As the hospitality industry braces for post-budget challenges in the new year, new research has revealed that Brighton-based businesses may have the best chance of weathering the storm.
The research, from the experts at money.co.uk business insurance, analysed numerous factors, including sector growth and consumer spend, to reveal that Brighton offers the best chance of survival for hospitality startups.
The best cities to open a restaurant
Brighton takes the top spot, with a startup score of 7.45 out of 10. Restaurants in Brighton are in high demand, with more competitor businesses per 100,000 people than any other UK city.
There has also been a 17.24% increase in this type of business in the city over five years, indicating a strong customer base to sustain new startups in the sector.
Owning a restaurant in Brighton is costly, with rent costing £22 per square foot per year – one of the highest rates nationally. However, Brighton’s residents make the profits worthwhile, spending an average of £14.30 at restaurants and cafés each week – the joint-highest expenditure on this list.
The best cities to open a bar
According to the research, Brighton takes the top spot again, with a startup score of 7.17 out of 10. Brighton is the second most densely populated city in the top 10. The 6,601 people per square kilometre population makes for a high number of potential customers.
Brighton has the highest number of businesses in the sector, showing just how much demand there is for bars. The local industry has also seen a growth of 17.24% in the last five years, which is among the highest in the UK.
The best cities to open a hotel
Once again, Brighton wins, with a startup score of 7.33 out of 10. It is a popular tourist destination, with more than 300,000 international visitors visiting the city, nicknamed ‘London-by-the-sea’, each year.
The average hotel in Brighton is also among the most expensive in the UK at £95 on a Saturday, meaning there’s lots of potential for profit.
