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Eighties and nineties nostalgia was dealt a gut punch earlier this month when nearly 100 Red Lobster locations abruptly went dark amid the company’s Chapter 11 bankruptcy filing. Restaurants that took the U.S. by storm 30 to 40 years ago are beginning to drop like flies after a whirlwind past few years that forced rapid innovation in response to evolving consumer demands. At least 12 of the nation’s biggest casual chains plan to scale back their portfolios this year, and while reasons behind the reductions vary, the potential real estate impacts grow more layered as closures bloom. The turnover of space is expected to create opportunities in retail markets where rapid population growth has led to historically low levels of vacancy. But in less desirable markets, the empty carcasses of once-beloved chain restaurants will be harder to reckon with. Around 300 Applebee’s locations have closed since 2017, with up to 35 more planned for this year. TGI Friday’s announced the closure of 36 underperforming restaurants in January, and while rumors of Chilis’ demise have proven untrue, the chain did throw in the towel on 16 struggling branches in 2023.There are 311 casual restaurant locations on the market nationwide.People aren’t looking for legacy brands. They are looking for smaller, independent, newer concepts to create excitement. The good news from a commercial real estate perspective is there is an acute shortage of second-generation restaurant spaces. There will be a number of tenants eager to backfill the spaces. #cre #commercialrealestate #Commercialrealestateadviser #commercialproperty #retailrealestate

David Gonzalez ABC7 Los Angeles reports on what's happening with restaurant technology in Orange County. "VILLA PARK, Calif. (KABC) -- Rockwell's Bakery in Villa Park has been in business for more than 40 years. "We really love that people can come here and feel like they're just at home," said Chanler Skeffington, Rockwell's director of operations. The restaurant, bar and bakery has built a loyal customer base over the years. "Ninety-five percent of our customers are going to be regular based. We see the same people every day," Skeffington said. Rockwell's takes pride in making their guests feel welcomed. Skeffington said the servers have built relationships with many of the customers. We do have iPads right now that we will use on a Friday night or Saturday night when our whole entire patio is packed," Skeffington said. A new survey by Popmenu shows 48% of restaurants plan to automate more on-premise functions this year including using artificial intelligence to answer phones or take online orders. Over time, restaurants like Rockwell's have had to shift how they do business, incorporating technology like computers to run more efficiently. Ultimately what you have to do is figure out technologies that automate some of that interaction so that there's less things to manage," said Tony Roy, a restaurant industry expert. He added, "For a restaurant, that means your servers can handle more tables. And for your consumers, it means that we have a much smoother transfer of information which cuts down on errors." As businesses are hit with staffing shortages and the cost of labor going up as well, Roy predicts restaurants will become more dependent on technology. While Rockwell's leans into the changes, Skeffington said they will never get rid of the human element servers bring. "I really do think that we would lose our special touch here," she said. "Everybody knows everybody here. It's super local, super regular oriented." #POS #technologhy #Restaurants #Franchise #Franchising #FranchiseChat Chainformation Franchise Pipeline Franchise Development Outsource Anders Hall Ned Lyerly Joe Caruso Michael (Mike) Webster PhD Anthony (Tony) S. Roy Savannah Greene Chanler Skeffington, MBA https://lnkd.in/en92Ckyb

Texas Roadhouse is sizzling with success, bucking industry trends and achieving a standout 9.3% increase in same-store sales, thanks to savvy operational upgrades and a keen focus on everyday value. Texas Roadhouse posted a notable 9.3% increase in same-store sales for Q2 2024, driven by a 4.5% rise in traffic and a 4.8% increase in average check size. This growth continues into Q3 with an 8% rise. The chain's success is attributed to enhanced back-of-house technology, including digital order management and mobile access for employees, which improves efficiency and staff satisfaction. Lower commodity costs and a well-staffed workforce further bolster its strong position in a challenging market. Read More Here: https://lnkd.in/egg_mkjc Restaurant Dive Julie Littman Branded Hospitality Ventures Hospitality Hangout Podcast #hospitality #food #restaurants #marketing Sammy Vela Wayne Jones Raymond Day Michael Crawford Gina Tobin Brad Scheiner Hernan Mujica Shane Broadway Kathleen (Kathy) Widmer

