Charleston Restaurant Report January 2018
ON THE MENU1. Green Scene – GREEN RESTAURANT ASSOCIATION AWARDS TOP HONOR TO MCDONALDS UNIT2. Local Restaurant News – RESTAURANT STAT RECAP 2013-20173. Restaurant Openings, Closings and Coming Soon Lists!4. National Restaurant Trends – TAX BILL CONTAINS BIG BENEFIT FOR RESTAURATEURSGREEN SCENEGREEN RESTAURANT ASSOCIATION AWARDS TOP HONOR TO MCDONALDS UNITQuick-serve giant McDonalds is showing that even fast-feeders can blaze a trail of sustainability in the restaurant industry. A McDonalds in Maryland was recently awarded the GRA’s Level 1 certification for implementing environmentally-friendly initiatives such as LED lighting, water-saving spray nozzles and aerators, and a full-scale recycling program, while also eliminating paper towels and polystyrene foam packaging. In addition, the franchisee provides bus transportation cards to employees. The utility savings are pumped back into the business and its employees. All restaurants should follow their lead. Read all about it in Nations Restaurant News....LOCAL RESTAURANT NEWSRESTAURANT STAT RECAP 2013-20172017 welcomed 90-plus new Charleston-area F&B establishments and said farewell to almost 50 others that closed the doors one last time. While I do not profess to know of every single restaurant opening / closing in the market, my numbers show that at least 495 F&B establishments have opened and at least 220 have closed in the Charleston area in the last five years (since January 2013). Net gain: +275 with plenty more new establishments to come.RESTAURANT OPENINGS, CLOSINGS + COMING SOON!The following Openings + Closings lists reflect 4th Quarter 2017 market activity (October - December 2017):OPENINGS --Basic Kitchen (Downtown – former Delish! Bakery & Bistro)Bin 526 (Daniel Island)Bowties (James Island – former How Art Thou Café)Brown Dog Deli 225 (Downtown – former Smith Street Pizza)Cantina 76 (Kiawah)Clean Juice (Mt. Pleasant)Dockery’s (Daniel Island)Felix (Downtown)Grumpy Goat Cantina (James Island – former Harborview Bar & Grill)Munkle Brewery (Downtown)Nico (Mt. Pleasant – former Pane e Vino)One Broad Street (Downtown)Pawleys Island Brewing Co. (N. Charleston)Peno Mediterranean Grill (N. Charleston)Purlieu (Downtown)Sonic (West Ashley)South Seas Sushi (Downtown)The Getaway (Downtown – former King Dusko)The Spot 47 (Downtown)Tu (Downtown)Vintage Lounge (Downtown – former Priya)Welkin Coffee (Mt. Pleasant)CLOSINGS --Applebee’s (Summerville)Calder’s Pub (Mt. Pleasant)Connections (West Ashley)How Art Thou Café (James Island)IHOP (West Ashley)O’Brion’s Pub (Mt. Pleasant)Pick Thai (James Island - fire)The Codfather (North Charleston - relocating)White Duck Taco Shop (James Island)COMING SOON (expected to open in the 1st quarter '18) --Betty’s Diner (Mt. Pleasant – former Aya Cookhouse)Bon Bahn Mi (Mt. Pleasant – former Elements)Clean Juice (West Ashley)Charleston Sports Pub (James Island – former White Duck Taco)Cici’s Pizza (Goose Creek)Commonhouse Aleworks (N. Charleston)Famous Toastery (West Ashley)Jersey Mike’s (West Ashley)Krispy Kreme (Ladson)Los Reyes (West Ashley)Miller’s All Day (Downtown – former Bull Street Gourmet)Saltwater Cowboys (Mt. Pleasant)Semilla (Downtown – former Lee Lee’s Hot Kitchen)Smoothie King (West Ashley)The Codfather (N. Charleston – relocating)Uptown Social (Downtown – former Huger’s)...Plus 40 more openings coming in the next 4-15 months...NATIONAL RESTAURANT TRENDSTAX BILL CONTAINS BIG BENEFIT FOR RESTAURATEURSA provision in the new U.S. tax law allows operators to depreciate expenses for new and used FF&E purchases and renovations in a single year. This bonus depreciation could really kick start major restaurant renovations across the country. The 100% single-year depreciation provision in the law will run through 2022 and then it declines 20% annually until it expires in 2026. Start planning your CapEx budget and talk to your accountant now! Read more about it here.....