The traditional restaurant concept is set to continue to adapt in 2022 as rental and financial pressures grow and restaurant owners continue to pivot. Pop-up restaurants, food trucks and ghost kitchens will still be popular this year as the industry becomes more diverse than ever.
Financial pressures continue
According to Forbes we could expect to see less new restaurants on the scene in 2022 as the financial burden of the pandemic continues to take its toll. While some restaurants didn’t make it through the pandemic, others had to downsize or pivot to stay afloat. This year the industry will be battling to get back on its feet and we expect it to be a marathon rather than a sprint. With banks lending less money and not supporting new businesses it will be harder to finance the opening of new restaurants this year.
Opportunities for investors
An increased amount of empty premises will open new doors for investors seeking opportunity this year, whether that be for restaurants or other endeavours. Food halls and ghost kitchens have become popular throughout the pandemic and we expect to see these continue to fill empty commercial property in 2022. Ghost kitchens offer a lifeline to small businesses as they require minimal staffing and their location is of less importance therefore saving money on expensive rents and staff. According to statistics from Statstia.com the global ghost kitchen market is worth $43.1bn and is growing at a phenomenal rate.
Food trucks ‘keep on trucking’!
As the restaurant industry continues to get back on its feet, food trucks will be another trend we expect to grow in popularity this year. The sheer mobility and cost-effective nature of buying a vehicle versus permanent or expensive floor space coupled with low staff costs, allows restaurants an easy entry point to market and a good option to operate in different geographical locations. Food trucks are also great marketing opportunities for restaurants hoping to reach new audiences.
Restaurants move out of the city
A growing number of chefs are relocating from the city to the countryside. Rising rent costs in big cities is driving chefs to more rural locations where more people are relocating to work from home. This year we expect to see some restaurants opening premises in more rural areas to benefit from the troves of new customers that have decided to reconsider city life and move to the countryside.
Read the complete Trend Report where we investigate these trends as well:
- Restaurant technology – digital is on the rise
- Diners will choose restaurants based on their diets
- Immersive restaurant experiences spark senses beyond flavour
- Running a restaurant in 2022