For a food industry professional looking to break into the restaurant business, opportunities abound in the form of large-scale restaurant data.com/en/solutions/restaurant-chains/’ target=’_blank’>chains with huge footprints across the United States. Among the biggest players in the market are recognizable names like McDonald’s, Taco Bell, KFC, Burger King, and Subway, all of which operate thousands of outlets, with many more locations expected in the years to come. With the right approach and insight into the market, a franchisee entering the foodservice industry can pocket massive profits while helping to build up a global brand.
Analysing the restaurant business from the viewpoint of a franchisor, the first step to getting started is understanding the competition and how each of the big players measure up against each other. To do so, references such as Brizo’s board and diverse dataset can be used to gain a deeper understanding of the foodservice market, including insights into the menu of each of the large chains or tech coverage on different aspects of their operations. With further researched data, a franchisor can identify potential locations to open up its own franchise before proceeding to the next step of prospecting for those premises.
After locating a potential site, the next step is to understand what are some of the unique differences between the big restaurant chains and what will make an outlet of the franchisor stand out from the competitors in the same neighbourhood. For instance, an in-depth analysis of their offerings, pricing structure, locations, promotions, customer service, and other related areas can be used to create a manageable set of adjustments that can differentiate the franchisor’s product from the rest. Understanding the target demographics of a specific location can even help to dictate how the menu and promotions are adapted to appeal to a wider range of customers in order to drive sales.
Aside from analysing competitors and the local customer base, a franchisor must also the ensure that operations within their outlet are able to run to the best of their capacity. To do this, they must equip their sales team with the necessary data-driven insights and analytics to ensure that each of the sales are tracked efficiently and quickly reported on for analysis and optimization. Furthermore, with foodservice market intelligence data enrichment, a franchisor can enhance their operations with more comprehensive insights to enable their daily decision making.
Finally, the last step to getting started on largest restaurant chains is finding the best kitchen supplier, locations, and production innovation that best meets the needs of the business. For help in doing this, a franchisor can turn to trustworthy third-party companies like Brizo’s foodservice market intelligence, which contains proprietary data and analytics to assist an aspiring business owner on the path to success.
In short, it takes the right combination of research, planning, accuracy, and insight to get one’s foot in the door of the restaurant business. Knowing the extent of the competition, identifying potential locations, understanding local customer demographics, and possessing an operational awareness are just some of the key steps of getting started with the biggest restaurant chain in the market.
