The top restaurant trends of 2014
At Restaurant Property, we understand that the UK restaurant and leisure industry is dynamic and chaotic. If you’re looking to buy or sell a restaurant, it’s therefore vital that you are mindful of the trends that are picking up steam across London. In this article, we summarise what our experts see as being the most popular restaurant trends, enabling you to capitalise on them while they’re still relevant
1. Fast casual
2014 saw the dominance of the fast casual category that offers its consumers high quality fast food. A great example of this is Five Guys, which sells a traditional hamburger and fries, but at a premium quality and price.
The bun of a Five Guys burger, for example, is 10 times more expensive to produce than a McDonalds bun, and prices are adjusted accordingly. All this proves that the new fast casual market in London is willing to pay that little bit extra for a premium service. Indeed, the Covent Garden Five Guys is the busiest in the world.
2. Gourmet fast food
Since the recession, Restaurateurs have been adopting a single item menu that has facilitated gourmet fast food options. 2014 has seen the popularity of lobster explode, with three restaurants specialising in the traditionally luxury shellfish opening within a mile of one another.
Quality and value are central to the proposition, with a single main ingredient stretched to its maximum potential. Ultimately, this trend is defined by restaurant owners’ and chefs’ imaginations.
3. Ethnic food
The popularity of restaurants like Piebury Corner – offering a quintessentially British pie – and Bi Bim Bap – providing traditional Korean dishes with a contemporary presentation – shows that there’s a healthy appetite for ethnic food in London.
This chimes with Mintel’s new discovery that 82% of people would consider trying new flavours. Whether it’s the perfect rustic pasta or well-spiced Balti, 2014 saw customers looking for a taste of the authentic.
Food is the new music, and the restaurant has become the new music venue. According to the New York Times, the restaurant industry has experienced a “gastronomic youthquare”. Diners take pictures of their food, they want it with a premium, local ale or larger, and want to collect tastes as they would stamps. Wrapped around this, they want the entire experience to be premium, and they’re willing to pay. The perfect example of this is Byron Burger, offering what has been coined “premiumised informality”.
2014 has been a dynamic year full of opportunity for prospective restaurant buyers and sellers. Our agents are constantly assessing the restaurant and leisure property market, and we believe that the four trends above represent those most likely to reward you with financial reward if you adopt them. 2015 is likely to see these trends continue to proliferate.
If you would like to know how you can best optimise these trends for maximum selling potential, or how to attract highest possible foot-flow with a well-calculated restaurant purchase, contact us today on 020 7935 2222.< Back