With online shopping trends growing each and every year, we have seen a rise in small brand retailers closing their brick-and-mortar locations. This, in turn, has created an opportunity for the restaurant industry, to utilize these smaller footprints for a defined, compact food and beverage concept.
The old adage of restaurants needing 2,500 to over 5,000 square feet of space has diminished over the past five years (minus the recent surge in shared food halls). It is becoming more common to see a 600 to 1,500-square-foot restaurant thanks to the noted retail closures in addition to lower lease cost demands during a time where all other restaurant-operating expenses seem to be on the rise.
However, finding a high-quality location of this size that meets the required foot traffic and other design/operational components to operate a successful restaurant is still a challenge for an aspiring restaurateur.Read More