These days food can be ordered from various “existing” restaurants since businesses are increasingly offering delivery options to their guests. Also you have an array of choices when it comes to delivery apps.
But, as Foodable has reported in the past, “virtual” restaurants are on the rise— especially since these “side” businesses present themselves as an additional source of revenue to places with the extra kitchen space.
Chances are you have ordered from one yourself, already. Services like Ando, Munchery, Savory, DoorDash, Grubhub are available to order from depending on where a customer lives and which nonrestaurants exist in their area.
As reported by “The Wall Street Journal,” “virtual restaurants tap into a larger trend: Americans’ increasing aversion to cooking for themselves.” It points to U.S. Census data that indicates that Americans spent more at restaurants than on groceries in 2016.
Although the food-delivery market amounts to only $30 billion in 2017, as reported by “The Wall Street Journal,” Morgan Stanley's estimate projects this market could reach $220 billion within a few years. Especially if you take into account the low overhead that comes from opening a virtual restaurant where the most important thing the business depends on is a kitchen and a cooking staff— doing away with wait staff and sky-rocketing rent fees for premium restaurant real estate with a curb appeal.
Can this new emerging market grow and remain sustainable? How will this potential societal move towards virtual restaurants affect workers that depend on waiting jobs?
Read more at “The Wall Street Journal”