The following information is meant to be used as a benefit to your existing business or to any business plan you may have regarding the opening of a food business in New Jersey. My hope is that you will use this information to accurately place your business, determine your business’s direction, and determine who your customers are and how to serve them. The data is from the Census Bureau and Bureau of Labor Statistics unless otherwise noted. Good luck and cheers!
New Jersey:
Population– 9,288,994 (April 2020)
- <5yrs: 5.8%
- <18yrs: 21.8%
- 65&up:16.6%
- Female: 51.1%
- White: 71.9%
- Black: 15.1%
- American Indian: .6%
- Asian: 10%
- Pacific Islander: .1%
- 2 Races: 2.3%
- Hispanic/Latino: 20.9%
- White, not Hispanic: 54.6%
- Foreign Born: 22.4%
- Veterans: 321,991
Housing:
Houses- 3,641,812
Med. Mortgage- $2,465
Med. Rent- $1,334
Households- 3,231,874 (2.69 persons/household)
- Language other than English- 31.3%
- w/Computer- 91.4%
- Broadband Internet- 85.5%
Education:
High School or Higher- 89.8%
Bachelor’s Degree or Higher- 39.7%
Health:
No Health Insurance- 9.2%
Disability under 65- 6.5%
Workforce:
Civilian Workforce- 65.5% (16+)
Female- 60.2% (16+)
Travel Time- 32.2min
Med. Household Income- $82,545
Med. Per Capita Income- $42,745
Poverty- 9.2%
Business:
Employer Firms- 233,888
Total Firms- 792,088
Owned By (2012 Data):
- Men- 464,592
- Women- 252,944
- Minority- 237,242
- Women- 252,944
Foodservice & Accommodation Sales- $19,673,558,000
Retail Sales- $133,665,728,000 ($15,709/person)
Food Business:
Food & Beverage(F&B) Stores as % of Retail, 1990-2019, saw a 3.1% increase, from 21.8% to 24.9%. It is the sector with the highest growth by at least a full percentage point.
F&B store growth increased by 4,767 between 2010 & 2019.
F&B businesses compose 24.5% of total NJ retail with 111,445 employees.
The 2019 average F&B store annual wage was $22,232.
Between 2010 & 2019, employment in the retail sector grew the most in Hudson County (5,510). It lost the most in Essex County (-851).
Wages:
- Food Prep Worker- $10.28-$13.70
- Fast Food/Counter Workers- $9.53-$12.61
- General Operations Managers- $37.02-$69.01
Most jobs in the retail sector are filled by people under 25. Most are men (53.7%) and white, non-Hispanic (79%). Women fill 46.3% of the jobs.
Most jobs are seasonal because of the large school-age workforce. Otherwise, the sector relies heavily on immigrant and guest workers.
Projected growth of F&B by 2028:
- Food prep, serving workers, fast food- +55,560 jobs
- Counter attendants, cafeteria, food concession, coffee shop- +38,600 jobs
Accommodation and Foodservice will be 2nd in gains between 2018 & 2028 (319,200-357,130) or 1.1%.
F&B stores are forecasted to decline by -.5% (112,700-107,020)
Percent change of employment in Leisure/Hospitality sector from July 2020 to July 2021 was 37.5%.
The Leisure/Hospitality sector in NJ grew from March 2021 to August 2021, 304,500 to 319,200, a 4.6% increase. It declined from February 2020 to August 2021, 400,00 to 319,000, a 20.25% decrease.
According to The National Restaurant Association and NJRHA:
- Eating and Drinking Places in NJ- 19,050
- Restaurant Sales, 2021- Est. $23.3 Billion
- $1.00 spent in table service = $2.12 to the state’s economy
- $1.00 spent in limited service = $1.58 to the state’s economy
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