Del Taco is an American Mexican inspired restaurant with locations predominantly in the Southern and Western parts of the country. Del Taco has approximately 600 locations in 16 states. The restaurants are situated in high traffic areas, which makes them highly sought-after properties. The NNN lease term is usually 20 years with attractive rental escalations of 10% every five years. Del Taco first grew popular in California before expanding to its current multistate footprint. Now, the Mexican quick-service restaurant (QSR) brand is executing a plan for growth that goes beyond the QSR market. Not only did the chain recently hold a double grand opening for locations inside TA Express sites in Arizona, but it's also making long-term plans for the convenience channel. The company currently has 12 Del Taco units in operation inside c-stores and travel plazas, with four more in development. For buyers and sellers of retail real estate assets, knowing which companies are in a growth phase and how their real estate requirements evolve is a crucial step to wise investing. Check out NNN Trends, where investors can access continuously updated national cap rates, comparable sales, and consumer traffic for dozens of retail net lease tenants. https://bit.ly/3VYH9IY #CRE #QSR #fastfood #creretail #commercialrealestate #netlease

Yo Quiero Taco Bell! 🌮 Remember the Taco Bell Chihuahua from the 90s? Two tacos for 99 cents – what a deal! Times have changed, and so has Diversified Restaurant Group, a Taco Bell Franchisee. Here are some key takeaways on how they're adapting to meet evolving customer needs 👇 🌮 Consumer demand is shifting rapidly. Digital accounted for only 3 to 4 percent of business 5 years ago, now it's 30 to 35 percent and growing. 🌮 Pre-COVID, 60 percent of sales were through drive-thru and 40 percent in the dining room. Now, less than 10 percent dine in. 🌮 Geographical differences matter. In California, labor costs are now $20 an hour, prompting DRG to explore automation for cost efficiency. 🌮 Technology evolves quickly. COO Todd Kelly emphasizes the need to stay ahead: "What's new today won't be new in six months." 🌮 Adapting to change, 90 percent of customers use the drive-thru, leading DRG to shift to smaller buildings, reducing costs significantly. How are you adjusting to changing consumer preferences? Let's taco 'bout it🚗 #TacoBell #ConsumerPreferences #Adaptation #Digital #CIO #CEO #CFO https://lnkd.in/e3wu7z4C

As a food entrepreneur and closet marketeer, I see challenges with this partnership: 1. Krispy Kreme donuts are best served warm. Their red neon light created a cult like following. But when they over expanded years ago into gas stations and c stores the light wasn’t shining anymore. At that point they became just another donut and cheapend their brand. 2. It will be a gargantuan, if not impossible task to service all 13,000+ McDonald's restaurants with a “fresh” donut. I watch it everyday here in the Northeast as they try to supply local supermarkets with fresh donuts. Nobody is thinking about donuts in the afternoon or at dinner time - the window is 7am to 9am. This means a “thaw and sell” donut will have to be developed for this partnership to even have a chance of survival. But again, it goes against what KK is known for. 3. McDonald's is arguably one of the most recognized brands in the world. However, they’ve come under fire recently for their pricing and customer service. I’d double down my resources right there. Focus on making the customers feel special when they walk in the door and give them a meal that provides value - as they created the “value meal” concept. The introduction of donuts might grow their TikTok followers, but it won’t add to the bottom line. Save that dough. PIE THAT BRINGS PEOPLE TOGETHER®️ #qsr #cpg #fastfood #dessert #marketing #mrtods #entrepreneurship

