by Vince Yustas » Mon Nov 12, 2007 1:23 pm
Interesting tidbit: Owensboro has been ranked the 7th best market nationally even though having the fewest restaurants of Kentucky's five metro areas. I cut-and-pasted the article because you need a password to log on.
11/12/2007
Owensboro 7th best restaurant market
By Keith Lawrence
Messenger-Inquirer
The self-proclaimed "Barbecue Capital of the World" -- also known as "Chowdown Town" -- is getting some national attention for its appetite.
Restaurant Business magazine's November issue ranks Owensboro as the seventh best market nationally for restaurants -- right behind Las Vegas.
Myrtle Beach, S.C., topped the list, followed by Fort Walton Beach, Fla.; Flagstaff, Ariz.; Ocean City, N.J.; and Honolulu.
The Owensboro metropolitan area -- Daviess, Hancock and McLean counties -- has 188 restaurants, the magazine said.
That's the fewest of any of Kentucky's five metros.
But local restaurants will take in an estimated $273.9 million this year -- an average of $1.46 million each, the magazine said.
That's nearly double the $751,704 in sales the average restaurant in Louisville sees, the magazine reported.
Even Las Vegas, No. 6 in the survey, reported smaller average sales per restaurant -- $1.2 million -- than Owensboro. But that city has 4,266 restaurants to share its $4.8 billion in restaurant sales.
"We're about to close two restaurant deals in Highland Pointe," Brad Anderson, a partner in Gulfstream Enterprises, said Wednesday. "Neither is in Owensboro now."
That company is developing Highland Pointe, Woodlands Plaza and Gateway Commons in the Kentucky 54 area.
Anderson said he's working with six to eight restaurant chains now, trying to negotiate deals along that corridor.
"Owensboro is getting a lot of attention already," he said. "And this should help."
Culver's Frozen Custard and ButterBurgers, a national chain with more than 340 stores, opened a Highland Pointe location six months ago.
Work is nearing completion on Roca Bar, a pizza restaurant next door. And a Louisville group is developing a Japanese restaurant in the strip center next to Kohl's in Woodlands Plaza.
"Business has been great," Tyler Shookman, co-owner of the Culver's franchise, said Wednesday. "Our sales are above average for Culver's locations. And we're looking at an even better future with the new hospital, hotel, arena and convention center coming out here."
Restaurant Business wrote: "Owensboro, on the Ohio River 100 miles west of Louisville, is also gearing up for development. Underway is a $40 million riverfront development with a marina and river walk; a $400 million medical center and the $390 million Gateway Commons, with a hotel, convention center and arena."
"That's great advertising," said Nick Cambron, chairman of the Greater Owensboro Chamber of Commerce. "There's a lot going on in Owensboro."
Cambron, a Realtor, said he's working with several restaurant chains that are looking at the Kentucky 54 corridor now.
"This area is a retail mecca," he said.
The magazine's Restaurant Growth Index studied 363 metropolitan areas, looking at total sales, total number of restaurants, per capita income and other factors.
Vince Yustas
Brandenburg (nee Paterson, NJ) KY
"Only a fool argues with a skunk, a mule or the cook."