Rising labor and food costs are making it difficult for restaurant owners in the Cincinnati region, according to a May 1 statement from WLWT.
The topic is important as many local restaurants face increasing pressure to stay open amid changing economic conditions.
David Brasington, an economics professor at the University of Cincinnati’s Lindner College of Business, said that while starting a restaurant is relatively easy, this leads to more competition for resources such as ingredients, labor, and location. “It’s easy to get into this business, so there’s a lot of competition for price, quality, for experience,” Brasington said.
He also pointed out that food costs have increased dramatically and that uncertainty in the current economy makes running a restaurant as challenging as it was during the COVID-19 lockdown. Brasington said these factors combine to create significant obstacles for those looking to own or operate restaurants today.
The full report can be found on WLWT’s website.
