NAICS 72221 - Limited-Service Eating Places
This industry comprises establishments primarily engaged in (1) providing food services where patrons generally order or select items and pay before eating or (2) selling a specialty snack or nonalcoholic beverage for consumption on or near the premises. Food and drink may be consumed on the premises, taken out, or delivered to the customer's location. Some establishments (except snack and nonalcoholic beverage bars) in this industry may provide these food services in combination with selling alcoholic beverages.
Industry trends:
In the NAICS 72221 category, which encompasses Limited-Service Eating Places, several qualitative trends have gained prominence lately. One notable trend is the increasing consumer preference for healthier and more sustainable food options. Limited-service eateries are responding by incorporating more plant-based and organic items into their menus, emphasizing locally sourced ingredients.
Another prevailing trend is the digital transformation within the sector. The adoption of mobile ordering apps, digital kiosks, and contactless payment methods has accelerated, driven by consumer demand for convenience and safety, a shift that was notably expedited by the COVID-19 pandemic.
Additionally, there is a marked shift towards eco-friendly packaging. Consumers are increasingly conscious of their environmental impact, leading limited-service restaurants to adopt biodegradable and recyclable packaging solutions. This trend is expected to grow as regulations around single-use plastics become stricter.
Lastly, delivery and takeout services continue to be a significant focus. Many establishments are re-evaluating their space to prioritize takeout and delivery operations, possibly reducing dine-in areas. This aligns with the growing trend of consumers valuing the convenience of eating restaurant-quality food at home.
Forecasts for the near future suggest these trends will persist, with technology playing an integral role in shaping the customer experience. Continuous innovation in menu offerings towards healthier choices, along with a sustained commitment to sustainable practices, will likely remain central themes in the industry's evolution.
This industry is comprised of:
Explore related industries:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.