The costs facing full-service restaurants players are extremely diverse and depend on city and location, in addition to outlet size. There are leases ranging from COP15 million to COP140 million.
Full-service restaurants players will need to continue to invest in improving their delivery capabilities. E-commerce and online ordering saw a strong rise in demand during the COVID-19 crisis, and this is set to boost such sales over the coming years.
Crepes & Waffles, the leading brand in European full-service restaurants, as well as in overall full-service restaurants, has demonstrated itself to be an innovative model. It has gained important recognition over the years to become a key domestic brand within consumer foodservice, whose offering differs from that of any other participants in the channel.
An important differentiator being employed by restaurant brands, especially full-service restaurant brands, is the development of resource-conscious proposals, using Colombian foods, closing the circle and treating the labour force fairly. These initiatives are communicated through social networks and during the meal.
The COVID-19 crisis has caused several restaurants players to diversify their business strategies. Amongst full-service restaurants operators, there are several now offering additional catering services, home-cooking and the development of do-it-yourself lines for consumers to prepare in their own homes.
The number of independent full-service restaurants players will continue to decline over the early part of the forecast period as seating capacity is unlikely to be restored to pre-pandemic levels, and these operators tend to have less capital to stay afloat. The increase in operational costs and the reinstatement of taxes in a year of election are important obstacles that independent restaurants will have to overcome with a budget that has already been diminished after a year of lockdowns and changes due to the pandemic.
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Full-Service Restaurants
FSR (full-service restaurants) encompasses all sit-down establishments where the focus is on food rather than on drink. FSR is characterized by table service and a relatively higher quality of food compared to quick-service units. Menus offer multiple selections and may include breakfast, lunch and dinner. Preparation of food products is often complex and involves multiple steps. NOTE: restaurants types catalogued in this segment refer to table-service only (outlets with a proper “full table service:” wait staff attending customers and taking orders at the tables). Outlets with “limited table service” are excluded from FSR. For example: outlets where customers order their food at the counter are excluded (even though the waiter will then bring the food at the table).
See All of Our DefinitionsThis report originates from Passport, our Full-Service Restaurants research and analysis database.
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