The restaurant industry is a tough business with high failure rates, but people still hoping to open one might want to head to Texas. Personal finance site NerdWallet analyzed 530 cities (with a population of at least 50,000) to see in which U.S. cities a new restaurant would likely be successful. The company used U.S. Census Bureau data to calculate the score for each city "based on demand for new restaurants and local economic conditions that could affect the success" of the business. Of the top ten cities, three are located in Texas.
The number of restaurants around Austin, Texas has doubled in the last five years
Topping the list is Cedar Park, Texas which is a "major suburb" of Austin. NerdWallet notes that in the last five years, the number of restaurants in the suburb has doubled, largely due to an influx of new residents. Mission, Texas, which comes in second on the list, is also a smart choice: Heavy traffic along an interstate that bisects the city has lead to an increase of foot traffic for nearby businesses. In sixth place is the third Texas city, Frisco. NerdWallet says that in the past five years, the town has added 100 new restaurants and in the last year, sales at restaurants topped $200 million. Other good cities to open a restaurant? Number three, Franklin, Tennessee which is in the midst of a restaurant boom, two cities in Georgia — Smyrna and Alpharetta — and Fishers, Ind.
However, now may not be the best time to open a restaurant. While a space may be easy to secure, the industry is in the midst of a staffing crisis. Many of the country's top restaurants are having a hard time finding cooks and chefs to run their back of house.