A new year for some might mean a slight adjustment to how you write out the date — for prepared investors, it means a wealth of industry knowledge to examine from the past year. We have put together some of the trends we have noticed that make sub franchises like Jon Smith Subs a magnificent investment opportunity in 2020.
No Shortage of Opportunities
Customer demand for convenience have grown past a trend, it is now a standard. Due to this demand, fast-casual restaurant opportunities are continuing to flood communities. Think about it from the consumer’s standpoint: Would you rather go to the store and fill your cart with countless ingredients for some elaborate meal, or take a look at a menu and just pick what looks tasty, then receive it moments later? It’s a simple demand while addressing a fundamental necessity of life. What has been the result? According to the National Restaurant Association, it’s incredible growth for the upcoming decade. Their research shows that over 1.6 million new restaurant jobs will be created by 2029. That will mean almost 17 million jobs in our industry! Growth in the restaurant industry has been steadily climbing by over three percent since 2014. To our restaurant industry experts, this is a fantastic sign of flourishing interest in businesses like ours.
Projected Revenue Boom
Although you can see the demand our product produces by observing the lines that form outside sub-franchise, it is more evident with the revenue milestones that have been hit in the global sandwich market. Sub stores posted a total revenue of $25 billion in 2019. Impressive yes, but that total looks like it can be more than tripled by 2021. Global analysts from TechNavio found that the market could easily surpass 102 billion by the end of next year. This is financial progress that investors crave almost as much as our customers with our sandwiches.
Millennials Love Fast Casual
When you hear the words fast food, your mind might immediately go to greasy burgers and long drive-thru lines. The fast food scene has always prioritized getting the customer their meal as soon as possible. That style of instant demand will sometimes hurt the quality of the food, something that should never be lost. Fast-casual sub franchises like Jon Smith Subs take that expectation of convenience and pair it perfectly with quality ingredients and a far more welcoming in-store environment. And the best thing of all, Millenials everywhere can’t get enough of it. As spending power starts to change hands to these younger customers, this is the demographic that sub franchises like ours are looking to attract.
Do you want to learn more about the process of transitioning your skills into business ownership? Contact us today and learn more about the process of investing in one of our Jon Smith Subs franchises.