I know this is what you tell yourself. I know when you wake up and read articles like this. You tell yourself there isn't a robot that will replace my job. Or worse my whole industry. I am here to tell you that you are dead wrong. Because the problem is not just a direct hit. You are also subject to the fallout. Kind of like when a nuclear bomb goes off. You actually worse off. Because all the radioactive fallout will contaminate every single thing. In the end everything is irradiated. This is the same problem here.
So let's look at truck drivers in the USA. This industry is looking to be the first to be completely upended in the upcoming changes. With the oncoming adaption of driver-less trucks and robotic loading and unloading both inside and outside the warehouses. This has a large immediate impact. There are 3 million as just truckers. And overall 8.5 million people that support and operate in other roles direct to the transportation industry and trucking..
How does that break down?
Now let's do some math on the facts above.
If there are 3.5 Million people who spend about 10% of their money on food. Let's now assume that about 60% of that gets spent on the road. Considering that most of the time truckers are on the road driving delivering our goods all over the USA. Where is the most common place to eat on the road?
Fast food right?
Now let's look at their numbers:
Fast food industry - Statistics & Facts
The fast food industry in the United States is worth approximately 198.9 billion U.S. dollars.
By 2020, this figure is forecasted to exceed 223 billion. The majority of this large market is comprised of on-premises restaurants and drive-thrus, the rest consists of off-premises dining (take out) and cafeterias and buffets. In 2016, there were 186,977 franchised quick service restaurants in the United States; a figure which has grown by almost 28 thousand from almost a decade ago.
Now if I put my pen to paper and do some round numbers. It would be about 10% of the overall sales of fast food nationwide. Imagine if that went away overnight. That means a cut overall sales. How many people would that impact? Could your business survive a 10% reduction in revenue overnight? Maybe you can maybe you can't. But for the record, the fast food industry would feel it.
This is just one data point from one industry segment. So when I tell you that your business will be disrupted. That is why I say it...
Until next time...Keep building an empire!