Burgers Piling High in Food Industry - Tork Better Business Center

Lately it seems that you can?t walk down the street without running into a new burger joint. No wonder ? the burger segment is cooking.?

Consumer demand for burgers has led to a wave of burger joints opening across the country. Growing chains such as Five Guys and Smashburger are marking their territories and competing against popular fast-food chains such as McDonald?s and Wendy?s with their ?bigger? and ?better? concepts.?

According to research conducted by Technomic, the fast-casual burger chain segment grew sales by 20.8 percent last year, while all limited-service burger chains grew 3.7 percent. Five Guys, a fast-casual dining restaurant based in Virginia, was reported by Technomic to be the fastest growing restaurant chain in the country with currently more than 1,000 stores opened in the U.S. and Canada and an approximate 1,500 on the way. The company has been reported to have grown 792 percent since 2006 with $951 million in sales in 2011.?

The sudden desire for burgers stems from recent improvements in U.S. economic conditions. Americans are looking to spend again and eating out at restaurants has become a popular option. The National Restaurant Association?s 2012?Industry Forecast?predicts positive growth in the restaurant industry, with sales projected to reach a record high of $631.8 billion.?????????????????????????????????????????????????????????????????

The boom in the burger segment has also impacted existing restaurant owners and how they run their businesses. Catering to consumer demands can be effective if done properly and many full-service chains have jumped on the bandwagon by adding gourmet burgers to their menus. ?Even hamburger giant McDonald?s is experimenting with a new burger, as it has started to test lamb burgers in select areas.?

Noteworthy findings in the Technomic report showed that:

• Quick-service burger chains have raised the quality of their burger offerings.
• 74 percent of consumers rank quality and taste as the most important component of the burger.
• Cheeseburgers are the top hamburger type on limited service restaurant burger-chain menus.
• Customization is key. Several fast-casual brands offer a build-your-own-burger option, where customers can choose from a variety of proteins, breads, cheeses, toppings and sauces.

America?s favorite food still reigns as number one and evidently higher quality can result in better business. By understanding how the segment and opportunities available, restaurant owners can have a higher advantage when determining how to attract customers and grow business.

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Source: http://betterbusiness.torkusa.com/burgers-piling-high-in-food-industry-tork-bbc/?utm_source=rss&utm_medium=rss&utm_campaign=burgers-piling-high-in-food-industry-tork-bbc

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