May 1, 2012, Toronto – As the economy moves from recovery to expansion,
Canadians are expected to cautiously increase their spending at
restaurants and the Canadian foodservice industry should grow modestly
this year, according to the first annual Canadian Chain Restaurant
Industry Review.
May 1, 2012, Toronto – As the economy moves from recovery to expansion, Canadians are expected to cautiously increase their spending at restaurants and the Canadian foodservice industry should grow modestly this year, according to the first annual Canadian Chain Restaurant Industry Review, a research report commissioned by GE Capital and compiled by fsSTRATEGY and NPD Group Canada.
Some of the research findings:
- Canadian foodservice industry sales are expected to increase by 3.1 per cent to CAD$65.4 billion in 2012.
- Visits to Canada's commercial foodservice industry remained relatively flat last year, growing just 1 per cent over the prior year.
- Alberta was the fastest-growing market at 7.8 per cent.
- British Columbia was the only province that experienced foodservice revenue declines.
The complete Canadian Chain Restaurant Industry Review will be provided to attendees of GE Capital's third annual Canadian Restaurant Investment Summit, which will be held May 30 and 31 at the Hilton Toronto Hotel. To review a detailed listing of program sessions or to register, please go to www.restaurantinvest.ca.
"For the first time, we're compiling a comprehensive analysis and factual overview of the state of chain foodservice in Canada," said Ed Khediguian, GE Capital's senior vice-president of Franchise Finance. "These findings have implications for job growth, construction activity and other factors that will impact the economic health of Canada this year and for several years to come. They also shed light on consumer spending habits and trends from province to province."
The report includes insights from the C-suite executives of leading Canadian chains on important issues, such as:
- The greatest opportunities and threats in the foodservice industry,
- Restaurant industry merger and acquisition opportunities,
- Expected changes in sales as well as labour and food costs, among other operating and occupancy costs, and
- The outlook on restaurant industry capital expenditures.
"In addition to presentations on important topics like growth and expansion strategies, and a behind-the-scenes look at some of the largest-ever restaurant acquisitions, industry experts will share their expertise and insights on a number of other issues with all attendees," Khediguian said.
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