Folks are groaning down here, too, I hear it from industry friends of mine. Low end is actually holding its own since more will flock to cheap eats and drinks to cut back. I'm glad I got out in '01.
the mid level guys seem to be struggling the most. The luxury spenders are to a point somewhat resilient to the bad economy, but my guys are feeling it, 80% of them are down from last year and some in a big way. as you said low end places today are managing to stay busy, but making far less profit than a year ago. two big staples for small places, flour and fryer oil both cost upwards of four times as much as they did a year ago
I was just talking to someone today and they're friend works for Frito Lay. They're business is BOOMING right now. Guess folks are eating chips and salsa at home instead of out at restaurants