10 Aug The Industry Outlook for South Florida Sub Shops
Consumers may still get a craving for a burger and fries – maybe with a milkshake on the side! – but these days, they’re more health conscious and are less likely to give in to those cravings. And that’s good news for anyone looking to buy or sell a sub shop business in Florida.
As Atlantic Business Realty, a South Florida business broker with the practical experience needed to help anyone looking to buy or sell a business in Florida, explains, as we become more health conscious, we tend to avoid fast food joints… with one exception.
The Sandwich & Sub Shop sector of the industry has managed to increase sales by offering consumers what they want – healthier dining options at affordable prices.
Taking a Bite Out of the Competition
According to reporting on Sandwich & Sub Store Franchises in the US from IBISWorld, a provider of meticulously researched business information and market research on thousands of industries worldwide, “Franchisees managed to maintain that momentum during the period by developing new menu options that capitalize on increasing awareness of the health risks associated with a high-fat diet. As a result, the industry has been able to thrive, despite rapidly evolving consumer preferences, which has led to the stagnation and decline of other fast food and quick-service restaurants.”
Growth in the industry has been consistent and IBISWorld, founded in 1971 by noted businessman and futurist Phil Ruthven, expects that growth to continue. “Industry revenue grew 4.3% and 6.0% in 2015 and 2017, respectively, as consumer confidence surged in those years,” they report.
Looking ahead, they say, “When consumer spending is high, consumers will be more likely to spend money on dining out at sandwich and sub shops. Consumer spending is expected to increase in 2019, representing a potential opportunity for the industry.”
If you have a sandwich or sub shop in Florida and want to sell your business, South Florida business broker Ron Ginsburg can help. He can be reached at: