine, operators with five or less establishments that are not part of a chain pulled in annual revenue ranging from $11 million to $68 million. Most of these establishments are located in densely populated or tourist cities such as New York, Chicago and Las Vegas.

Purchase the full report.