THE FUTURE OF FOOD

“THE OLD RESTAURANT MODEL IS DEAD. IT NO LONGER MAKES SENSE TO PAY FIXED RENT FOR SPACE PEOPLE CAN’T SIT IN.”

- LEIGH BUCHANAN

Food connects, in some way, with virtually every challenge the world faces. Seth Goldman connects, in some way, with virtually every aspect of food. His résumé includes stints working at food startups, and at corporate, vegan, and philanthropic food organizations. Insider asked Goldman about food’s future.

Insider Food delivery has grown in the past six months as much as it had in the previous five years. What are the implications for real estate?

Goldman It no longer makes sense to pay fixed rent for space people can’t sit in. I think you will see a lot more ghost kitchens—restaurants that offer only pickup and delivery. PLNT Burger exists only in Whole Foods, where, rather than fixed rent, we pay a percentage of sales. So you pay only if you are succeeding.