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Los Angeles State of Restaurant Report Shows Operators Dealing with Increased Costs, Lower Profits
TouchBistro’s 2023 “Los Angeles State of Restaurants” report shows that restaurants in the city have recovered to 77.4% of pre-pandemic levels, roughly 3% higher than the national average. While the hope was that restaurants would steadily recover from the pandemic, other factors have impacted the process.
Thanks to rising food costs and other expenses that go alongside with running a restaurant, the report found that the profit margins for full-service eateries in LA have dropped to 9.4%...