Recession provides competitive opportunities for small restaurants
Commercial insurance
21st August 2009
Smaller restaurant chains could boost their share of local markets during the current downturn, as many larger outfits are reducing their expansion plans, it has been claimed.
A study carried out by property agent Christie & Co indicated that start-up groups could take advantage of the opportunity to secure prime sites while competition is less fierce.
With many leading groups putting plans to extend their reach on hold over the past 18 months, newer and smaller operators may benefit, something that could interest restaurant insurance customers.
"With the larger groups otherwise engaged, the door has been opened for emerging operators such as Jamie's Italian and Cote," head of Christie & Co's corporate restaurant team Simon Chaplin commented, adding that bigger players will return to the market once the economy recovers.
Meanwhile, the first-ever London Restaurant Festival is taking place this October, with more than 1,000 locations across the capital expected to participate.
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