Ghost kitchens, a $43.1 billion industry in 2019, are expected to become a $71.4 billion industry by 2027, according to Hospitality Technology. But as major restaurant brands expand into virtual restaurants in some form, the industry could become quite competitive. The international food and restaurant consultancy Baum & Whiteman anticipates a forthcoming point of oversaturation akin to the dot-com boom of the 90s -- and a rush of mergers and consolidations in the next two years as a result. Having access to capital and other financial resources right now could be critical for these operations to build and maintain a presence. But as these nascent operations develop and look for capital to expand, they’re often seeking help from financial institutions that may not have been exposed to these businesses enough to effectively underwrite them. As a result, new sources and methods of financing are popping up, which may be welcome and necessary for ghost kitchens looking to navigate the challenges of the current economy. One such company is Ghost Financial, which according to Tech Crunch offers a cash-back credit card to be used for food and beverage inventory purchases, and also uses “data and technology to underwrite restaurant expansion loans and credit limits for the card.” Next, the company plans to focus on offering restaurant insurance and developing an optimized payroll system.
Comments are closed.
Subscribe to our newsletter