Restaurant Industry’s Outlook Improving!

As Restaurant Management Recruiters, we will often see hiring trends before it makes news.  In the last 6 months we have been contacted by many new resstaurant and contract food companies wanting us to find managers for their locations.  This is great news on many fronts. First it’s great because it means that companies are opening new locations and need to hire their management team.  It’s great news because the demographics shows that people are eating out or the restaurant chain would not be opening new locations. And it’s great news that companies have the budget and see the need for using a recruiting agency.  Last week we received job openings for almost 350 management positions – in a single week!

Below is an article published in Nations Restaurant News which validates the same trends we at Patrice  & Associates are seeing in the hospitality industry.

October brought more signs of stability, and possibly recovery, in the restaurant industry as commodity prices eased slightly, same-store sales improved and consumer confidence climbed, an analyst said Monday.
 
Brad Ludington, an analyst with KeyBanc Capital Markets Inc., wrote in his Monthly Restaurant Roundup that various data points from last month indicate that the industry outlook is improving. Ludington pointed in particular to companies with “differentiated brands” that continue to “execute at a higher level than their peers, despite other macro pressures,” such as The Cheesecake Factory Inc., Ruby Tuesday Inc., Darden Restaurants Inc., CEC Entertainment Inc., and Papa John’s International Inc.

Ludington highlighted three key areas with positive signs for the industry:

Commodity prices remain high, but fell slightly in October.

KeyBanc’s Restaurant Commodity Index fell to an average level of 144 in October, down 2.6 percent from September’s high for the year of 147, Ludington said. The October result, however, is 24 percent above the index level of 116 the firm reported for the same month last year.

While corn prices were up in October this year, prices declined for chicken breast, potatoes, eggs and some seafood and produce. Wheat prices also eased somewhat despite ongoing volatility, Ludington said. Dairy prices were relatively flat, but butter prices declined 2 percent in the month, the first monthly decrease since February.

Industry indicators point to improvement.

The National Restaurant Association’s Restaurant Performance Index reached 100.3 in September after four months of languishing below the 100-point benchmark. The Current Situation Index improved in August, with respondents reporting sequentially improving same-store sales, customer traffic and hiring, though capital expenditure activity dropped slightly. The NRA’s Expectations Index stayed above 100 for the 11th consecutive month, and operators said they expect overall same-store sales levels to be higher in the next six months.

In addition, the Knapp-Track survey of same-store sales also rose, with a 1.2-percent uptick in September, the best results the index has seen since mid-2007. Traffic rose 1.4 percent — the best traffic results since December 2006, Ludington noted.

September’s Knapp-Track results also marked the third consecutive month of positive same-store sales after 25 months of declines.

“We continue to believe that performance remains stratified between the best and worst performing chains, but we believe the continued positive index results indicate strength in the sector for high-performing chains,” Ludington wrote.

Slow growth in consumer confidence and private payrolls.

Unemployment stayed at 9.6 percent nationally in September with private sector jobs increasing for the ninth straight month, the report said. Consumer confidence, new home sales and housing starts moved in a positive direction, although still low for the year.

“While economic numbers released in the month of October do not exactly inspire confidence in a rapid recovery, we continue to believe data is moving in the right direction, although slowly,” wrote Ludington.

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Chris Bousquet helped me every step of the way! 

He’s been very supportive and understanding.
I was contacted via LinkedIn by Chris, He took the time to understand my skills and experience. He was also very honest about the job. He is a true professional, and is dedicated to helping his clients find the perfect job!

Now I’m about to start a new journey and thanks to Chris for all his hard work.

Many Thanks,

Christine

It was a delight to work with Corina!

From the first phone call through the final acceptance offer Corina was a delight to work with.
She offered helpful tips along the way and made the process professional and very easy.
It was a delight to work with Corina!
Thank you!
Mary

Helen Nourai's expertise and professionalism was impeccable!

I would love to share my sincere appreciation for the opportunity to work with, the one and only, Ms. Helen Nourai. During our discussion, I found our conversation to be insightful and impactful. I literally was taking notes as she and I were talking. She was thorough in her assessment of me and my endeavors, Helen Nourai's expertise and professionalism was impeccable; it was clear to me that she was a veteran at the services she provided.
Although Helen was a recruiter; I felt that she ALSO was an advocate for me, as well. It was truly a pleasure and a vibe to have an encounter with her. Words cannot express my gratitude for meeting her. I truly believe that she was God sent to me. Everything I expressed to her that I was looking for, she delivered, and more. I firmly believe that I have this opportunity because of her diligence.
Thank You,
Destiny W.

I am really happy with all of Alex Pomponio's assistance during my process

I admire her hard work on every step and each detail. She is an incredible recruiter and with her guidance and follow up after the interview, it made me feel so secure! Working with Alex has been an awesome opportunity!!!

I am really happy with the end results, getting hired!

Andrés M.

Hez Butler was truly amazing and wonderful in assisting me with my job search

I cannot speak highly enough about the outstanding service provided by Hez Butler and the team at Patrice & Associates. His dedication, professionalism, and genuine care made all the difference in finding a career that will help me provide a better life for my son and me.

Hez's ability to understand my needs and match me with the right opportunity was remarkable. His guidance and support throughout the process were invaluable, and his commitment to excellence is evident in every interaction. There isn't a better person for the role he plays in helping change people's lives. I wholeheartedly recommend Hez Butler and Patrice & Associates to anyone seeking a career change.    

Thank you once again for your incredible support.

 

Best regards,

John

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