Why Is Restaurant Business Important: Crucial Aspects Revealed!

Restaurants include so much more than food and socializing that are important as their own, however, you’d be surprised at how deep the importance of restaurants really go, and how wide the benefits really are.

The restaurant business employs a ton of waiters, chefs, managers, etc, however, the job descriptions don’t end there. Who delivers the ingredients, who design the buildings, and who collects rent funds from the restaurant’s rent? These are all good questions that will be answered shorty.

In this article, you will learn why the restaurant business is so important to the world, who does it really affects among other things. Let’s take a short recap before going into the essentials.

All in all the restaurant business is important because it offers a large variety of jobs, fuels the government’s operation by paying taxes and serves the community as a space to rest and socialize. All these factors work together well and enable the economy to work as it is.

There is a lot to know about everything mentioned above. All the different jobs, government’s operation and what that enables to the community, and the resting places where friends can come together and relax and dine, are very important things to understand so let’s start from the different professions that restaurant business as a whole provides.

Employment

When thinking about restaurants and the job descriptions they offer, you instantly think about the chefs, waiters, kitchen stewards, hotel workers, etc, however, there are much more concealed behind the actual restaurant. Combined, there are 12.5 million restaurant employees in the U.S, therefore restaurants are highly important in terms of employment and more than 10% of the workforce are in the restaurant business. Take a look at the most common job descriptions in the restaurant world.

• Restaurant Manager
• Chefs
• Waiters
• Bartenders
• Host’s
• Dishwashers
• Accountant

The professions above are common and nearly always found inside the restaurant. Now, let’s get deeper past the restaurant and see what professions lie beyond.

As we can see, there are a lot of jobs to do before the restaurant can start its business such as designing the restaurant’s building, constructing it, licenses, insurances, and Suppliers providing the ingredients.

And from everyone’s paycheck and transaction, taxes will be provided to boost the economy which will be our next subject!

Restaurant Business in Economy

The restaurant business is enormous in terms of money! As stated above, there are 12.5 million employees in the restaurant world that contribute taxes to the economy, and the restaurants themselves pay taxes from the profits as well. In 2020, restaurant sales crossed 659 billion dollars so it’s extremely beneficial to the economy, to say the least.

Furthermore, while many industries have shed jobs in recent years, the restaurant business is on the rise and more new jobs are surfacing every year so the benefits to the economy will constantly raise from the restaurants’ view. In fact, studies made by the U.S Bureau of Labor Statistics show that from 2019 to 2029 a steady and huge growth in jobs has projected opening up 550,000 new jobs in the restaurant business, which is way more than any other industries.

However, the competition for the more renowned and higher pay jobs will be heavy, because higher pay attracts all and the employment numbers are so big.

Restaurant Business Globally

The restaurant business is huge globally as well. Imagine all the worldwide trade which includes ingredients, foods, cooking supplies, and virtually anything you can think of. Once unattainable ingredients are now available nearly to anybody if they wish so, however, there aren’t only milk and cookies that come with but also some sticks and stones. Let’s talk about the pros first.

Pros

Simply said, with the global market, you will have so much more choices and you won’t rely on the seasonal products of your area and go with the price changes as well. Also, when globalization wasn’t such advanced there were cases that suppliers made huge demand changes and increased the prices heavily when the contract had its due date, and the business owner had to go along. In today’s world, there are fewer risks in that area.

Cons

When the ingredients come from another part of the world, it goes through many additional steps and stops in a lot of places, therefore you will have less control on what happens to them and what the final quality will be. On top of that imagine if the meat supplier that you ordered your latest fishes from has added some dangerous additives or other harmful pollutions that may even be illegal in your country, there is no easy way to contact the supplier and get the required answers. You will need to handle the angry customers by yourself in that scenario so remember the risks as well.

All in all the final decision is in your hands whether you want to take advantage of the global markets but keep in mind that the locals will always appreciate locally produced and domestic ingredients. However, if you need a specific ingredient it is perfectly understandable and fine to get them from elsewhere.

Benefits of Socialization

When the world is changing at rapid speed and technology is conquering more areas of our life, dining in a restaurant and having a good meal is more important than ever. We as humans are tightly connected to food, not only because we need it to survive but also it is connected to culture, family, and the best moments and memories that we share as a species.

How many times you have waited that the time when you can go out with friends or family and socialize? I assume regularly and as a chef myself I see huge benefits in that. However, don’t take only my word for it but various studies show that coming together for a meal can help reduce stress, improve digestion, benefit mental and physical health among other things.

How Restaurants Can Help the Community

There are various innovative things and ideas on how to help the community as a restaurant such as giving a certain percent of the profits for a good cause, hosting fundraising events, collecting within the restaurant, or starting a charity foundation of your own. The vast majority of restaurants have some kind of charitable cause and I have listed some ideas below on how to give back or where to donate for.

• Local Hospital
• Host a Holiday Meal for the Hungry
• Worker Foundations
• Schools
• Kid’s Sports Teams
• Struggling Individuals (Burned House etc.)
• Donate Excess Food
• Offer a Veteran Discount

As a side bonus to you, even helping shouldn’t ever be about yourself, your reputation will greatly increase and a great majority of people will choose a restaurant based on their values, rather than one that doesn’t have any.

Conclusion

Restaurants truly are the backbone of our economy and social life’s and as stated above, the benefits are huge! We all have strong connections to food and most of us cherish the moments when we are out dining with close ones and I don’t know from the rest of you that works in the field, but I do enjoy my time in the kitchen, both at work and home.