There is a school of thought that says the restaurant business is always a good business – people need to eat. A glance at the sales of many of America’s largest restaurant chains over the past decade quickly dispels this myth. Using data provided by food industry research firm Technomic, 24/7 Wall St. has looked at the ten restaurant chains with the greatest decline is sales from 2001 to 2010. In every case, sales have fallen 60% or more.
“Many prominent chain restaurant brands have lost ground with sales over the last decade. As many American consumers gravitate toward a more contemporary dining experience and more exciting menu options, traditional restaurant chains are losing relevance,” Darren Tristano, Executive Vice President of Technomic, told 24/7 Wall St. in an email. “Today’s successful restaurant operator is challenged with keeping their menu fresh, their customers’ experience exciting and their concept contemporary.”