New York City Dominates the List of the Highest-grossing Independent Restaurants

A restaurant interior - Source restaurantbusinessonline.com
New York City Dominates the List of the Highest-grossing Independent Restaurants

Restaurant Business magazine has released its annual ranking of the Top 100 Independent Restaurants, an important benchmark for industry operators that highlights the highest-grossing non-chain restaurant concepts in the United States. This year’s list included 30 New York City restaurants. 

All of the restaurants in the Top 100 have the ability to be resilient and find a formula that works in today’s difficult market. “Just like the chains, independent restaurants faced major issues over the last year, making operating—and growing sales—increasingly difficult,” says Sara Rush Wirth, managing editor of Restaurant Business. “In the face of the tough labor market, competition for real estate and a crowded market, these concepts still managed to survive and, in some cases, thrive, even as some other stalwarts were forced to close their doors.” 

Overall, revenues for this year’s Top 100 remained relatively flat from last year’s list, totaling about $1.8 billion in 2016. But in an industry where chains are seeing sales decrease, some independent operators are seeing flat as a win. Food and beverage revenues ranged from Tao’s $42.5 million to approximately $13 million for Cafe Fiorello in New York City. 

New York City independents 

Urban markets—often known for bringing in tourist dollars—are home to many of the restaurants in this year’s ranking. The Big Apple leads with 30 restaurants on the list, including newcomer La Sirena, helmed by Mario Batali. To view the complete rank of New York City’s top independents, visit 2017 Top Independent Restaurants in NYC. 

The top 10 independents in NYC and their 2016 revenues are as follows:

 

Restaurant

Top 100 Rank

2016 Sales

Tao Downtown

3

$33,401,819

Carmine’s (Times Square)

4

$33,147,017

Lavo New York

7

$26,822,655

Smith & Wollensky

8

$25,961,337

Bryant Park Grill & Cafe 

9

$25,400,000

Junior’s (Times Square)

11

$23,972,978

Vandal 

12

$23,680,917

Tao Uptown

14

$23,089,638

Buddakan

21

$20,555,460

The Smith (Lincoln Square)

27

$18,950,000

The full Top 100 Independents feature is published in the October 2017 issue of Restaurant Business magazine. To view more restaurants on the ranking, visit www.restaurantbusinessonline.com/top-100-independents-2017.