Press Releases

Flexibility key to success for restaurant operators in 2010

23 February 2010

The ability to adapt to changing consumer trends, combined with flexibility on operational issues and acquisition targets, will prove crucial factors in the success of the majority of restaurant operators over the next 12 months, according to Christie + Co, the specialist property agent and advisor.

Whilst the economic climate remains uncertain, operators are being continually faced with new challenges whether it is their offers, discounting, opening times or growth strategies. Added to this is the constant need to adapt to consumers’ changing perception of value and the increasing strategic way in which they plan on where to eat that day or week.

Operators are also being forced to show flexibility with their expansion plans, in terms of location, investment and lease terms.

Simon Chaplin, Director at Christie + Co, said: “Trends that were established over the last 10 years are no longer prevalent, consumers are making trade-offs in their eating out decisions and operators will need to be as alert and as flexible as possible to match these constant switches in need and expectation.

“The downturn has also pushed operators, especially those that are established, into reassessing their expansion plans. Some are taking a long-term view by investing in acquiring under-developed sites in key locations, whilst others are looking at closed pub and bar sites as new opening opportunities.

“Landlords are also showing flexibility by offering lengthy rent-free periods, monthly rental terms and assisting with fit-out costs.”

—Ends—

For further information on this press release, please contact: Mark Wingett at Christie + Co. Tel: 020 7227 0794. mark.wingett@christie.com

Our Spokespeople

Our People - Directory