To be sure, the prospect of recession has been dampening restaurant operators’ optimism in recent months, but according to data from the National Restaurant Association, operators continue to plan for capital spending. The association’s latest Restaurant Performance Index found that 63 percent of operators said they plan to make a capital expenditure for equipment, expansion or remodeling in the next six months. While that was down from 71 percent who reported about making similar plans last month, it still represented the sixth-consecutive month with a result above 60 percent.
How has the rollercoaster ride of the past two years affected your connection to your guests – and as a result, your plans to invest in your restaurant in the coming months? A study from TD Bank found that restaurant operators’ top investment plans for 2022 involve technology to streamline mobile ordering, as well as real estate changes to better accommodate guest preferences for food ordering and collection.
In the bank’s study of 251 U.S. restaurant franchise owners and operators, more than half of respondents said they planned to invest in mobile ordering capabilities, nearly half in delivery services, 45 percent in technology including a new POS, digital signage or in-store tech, and 37 percent in alternative payment methods. Real estate footprints are getting an update too. While only 15 percent of respondents said they plan to reduce the number or size of their franchise locations, 55 percent plan to add more space for order pick-up, 45 percent plan to add drive-thru locations, and 43 percent plan to add an outdoor on-site dining space.
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