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Outback Steakhouse has always had a formula for success. From its tiny beginnings in 1987, to
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Shyamal Patel October 13, 2005 MGTG 200 Professor Goldberg Thursday 5:20 Outback Steakhouse Case 1) What are the standout business and economic characteristics of the restaurant industry? * Restaurant-industry sales are forecast to advance 4.5% in 2003 and equal 4% of the U.S. gross domestic product. * The overall economic impact of the restaurant industry is expected to exceed $1 trillion in 2003, including sales in related industries such as agriculture, transportation and manufacturing. * Food and Drink revenues were estimated at $426 billion. * More than seven out of 10 eating-and-drinking places are single-unit (independent) operations. * The restaurant industry employs an estimated 11.7 million people, making it the nation's largest employer outside of government. * The restaurant industry provides work for more than 9 percent of those employed in the United States. * Restaurant industry employment was expected to reach 13.3 million by 2012. * Eating-and-drinking places employ more minority managers than any other industry. * Two-thirds of...
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