🏥 𝑩𝒖𝒓𝒈𝒆𝒓 𝑲𝒊𝒏𝒈 𝒔𝒆𝒕 𝒕𝒐 𝒊𝒏𝒗𝒆𝒔𝒕 𝒂𝒏𝒐𝒕𝒉𝒆𝒓 $300 𝑴 𝒐𝒏 𝒈𝒓𝒂𝒏𝒅 𝒐𝒖𝒕𝒍𝒆𝒕 𝒓𝒆𝒎𝒐𝒅𝒆𝒍𝒊𝒏𝒈 𝒑𝒓𝒐𝒋𝒆𝒄𝒕☀ In April 2024, As part of a larger turnaround attempt, Burger King plans to renovate roughly 1,100 of its U.S. stores with an additional 💸$300 million investment. Burger King's return plan was initiated a year and a half ago by its owner, Restaurant Brands International, with $250 million going toward 🍽restaurant renovations, equipment upgrades, and #technological upgrades. An extra $150 million was allocated for advertising and the company's #mobile app📱. To expedite the refurbishment process, the parent firm paid $1 billion💰 in January to acquire #CarrolsRestaurant Group, the largest Burger King🍔 #franchisee in the United States. The corporation projects that modernizing 600 Carrols outlets will cost an extra $500 million. Restaurant Brands plans to invest a total of about $2.2 billion, including this most recent investment, to resurrect the chain's U.S. business. By 2028, the firm hopes that 85–90% of its nearly 7,000 restaurants in the United States would have the same contemporary style. 𝑩𝒓𝒐𝒘𝒔𝒆 𝒂𝒕 𝒐𝒖𝒓 𝑳𝒊𝒏𝒌𝒆𝒅 𝑹𝒆𝒑𝒐𝒓𝒕 👉:https://bit.ly/4aYZsCW #BurgerKing  #RestaurantBrandsInternational #FastFood #Restaurant 

sweetgreen journey towards going public in November 2021 at a valuation of $6 billion was fueled by its rapid expansion and strong brand awareness despite limited unit count, with just 150 units by year-end 2021. However, profitability remained a challenge. Through strategic measures like focusing on quality over quantity in new sites and introducing innovations like the automated "Infinite Kitchen" and "sweetlane" drive-thru, Sweetgreen aimed to overcome this hurdle. In Q1 of the following year, Sweetgreen reported impressive financial results, including revenue growth and improved restaurant-level margins. The company's expansion into new markets and the success of initiatives like the Infinite Kitchen further bolstered its growth trajectory, paving the way for continued expansion and innovation in the coming years. As fast-casual spots are looking further into automation to bolster sales and expansion Branded Hospitality Ventures is proud to have portfolio companies and friends at the forefront of this industry trend Ripples QSR Automations Ecolab Read More Here: https://bit.ly/3WOvbm3 #Restaurants #Hospitality #Technology #Business #Innovation #AI #investing #SocialMedia Nathaniel Ru Jonathan Neman Nicolas Jammet Andy Cooper Doug Baker Larry Berger Krista Preble Ashley Sheppard Angela Leet

Texas Roadhouse is sizzling with success, bucking industry trends and achieving a standout 9.3% increase in same-store sales, thanks to savvy operational upgrades and a keen focus on everyday value. Texas Roadhouse posted a notable 9.3% increase in same-store sales for Q2 2024, driven by a 4.5% rise in traffic and a 4.8% increase in average check size. This growth continues into Q3 with an 8% rise. The chain's success is attributed to enhanced back-of-house technology, including digital order management and mobile access for employees, which improves efficiency and staff satisfaction. Lower commodity costs and a well-staffed workforce further bolster its strong position in a challenging market. Read More Here: https://lnkd.in/eh9CeFni Restaurant Dive Julie Littman Branded Hospitality Ventures Hospitality Hangout Podcast #hospitality #food #restaurants #marketing Sammy Vela Wayne Jones Raymond Day Michael Crawford Gina Tobin Brad Scheiner Hernan Mujica Shane Broadway Kathleen (Kathy) Widmer

🚀 Exciting news from Wonder! The company has achieved remarkable milestones, boasting unit-level profitability and operational efficiency. By consolidating operations and expanding partnerships, Wonder is setting new standards in the #restaurantindustry. Let's delve into the details of their impressive journey! #Profitability: Achieved unit-level profitability with streamlined operations and a 30-minute average order-to-eat time. #Expansion: Expanded operations to serve all 30 restaurant brand concepts from one location, enhancing efficiency and customer satisfaction. #AcquisitionandGrowth: Successfully acquired Blue Apron and launched its first Walmart-based location in Pennsylvania, signaling strategic growth and market penetration. #InnovationandPartnerships: Introduced over 350 new menu items and formed partnerships with renowned chefs like Marcus Samuelsson and José Andrés to drive culinary innovation and customer engagement. #TechnologyOptimization: Leveraged technology to optimize unit-level economics, focusing on reducing food waste, improving kitchen throughput, and enhancing the delivery network for seamless service. #restaurant #restauranttrends #facteus #consumerspending #consumerbehavior #QSR #consumeranalytics #foodservice