As businesses expand into new locations, a successful strategy requires more than just finding available spaces to fit the business’ footprint. As tedious as it may be, a great deal of research about the local culture, competition, and customer preferences are essential for franchisors to determine the best course of action. This is especially true in the foodservice industry which is the driving force of franchising in the United States. With increasing competition and customers becoming more mindful of purchases, a successful franchise must constantly be evolving to meet these changing needs.
To succeed, franchise owners must first understand the larger foodservice environment. This requires thoughtful examination of the current customer base, evaluation of what resources are available, and understanding the dining trends of the local market. To illustrate the importance of this research, take a look at the case of a successful restaurant data.com/en/solutions/restaurant-chains/’ target=’_blank’>chain that decided to expand into a new city. They thought their winning menu and layout would draw enough immediate interest to guarantee success. However, when they opened their first location, the cuisine wasn’t quite up to the precious expectations and the chain was not able to reach the scope of their goal.
This instance highlights the importance of analyzing the market and shifting certain kitchen items to meet local demand. To ensure that each franchise is able to meet the changing needs of their particular market, franchisors need to provide comprehensive data that accurately reflects the larger foodservice environment.
For instance, Brizo provides a board and diverse set of data that allows franchise owners to analyze the specific nuances of their region. This gives franchise owners a clear view of the market in their areas. Using this data, which includes in-depth menus, sales reports, and restaurant technology coverage, franchisees can get a better understanding of their local area and customers.
Equipping franchise owners with data-driven insights for their location is essential for understanding customers while running a successful business. This data is especially futuristic and allows owners to make decisions in real time, based on accurate analytics. However, many prospective franchise owners may be limited in technical understanding and knowledge. With that being said, Brizo offers data enrichment programs to help business owners understand the information that Brizo’s platform provides.
With Brizo, franchise owners can have a comprehensive understanding of their respective market and use that understanding to make better and more informed decisions. Now, restaurant owners have the ability to streamline their operations, strategically expand their brand, and be more definitive in the decisions they make for their franchise.
Above all else, equipping franchisees with the data and information they need to succeed is critical for a business’ sustainable success. By offering detailed data-driven insights to franchisees, restaurant owners can make decisions with confidence and follow through on their expansion goals with ease.
