Best cities to open a restaurant
Former Food Network star Willie Degel hopes to create ‘willionaires’ by taking his Uncle Jack’s Steakhouse brand into the franchise world, with plans to go public within two years.
Finally ready to open that dream restaurant you've been planning for years?
Well, just like any small business, location is key for determining longevity.
According to a new study from Bid-on-Equipment, some cities are better for restaurateurs than others.
To determine the list, the equipment resale company analyzed four key factors across 236 cities, including annual restaurant sales per capita, restaurants per capita, number of restaurant industry workers per capita and median income in each city.
Each factor was then graded on a 100-point scale and weighted among the other cities to reach its final ranking.
Arlington, Virginia; Ann Arbor, Michigan; and Washington, D.C. topped this year's list with high levels of industry wokers per capita and sales.
Providence, Rhode Island and Lakewood, Colorado, however, scored lower due to poor median incomes levels.
Here's a look at the top 10 cities to open a restaurant, according to the study
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1. Arlington, Virginia
Sales per capita: $4,556
Workforce per capita: 7,711
Median income per capita: $108,706
2. Ann Arbor, Michigan
Sales: $2.877
Workforce: 5,734
Median income: $57,697
3. Washington D.C.
Sales: $3.622
Workforce: 5,867
Median income: $117,617
4. San Francisco, California
Sales: $3,851
Workforce: 5,769
Median income: $104,879
5. Atlanta, Georgia
Sales: $3,745
Workforce: 6,333
Median income: $77,382
6. Cambridge, Massachusetts
Sales: $3.962
Workforce: 6,349
Median income: $75,909
7. Boston, Massachusetts
Sales: $3,404
Workforce: 5,112
Median income: $107,311
8. Plano, Texas
Sales: $2,696
Workforce: 4,980
Median income: $79,234
9. Seattle, Washington
Sales: $3,105
Workforce: 5,308
Median income: $100,630
10. Bellevue, Washington
Sales: $2,571
Workforce: 4,445
Median income: $100,703