Top Challenges For Hospitality Businesses 2010 & 2011
In a snapshot... This snapshot survey asked Restaurant Association members to list their top three challenges in 2010 and what they expected the top challenges to be in 2011. Building and Maintaining Sales Volume is the no. 1 challenge being faced by the industry in 2010, with 52% of the survey participants listing this as the top challenge. The big overheads for business also feature near the top of the list of top challenges: Labour costs (41%), Food costs (36%) and Operating costs (34%). In 2011 it is expected that little will change with Building and Maintaining Sales Volume still the biggest challenge (51%), while Operating costs (39%), Labour costs (36%) and Food costs (35%) also remain at the top, simply reordering themselves slightly.
The survey also rated Business Confidence. This indicated that most recipients believe that business conditions will remain the same in 2011 (45%). This was a fairly even split with the optimists believing that conditions will improve (43%) and only 12% believe conditions will have deteriorated.