There are now over 45,000 cafes, restaurants and catering businesses operating throughout Australia. Since there were only 36,500 of these businesses in 2013, it shows that the sector has grown by almost 25 per cent over the past five years.
If you look closer at this data, you’ll see that the growth in the number of cafes and restaurants is pretty evenly dispersed across the country, with all states and territories recording growth over the past financial year.
While cafes and restaurants have increased their national footprint, the number of caterers hasn’t moved all that much from 2016. Interestingly enough, some states and territories actually went backwards in their overall number of catering companies. While having more businesses on the market is an indication of higher consumer demand, it means there’s a smaller slice of the profits to go around.
As we all know, opening a new cafe or restaurant can be risky if you don’t get the fundamental aspects of running a business right. There’s fierce competition for customer dollars at every corner and cafes and restaurants need to stay at the top of their game if they’re to survive for the long haul.
Mark Scanlan, President
Restaurant & Catering Australia