Restaurant Industry Forecast with CEO of Firehouse Subs

It was a big week for restaurant industry professionals in Chicago. As usual, Foodable Network was on the ground floor talking to the greatest innovators in the foodservice sector. 

On Monday, we held the IO ChangeMakers live stream during the 2019 NRA show where we interviewed operators, chefs, and brand leaders "The Change Makers" to discuss the challenges and opportunities that are setting our industry up for success.

To kick off the event, we spoke with Don Fox, CEO of Firehouse Subs about what the future holds for the restaurant industry. 

Although there are countless headlines claiming that the restaurant industry is doomed, the industry's revenue has been on a steady incline over the last 10 years. The revenue in the past decade has increased from $379 billion to an estimated overall $863 billion in 2019 and this growth is being driven by millennials.

"They are just more inclined to add variety in their meal occasions. But I have seen reporting on an absence in brand loyalty in years past. The biggest brands are vulnerable to that. They are looking for a set of attributions and experiences that the largest brands can't provide. So that just pecks away at those large brands occasions," says Fox. 

Watch the video above to get a taste of this informative interview. 

Want to see the full video? It's available exclusively now for On-Demand members. Learn more about Foodable On-Demand now.