Exploring Food Halls as Entrepreneurial Incubators and Neighborhood Revitalizers

According to self-described “foodie” Michael Altman, food halls are more than just exciting places to try local dishes. These establishments also serve as entrepreneurial incubators and city block revitalizers.

Altman, who serves as Assistant Professor of Practice and director of Meredith’s Hospitality and Tourism Management Program, has recently had his joint research on food halls published in the Journal of Business Venturing Insights. (Read a summary on Substack.) 

“I can’t think of a more accommodating and fun way to dine with family or friends than to gather in a place where everyone gets to peruse a variety of foods from unique local vendors, order exactly what they want, and then come back to a communal table to dine together,” said Altman.

As an entrepreneur and an academic, his interest in food halls goes beyond the culinary and into his work in place branding, which is the “strategic process of shaping and managing the identity, reputation, and perception of a location—whether that’s a city, region, country, neighborhood, or even a college.”

Altman helps clients define what makes their “place” distinctive and determines how to communicate that story in a compelling way to different audiences that might include residents, visitors, investors, and businesses.

“In the context of this work, I often verge into placemaking where I help these ‘places’ to fill in the gaps by attracting public and private investment, mostly to underserved neighborhoods in need of revitalization,” he said. “I have long suspected that food halls can serve a community in multiple ways, so I decided to undertake some research with my colleagues to flesh out the story. 

Altman and his research partners, Lane Graves Perry III, assistant professor of entrepreneurship & innovation leadership at Western Carolina University, and Nathan Woolard, applied associate professor in entrepreneurship and management at the University of Tulsa, visited 11 food halls across five U.S. cities for the project.

“We engaged with 35 owners, operators, and vendors and realized fairly quickly that food halls function not only as your local collection of neighborhood eateries, but as true incubators for new businesses and catalysts for community revitalization,” Altman said. 

“By connecting placemaking to entrepreneurial ecosystem development, our study highlights how food halls are actually their own little micro-ecosystems that generate local economic growth, social cohesion, and urban renewal through fostering entrepreneurial activity and community engagement. This confirms that there is fabulous stuff going on both inside and beyond the food hall walls!” 

Altman’s research interest in food halls could go in many directions in the future.

“We haven’t yet picked a focus for the next piece of this, but consider this: In 2010, there were 25 food halls in the U.S., and by 2023, that number surged to nearly 360, with 175 more in development. By 2027, over 700 are projected,” Altman said. “Clearly, value is being created here, and the lessons we learned hold promise for other emerging micro-ecosystems and call for further research into how place and partnership shape communities and the journeys of entrepreneurs within them.” 

Food halls also provide real-world examples for the students Altman teaches in hospitality and tourism.

“Several of my hospitality and tourism classes have visited food halls to gain perspective on how they operate as both vibrant community hubs and as local tourist attractions,” Altman said, noting that Durham Food Hall was developed by Meredith College alumna Adair Mueller, ’11. “My spring MBA Entrepreneurship class will be meeting with owners and developers to explore what’s next for food halls.”