Know The Restaurant Types and Why They Matter

“Fast Food”

“Fast Casual”

“Fine Dining”

Before you dig into these easy explanations, it’s a fact that the fast casual segment has been growing at 3-times the rate of all other parts of the restaurant industry for 9 straight years. Even now, during these bizarre times.

Here you go:

What’s Fast Food? (AKA Quick Service Restaurant, “QSR”)

Average food
Small, limited menu
Rarely (if ever) offer table service
Quick, inexpensive meals always made exactly the same way
Simple, cheap, speedy
Frozen, preheated or precooked ingredients served in a packaged form usually for take-out/take-away
Food ordered from the front counter
Diners carry their order from the counter to their preferred table
Diners dispose of their own waste
Pay upfront
Mass produced product
Usually no alcohol available
Have drive-thru windows and encourage take-out
Cater to budget-conscious folks in real hurry
Functional ambiance
Plastic seating and tabletops
Fluorescent lighting

What’s Fast Casual? (AKA Limited Service Restaurant, or “LSR”)

Fresh ingredients with fast-food convenience
Higher quality food than fast food, yet in an informal setting, with counter service to keep things speedy
More sophisticated ambiance than fast food
Healthier, spicier options and far more of them
Meal quality closer to fine dining than fast food
Convenience
Growing much faster than fast food and sit-down counterparts
Offers affordability, quality taste & great customer service
Customized selections
More food prepared at the restaurant than fast food (which is often frozen and then reheated)
Full table service is not usually offered
Disposable plates and cutlery are common
Quality of food and prices generally higher than fast food, but lower than fine dining
Fewer frozen or processed foods than fast food
Sales increased dramatically during and after the 2008 economic recession
Caters to everyone, but especially those who want healthier options, more choice yet the affordability that fast food offers
Made-to-order food
More complex flavors than fast food
More upscale, unique décor than fast food
Higher-end feel with nice interior design than fast food
May offer alcoholic beverages
Offers full meals at a good price that mean a good value for customers
Casual atmosphere (no ties required)
Average meal price between $8 and $15
These days, curbside pickup, delivery and, of course, take out

What’s Fine Dining? (AKA “sit down,” “upscale,” or “full-service” restaurants (“FSR”)

Moderately or expensive options in a casual or upscale atmosphere
Provides table service (meals are delivered to you at your table)
May require a tie (have a dress code)
High quality décor
Expectations that certain rules be followed (like dress code plus more)
Pay after your meal
Often have a full bar with bar service (not the more revolutionary self-pour option)
Specific, dedicated course offerings
Often formal atmosphere
Usually no curbside takeout, delivery or take-out options
Meals take time to cook and deliver to your table
High quality cuisine at a high-end price

So there you have it. Some terms explained.

CNBC recently reported that fast casual brands, that are public companies, have among the best performing stocks post-COVID-19, as they’re expected to recover much faster than other brands, or sectors (fast food, and fine dining). Furthermore, according to Restaurant Business Online: “Fast-casual… made up the vast majority of the industry’s unit growth as fast-casual operators expanded into more markets.”

Restaurants have taken a huge hit during this pandemic. Yet fast casual’s going strong.

BI Form CRS Form Privacy Policy Terms Of Use

RISKS & DISCLOSURES

We’d rather use this space to tell you more about our awesome restaurants and how passionate we are about bringing Wiley Area Development LLC dba Tasty Equity to the world, but our lawyers asked us to do this instead. So, make them happy by reading this while we get back to doing what we do best: opening and helping to run restaurants.

The information on this website was created by Wiley Area Development LLC dba Tasty Equity to assist with marketing our Regulation A share offering. The text on this website is a summary but does not contain all of the terms of our securities offering. In order to review all of the terms of our securities offering, you should review our offering circular that contains all of the terms, conditions, risk factors, and disclosures that you should read and understand before you invest in our company. The offering circular is available to download here for you to read and review before you invest. If the offering circular has been filed with the United States Securities and Exchange Commission, so you can also view it on the SEC’s website here: https://www.sec.gov by searching for “Wiley Area Development” in the search box on the top of the SEC’s website. The offering circular explains that we are offering 1,000,000 units of Class B membership in Wiley Area Development LLC dba Tasty Equity at a price of $5.00 per unit with a minimum purchase of 20 units per investor.

The SEC does not pass upon the merits of, or give its approval to, any of the securities we are offering or the terms of our offering, nor does it pass upon the accuracy or completeness of our offering circular or other selling literature. The securities we are offering are offered pursuant to an exemption from registration with the SEC; however, the SEC has not made an independent determination that the securities offered in our offering circular and in our offering are exempt from registration.

When you review our offering circular, please review all of the risk factors before making an investment in our company. An investment in our company should only be made if you are capable of evaluating the risks and merits of this investment and if you have sufficient resources to bear the entire loss of your investment, should that occur.

Generally, no sale may be made to anyone in our offering if the aggregate purchase price you pay is more than 10% of the greater of your annual income or net worth. Different rules apply to accredited investors and non-natural persons. Before making any representation that your investment does not exceed applicable thresholds, we encourage you to review Rule 251(d)(2)(i)(c) of Regulation A. For general information on investing, we encourage you to refer to www.investor.gov.

Our offering circular does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation would be unlawful. No person has been authorized to give any information or to make any representations concerning our company other than those contained in our offering circular, and if given or made, such other information or representation must not be relied upon. Prospective investors are not to construe the contents of our offering circular, or of any prior or subsequent communications from our company or any of its employees, agents or affiliates, as investment, legal, financial or tax advice. Before investing in our offering, please review our offering circular carefully, ask any questions of the company’s management that you would like answered and consult your own counsel, accountant and other professional advisors as to legal, tax and other related matters concerning this investment.