What Is the Next Restaurant To Close?

The announcement this week that two chain restaurants with locations in Toms River were closing should come as no surprise as these are tough times for an industry in which failure often outperforms success.  TGI Friday’s in Toms River is closed as of today with word of that coming earlier in the week although there was no official announcement from the company.  At least employees had a few days to prepare for the move as in the case of On The Border there was no advance notification.  One woman said her son worked Sunday and then when he came in for his shift of Monday was greeted by locked doors and a sign that the restaurant next door to the Ocean County Mall was closed permanently.

I have many friends who own and operate restaurants here in Ocean County and they all have told me similar stories of how difficult the business truly is.  The public sees a crowded restaurant and bar and assumes the place is making a fortune.  What they don't see is the cost of operating one in today’s economy.  Every streak or hamburger you purchase has to factor in costs like mortgage/rent, taxes, insurance, labor, increasing food/liquor prices, upkeep and many more with most of those out of their control.  Restaurants in general operate at a very thin margin and often rely on alcohol sales to help their bottom line.

In addition dining habits have changed dramatically since the pandemic which has forced the industry to change.  Customers are now looking for small plates instead of three-course meals and many restaurants offer things like “Burger Night” which would have been unthinkable just a few years ago.

With all of that said you do have places that manage to stay above water often relying on loyal customers and I for one will always support the local restaurants and taverns because their success is vital to the community.

Just don’t be surprised to see more closing signs in the near future.