Restaurant

A restaurant is an establishment that serves prepared food and beverages to be consumed on the premises. The term covers a multiplicity of venues and a diversity of styles of cuisine.

Economics

In economics, restaurants are the end of the supply chain in the foodservice industry. There is usually much competition in most cities since barriers to entry are relatively low, which means that for most restaurants, it is hard to make a profit. In most First World industrialized countries, restaurants are heavily regulated to ensure the health and safety of the customers.

Related Topics:
Economics - Supply chain - First World

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The typical restaurant owner faces many obstacles to success, including raising initial capital, finding competent and skilled labour, maintaining consistent and excellent food quality, maintaining high standards of safety, and the constant hassle of minimising potential liability for any food poisoning or accidents that may occur.

Related Topics:
Food poisoning - Accident

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Additionally, when economic conditions change-for example an increase in gasoline prices-households typically spend less on dining out.

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