I think there are a few things here that cause this: a) You're going against the worst kind of incumbent- the 15 year old nephew or kid next door. He's cheaper, good enough, and "trusted". He is competition that exists a million times over. b) Even if your system is better, they just can't be bothered to even get a good demo. You definitely need to build something so usable and good it's frightening, but good luck ge…
The other problem is going beyond, "hours of operation/location" + "menu" + "phone number" takes integration with on site software. So now your competing with all those Point Of Sale systems. IMO, there is a huge opportunity for a unified website + POS + Back end software company. But, to step beyond what's out there would take a huge investment.
I help run a family restaurant with tight margins to deal with. With really small capital to budget, my father and uncle decided a POS system was not worth the money and commissioned me to build a usable system since I was the "tech guy" of the family.
I hacked something up using kiosk mode browser running off of locally-hosted PHP scripts saving to a MySQL database that backsup online nightly to Google Docs. It's an old computer and hacky system, but it works because of the ability to review data at night at home in the office via GDocs with pretty stats and keeps the family happy.
I asked previously here: http://news.ycombinator.com/item?id=1431181 on HN, but got no response.
I'd devote more time to this and get a better MVP out the door except for extreme time commitments to said restaurant on the floor and in the back, and due to school commitments.
Like Retric said, you could make a killing with a web presence+POS on the floor+cloud saving features if you built a startup that showed how you could save time and money for restaurants and make things easier, while not charging for an arm and a leg. The market is filled with Geocities-era looking sites from spammish vendors all with their unique-as-a-snowflake proprietary file and data formats.