Operating profile of the restaurant industry in Virginia

Abstract

The objectives of this study included the development of a classification system for the restaurant industry in Virginia and the provision of an operating data base to be used in the future to asess annual changes and mate trend comparisons. A questionnaire was mailed to 2,864 restaurant operations which were randomly selected from the total population of restaurants in Virginia. Demographic data, as well as financial information was collected from a total of 120 respondants. Results for the entire sample were reported at the .1 level of confidence. Operating characteristics, ratios, and a sample Profit and Loss statement was reported for the entire sample. A classification system was developed and the sample was broken down according to it. This system includes major class divisions for type of restaurant, type of management, total sales volume, and general location. Results are compared to other sources of information pertaining to the restaurant industry in Virginia. This study provides industry members with a source of comparative information. It is also useful as a data base upon which future comparisons can be made utilizing the classification system.