It’s good news for restaurants - but not so good for pubs

By Jeff Gitter

Well run restaurants continue to flourish at the expense of the pub trade. The UK restaurant sector turnover has risen 39% since 2010 (according to the Financial Times) with the sector now worth a staggering £21.6bn whilst the number of UK pubs continues to decline.

  • More of us are choosing to ‘eat out’ rather than going ‘for a drink’.
  • We may have ‘traded down’ during the recession but haven’t stopped eating out.
  • This has fuelled a boom in ‘fast casual’ chains which combine fast food with sit-down dining and provide hugely increased choice for the consumer.
  • Restaurants are likely to continue to be able to make hay whilst the deflation sun shines and consumers feel confident to spend more freely (FT, 19 May 2015).

If you have the right idea, relevant expertise and want to work really hard, it seems there’s no better time to open a restaurant. For expert professional advice, please email me or call on 020 7490 7766. I have a wealth of experience in advising clients across the restaurant trade.

Click here to learn more about our services as restaurant accountants.

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