CHAPEL HILL, N.C., Feb. 3, 2014 (GLOBE NEWSWIRE) -- A new study shows that quick-service restaurant operators might want to follow in the footsteps of basketball superstar LeBron James and take their talents to South Beach.
According to QSR magazine's fourth annual Growth 40 report, Miami is the No. 1 large market in the U.S. for quick-service restaurant growth potential.
"The recession that started six years ago hit Miami particularly hard, but the city has rebounded much better than most U.S. markets," says Sam Oches, editor of QSR. "Unemployment is down, the population is expected to grow 10 percent by 2018, and quick-serve unit density is very low. All of these factors make it a smart destination for the industry."
The Growth 40 is the result of a partnership between QSR and The NPD Group, a leading source for foodservice trends and performance indicators. The report outlines the top 10 large markets (more than 3 million residents), 15 medium markets (1–3 million residents), and 15 small markets (fewer than 1 million residents) for growth potential.
Austin, Texas, is the top medium market, while Palm Springs, California, is No. 1 among small markets. But Miami, with its population growth and expected 16 percent jump in quick-service traffic, offers the best opportunity for restaurant operators looking to grow in a new city.
"There's a lot to like about Miami, including great weather, cultural diversity, and year-round tourist activity," Oches says. "Operators moving into the city should find it to be a promising destination for expanding their business."
To review the Growth 40 report and see which other cities made the cut, visit www.qsrmagazine.com/growth40. For more information, contact Sam Oches at Sam@QSRmagazine.com.
About QSR magazine
QSR magazine is a thought leader for the quick-service and fast-casual restaurant industries. Now in its 17th year of publication, QSR takes seriously its role in promoting industry values through its award-winning editorial content. In 2013 it furthered that mission by spotlighting the many contributions women make to the foodservice industry, and in 2014 the magazine will promote a Healthy and Active Lifestyle through its HALO Awards initiative. Learn more about HALO Awards at www.foodnewsmedia.com/halo.