Well hello everyone it's been a while since I've started a thread on some economic subject and this one is as good as any as it affects refer OTR drivers and food service truckers and warehouse workers.
Well because I used to be in the pizza shop and at one point in time almost owned my own pizza shop on Pleasant Valley Drive in Parma, Ohio I get PMQ which is Pizza Monthly and Quarterly magazine piped in. Well they blast my inbox with stuff and usually I ignore them, but they had an article about restaurant chains in a shake out.
They said the outlook for Chain Restaurants and IFS's (Independent Food Service Providers) (That's cool industry lingo) has been on the decline.
They said and this affects all you Sygma drivers out there, that Ruby Tuesday's is slated to shut down 100 restaurants, I know Bennegan's went under sometime ago.
Bob Evan's (GFS's largest customer on the chain side) closed down 27 restaurants in April and 20 last year. So there up to 47 restaurants shut down. I guess you figure you get into any organization as big as Bob Evan's or Ruby Tuesday's your going to have a couple places that don't pan out.
However the market is sighting that, it's not just a matter of places not panning out it's a matter of this darn obnoxious millennial generation which has been a huge problem there's a bunch of them, but there awful fickle one minute they say they want carbon free tofu and that's what they care about, but seem to never order the carbon free tofu.
Anyhow the report has said that to summarize there has been an out pace meaning there are more restaurants then there is a demand for.Plus millennial's like my self like to cook (I have a good example of that)
Anyhow they said grocery store food is fairly cheap in comparison to eating at restaurants so what's happening is people are opting to stay home and cook.
The article sighted that basically the landscape is over saturated with chain restaurants and independents have also had kind of a difficult time as well because of changing demographics so laws of supply and demand say there's to much supply and not enough demand restaurant chains actually out paced US population growth and now there's an over saturation in the market so a correction is now taking place.
Well because I used to be in the pizza shop and at one point in time almost owned my own pizza shop on Pleasant Valley Drive in Parma, Ohio I get PMQ which is Pizza Monthly and Quarterly magazine piped in. Well they blast my inbox with stuff and usually I ignore them, but they had an article about restaurant chains in a shake out.
They said the outlook for Chain Restaurants and IFS's (Independent Food Service Providers) (That's cool industry lingo) has been on the decline.
They said and this affects all you Sygma drivers out there, that Ruby Tuesday's is slated to shut down 100 restaurants, I know Bennegan's went under sometime ago.
Bob Evan's (GFS's largest customer on the chain side) closed down 27 restaurants in April and 20 last year. So there up to 47 restaurants shut down. I guess you figure you get into any organization as big as Bob Evan's or Ruby Tuesday's your going to have a couple places that don't pan out.
However the market is sighting that, it's not just a matter of places not panning out it's a matter of this darn obnoxious millennial generation which has been a huge problem there's a bunch of them, but there awful fickle one minute they say they want carbon free tofu and that's what they care about, but seem to never order the carbon free tofu.
Anyhow the report has said that to summarize there has been an out pace meaning there are more restaurants then there is a demand for.Plus millennial's like my self like to cook (I have a good example of that)
Anyhow they said grocery store food is fairly cheap in comparison to eating at restaurants so what's happening is people are opting to stay home and cook.
The article sighted that basically the landscape is over saturated with chain restaurants and independents have also had kind of a difficult time as well because of changing demographics so laws of supply and demand say there's to much supply and not enough demand restaurant chains actually out paced US population growth and now there's an over saturation in the market so a correction is now taking place.