When expanding to a new city, one of the first steps a franchisor needs to take is researching the local food scene. With so many diverse restaurants, cuisines, ingredients and approaches to foodservice, establishing a foothold in a crowded market can be a challenging task. Fortunately, a thorough evaluation of credible cuisine can be a valuable tool for understanding the needs and indispensables of any foodservice market.
Brizo is a trusted source for market-level insights into the foodservice industry. With its wide selection of data and custom fields, thorough menu breakdowns and restaurant technology coverage, organizations can get the insights they need to make informed decisions. This data can be used to target sales prospects, increase leads from marketing activities, and find the right kitchens and equipment to expand operations. By understanding the full picture of any foodservice market, credibility and trust can be established to boost the success of any franchise.
In order to evaluate and understand any foodservice market, there are certain key steps that need to be taken. Continue reading to learn more about these steps, and how viable data can help franchisors make better decisions for future growth.
Analyzing the Needs of the Market
Before taking any steps towards expansion, it’s important to first understand the current needs of the market. A franchisor should take the time to identify any potential business opportunities and analyze the competition in the local market. This can be done by perusing key industry reports, investigating food trends, and leveraging customer feedback to better understand any gaps in the current offer.
Data-driven insights can provide franchisors with the statistical data needed to assess the needs of a foodservice market. This can be done by conducting nuanced industry analysis, understanding the behavior of customers, and dictating positioning strategies. All of these insights can help franchisors increase their foothold in a difficult market, as well as capitalize on potential growth opportunities.
From there, franchisors can get a better sense of what kind of food they should be offering and how to position it in the market. Once this analysis is complete and the needs of the market have been identified, franchisors can use that data to their advantage when launching any new locations.
Researching and Understanding the Cuisine
In addition to evaluating the needs of the market, franchisors must also research and understand the cuisine of the area. When considering which dishes to include in a commercial kitchen, gastronomic talent, recipes, and cooking approaches should all be taken into account.
The best way to research the cuisine of a particular market is to look at the restaurants and chefs that have defined the area. Food critics, writers, and other tastemakers can provide valuable insights into the nuances of any cuisine.
Beyond that, data-led industry insights can help franchisors identify key trends, analyze menu items, and drive decision-making. By understanding key menu items, pricing, flavors, themes, ingredients, and unique menu elements, franchisors can tailor their menu items to the local flavors loved by customers.
Expand Operations and Find Kitchens
Once the needs of the market and the cuisine have been thoroughly analyzed, the franchisor can begin to look for kitchens and equipment to expand their operations. Before making any final decisions, franchisors should conduct a thorough assessment of the local market, in order to ensure that any equipment they purchase meets the needs of the local area.
Data-rich market intelligence can provide franchisors with the insights they need to make smart operational decisions. By understanding local cuisine, equipment availability, and kitchen regulations, franchisors can dive deeper into the food service market and discover the best possible kitchens and equipment for their business.
Last reflections
When looking to expand into any new foodservice market, it’s important to evaluate and understand the local cuisine. With the help of data-driven insights and analytics, franchisors can make informed decisions that will boost the success and credibility of their brand. Through thorough evaluations, franchisors can gain a better sense of the needs of the market and how to position their offer to best meet these needs. By taking the time to understand the culinary world of any local market, franchisors will be in the best position to make long-term success.
