People in the Raleigh area who are looking to start a new business may consider opening a restaurant. The food industry is growing in the Triangle, according to a new report. The number of both independent and chain restaurants went up last year, the report indicates.
As of autumn 2012, there were 5,385 restaurants open for business in the Triangle. That is an increase of about 2.5 percent over the previous year, when only 5,254 restaurants were in operation. While the number of chain restaurants increased by about two percent, small-business restaurant businesses made up of one or two locations increased by four percent, suggesting that opportunities may still exist for those interested in opening their own place.
The restaurant industry saw nationwide growth as well, though at a significantly lower rate. The total number of restaurants in the U.S. was measured at slightly over 616,000, an increase of 0.7 percent. Fast-food restaurants led the growth. An executive with the company behind the food-industry study said that people are going out to eat more often and spending more money once there.
Starting a restaurant can be a rewarding way to succeed in business, but there are legal issues that entrepreneurs should consider. These include obtaining the proper licenses and making sure that all business contracts are comprehensive and legally enforceable. Also, opening a chain restaurant may involve different legal obligations than starting an independent location. An experienced business attorney can be helpful when starting a new business such as a restaurant.
Source: Triangle Business Journal, "Number of restaurants in the Triangle growing at a fast rate," Amanda Jones Hoyle, Jan. 24, 2013
- Our law firm provides legal aid for those starting their own business. For more information, please visit our Fayetteville business transaction page.