”Restaurant operators were also less optimistic about sales growth in their establishments. Twenty-nine percent of restaurant operators expect to have higher sales in six months (compared to the same period in the previous year), down from 39 percent who reported similarly last month and the lowest level on record. Twenty-eight percent of restaurant operators expect their sales volume in six months to be lower than it was during the same period in the previous year, up from 25 percent who reported similarly last month.
Restaurant operators are also scaling back on plans for capital spending. Fifty-one percent of restaurant operators plan to make a capital expenditure for equipment, expansion or remodeling in the next six months, down from 55 percent who reported similarly last month.
National Restaurant Association's Restaurant Performance Index
Values Greater than 100 = Expansion; Values Less than 100 = Contraction
Source: National Restaurant Association
It would seem that some of your brethren are battening down the hatches. It is much easier to differentiate yourself and provide an exceptional customer experience when your competition is focusing on survival.
Seize them because Opportunities Abound!