Costmenu Blog Post

2022 state of the restaurant industry report available

state of the restaurant industry

Rising labor and food costs are chipping away at the restaurant industry's hard-won gains and delaying recovery, according to the findings of a new 2022 report.

The following article was posted by: By Kate Rogers on CNBC Website
Titled: Restaurant recovery is hampered by higher costs, Covid surges as 2022 gets off to a 'pretty sober start'
Article Posted: March 6, 2022

The key take-aways from the article are as follows:

  • The National Restaurant Association released its 2022 State of the Restaurant Industry report
  • The foodservice industry is forecast to reach $898B in sales in 2022.
  • The foodservice industry workforce is projected to grow by 400,000 jobs, for total industry employment of 14.9M by the end of 2022.
  • More than half of restaurant operators said it would be a year or more before businesses conditions return to normal. Food, labor, and occupancy costs are expected to remain elevated, and continue to impact restaurant profit margins in 2022.
  • 96% of operators experienced supply delays or shortages of key food or beverage items in 2021 - and these challenges will likely continue in 2022.
  • 51% of adults say they aren't eating at restaurants as often as they would like, which is an increase of six percentage points from before the pandemic.
  • Some 90,000 restaurants have shuttered, some permanently, as a result of the pandemic, the association reported.

Costmenu can help restaurant owners address the concerns noted above as we provide the following solutions:

It's time to technical with food costs data.

Now more than ever, knowing and understanding food costs are vital.  It is critical to be able to track food cost and prepared item costs in order to make sure menu items are priced right.  The right pricing ensures the proper returns. See in real time increases and how they relate to historical prices.  Whether is it inflation, pandemics, food supply issues or more, monitoring food costs and adjusting menu prices is critical to survival.

About Costmenu: Costmenu is a food/menu/recipe costing software that offer many advantages over excel spreadsheets and other inventory management programs. Costmenu integrates a powerful dashboard, food, prepared, and menu item costing features, menu building features, custom qr code label makers, document storage, event/catering management features, data security, performance measurement, data analysis and comparisons, CRM, and generation of various reports. For more information on Costmenu, visit, email, or phone (949) 274-4814.