Restaurants big and small entered 2023 hungry for growth. Diner demand is holding steady and franchisees continue to seek out business opportunities with healthy chains, creating space for restaurants with enough cash to expand their footprints.
Franchising is top of mind for restaurant brands of all categories, with many brands seeking multi-unit deals with experienced operators to enter new markets. Single-unit players still have a shot at buying franchises as well, experts said, but will need to be wary of high costs of ingredients, required technology, construction and labor.
Restaurant confidence in some market segments is waning, however. Ghost kitchens, which accrued significant funding in 2020and 2021 as operators clamored for off-premise-only business ventures, may only benefit restaurants with deep pockets and strong brand awareness,
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