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Atlanta Restaurant Sales Trending in Positive Territory Says Local CPA

Written by Eric Gagnon | Oct 31, 2011 4:03:00 PM

Atlanta restaurant sales are up over 2010 continuing a positive trend measured for each quarter of this year by local CPA Robert Wagner of NetFinancials.

Atlanta restaurant owners are breathing a sigh of relief over increased sales in third quarter 2011 versus 2010.  That's according to CPA Robert Wagner's latest survey of 70 independent Atlanta restaurants.  Those surveyed reported gains of 6.4% over the preceding year for the same time period and marks the third consecutive quarter of gains for the local Atlanta restaurant market.

The local results are better than those cited nationally by the National Restaurant Association that published a report last week showing only 50% of  restaurants surveyed showed increases in September over the prior year.  That was better than August where only 45% of the restaurants surveyed posted gains. In the Atlanta survey over three quarters of those that responded (77%) said their same store sales increased in third quarter.The full National Restaurant Association report can be found online at http://www.restaurant.org/pdfs/research/index/201109.pdf

Robert Wagner, president of NetFinancials said, "National surveys showed that consumers were in a grumpy, pessimistic mood. The Atlanta restaurant industry is incredibly fortunate that in such a challenging environment, Atlanta consumers continued to spend on eating out."  Those thoughts were mirrored by We Sell Restaurants President Eric Gagnon who stated, "Atlanta is a very resilient restaurant market.  Restaurant buyers are definitely present in the market and seeking good businesses to buy as well as a lot more education and information on how to buy a restaurant."

While the sales trending data is positive, it's important to note that some results are being driven by price increases on many menus as a result of commodities cost increases.  As recently as last week, We Sell Restaurants tweeted about food giant McDonald's warning investor's to be prepared for another menu price increase on the heels of two others ones already posted this year.  The industry is seeing higher food costs across all sectors including fast casual, casual and fine-dining.

NetFinancials, Inc. provides a full range of tax and accounting services for restaurant companies and can be found online at www.netfinancials.com.