Restaurant Industry Outlook
Over the past few years, the restaurant industry has had its ups and downs. If you are a restaurant owner or work within the restaurant industry, you’ve seen this first hand. In the early months of 2007 the restaurant industry was hit hard, the RPI (Restaurant Performance Industry) reported that revenues were on a steady decline. This slippery downward slope continued until 2010 when reports showed the industry was growing once again. Thankfully, forecasts for 2013 suggest that restaurant operators should remain optimistic about the remainder of the year. According to IBIS world, a market research website, the yearly revenue for Single Location Full-Service Restaurants, is around 94 billion dollars and the industry employs over 2.5 million people.
All of this, should be good news to those who may be considering opening a new restaurant establishment or doing business within a segment of this industry.
Restaurant Loan in this economy
In the midst of a recession, short-terms loans for restaurants may be just what businesses need to recover from financial hardships that were brought on by previously weak economic conditions. Whether it be a loan that would assist you in opening your new restaurant, renovating your current restaurant, or just making a few adjustments that would help you deliver a more quality product or service, a restaurant loan can help. These, whether long term or short term, will increase your cash flows and assist you in getting your restaurant back into a good financial state.
Here to Help
At Liberty Capital Group, we offer loans for the restaurant industry and help restaurant owners get the business loans they need to keep their business running. Whether your restaurant needs a temporary small business loan to keep payroll running or a longer term loan for expanding your restaurant, we make the process fast and easy.