For a restaurant franchise to succeed in the fast-changing and competitive food service marketplace, gathering the right information about the industry is absolutely essential. It is more than just customer demand that every franchise needs to consider – there are countless variables that affect a restaurant’s chances of success, from its data.com/en/platform/’ target=’_blank’>menu options to the local competition to the regulations imposed by the health and safety framework.
Thankfully, there are now more tools available than ever before to help restaurateurs make informed decisions about the food service marketplace. Technology, such as Brizo’s data analytics platform, are transforming the industry and providing franchisees with a deeper understanding of the market than ever before.
Before we dive into what Brizo has to offer, it is worth briefly outlining the broader factors that restaurateurs should consider when determining the viability and profitability of their investment decisions. These include customer demand within the local marketplace, the potential for purchasing local food items, the cost of ingredients, the cost of labor, and the total costs of rent. Such cost factors must be weighed against the potential revenue that a franchise can generate in order to determine the likelihood of a successful financial outcome.
The next layer of consideration for restaurants has to do with the competition. Every location will have its own unique set of competitors, from independent restaurants to national chains, and it is important to understand a restaurant’s place in the local market. This can be done by assessing factors such as menu items, value propositions, pricing, and customer experience.
Finally, there is the regulatory aspect of opening and operating a restaurant. Health and safety regulations have become increasingly strict in the US and can vary from state to state, so it is a business owner’s responsibility to understand all relevant legal and administrative requirements.
This is where the usefulness of Brizo’s service comes into play. Brizo is a leading foodservice market intelligence platform that provides detailed insight into the current state of the food service industry. It is especially valuable to franchisees in that it offers an easy-to-navigate platform for understanding the trends in a particular market, therefore making it much simpler to identify potential customer demand and local competitors in each region before opening a new restaurant location.
Brizo’s data enrichment platform provides a range of helpful data points, including in-depth menu information, pricing data, licensing, restaurant technology trends, and more. This contributes to a comprehensive overview of the food service market, and can put franchisors in a much stronger position to assess their industry and make decisions.
Some of the specific features that Brizo offers include sales prospecting, marketing to the foodservice market, and finding kitchens to expand operations. Sales prospecting enables prospective franchisees to target potential leads in a much more efficient way than before, while marketing functions allow businesses to create campaigns based on data-led industry insights. Finally, the platform also offers an invaluable tool in finding the ideal kitchen location for prospective franchisees.
The most important factor that Brizo offers is the ability to drill down into the unique details of each regional food service market. For example, menus are a great insight into the direction of the industry in any particular location. Being able to analyze recent and upcoming menu items and specialties can tell franchisees a lot about the tastes and preferences of their potential customer base.
Overall, Brizo is a great tool for restaurant franchisors looking to stay on top of the ever-changing food service market. Its detailed market intelligence and data enrichment features provide an unparalleled insight into the prospects of any potential franchise location, informing decisions with purpose-built industry data and research.
