Chefs Becoming Entrepreneurs

GE Capital’s Chain Restaurant Industry Review was recently released and reported that large chain restaurants  increased their market share last year with the 100 largest commanding 49.5% of all restaurant sale in the U.S.

In addition, the total number of independent food businesses outnumbered the total number of chain restaurants. Research showed that there is an increasing number of  unique restaurant concepts gathered under a single chef’s or restaurateur’s brand, such as Union Square Hospitality Group. Although many groups have one concept or brand that evolve into a chain, the business stems from entrepreneurial innovators who want to create something new each time.

This is in part, due to the economics. Fine dining establishments are great for chefs looking to establish their reputations, but the toughest kind of business to grow. For many chefs, once they’ve established themselves with a fine-dining concept, an attractive option is to branch out with new, more casual concepts.

Read more about entrepreneurial chefs here.