Burgers have become a mainstay of the American diet, with 2019 sales reaching over $3.1 billion in the United States. With a rapidly expanding food industry, franchises are increasingly looking to capitalize on the lucrative burger market. Franchisors looking to get into the burger space should, however, put together a comprehensive strategy to make sure their investments pay off in the long run. To help franchisors navigate the market, this paper outlines a few key steps for formulating a successful burger expansion strategy.
Analyze the Burger Market
Franchisors should begin their journey by diligently analyzing the burger market. The data available through Brizo can provide key insights into the opportunity and current competition, allowing franchisors to evaluate the potential size and reach of possible locations. By understanding the current market landscape, franchisors can develop more targeted approach to their expansion plans.
Conduct Extensive Research
Though it might seem obvious, never underestimate the power of research when plotting an expansion strategy. Success in the foodservice market requires an intimate knowledge of local trends, preferences and competitors. Leverage publicly available data sources to analyze population trends and target markets. Franchisors should also conduct research into the existing competition to develop a comprehensive understanding of how their product may need to differentiate itself from the crowd.
Optimize Branding and Messaging
In order to maximize success in the burger market, franchisors need to have a comprehensive approach for their brand identity. This includes determining brand values, mission statements, and developing an emotionally resonant story. Franchisors must also work to gain visibility by promoting their identity through in-store teams, website pages, community activities, and social media campaigns. Further, franchisors will need to work to build relationships and trust through direct customer engagement.
Leverage Automation and Technology
The key to fast, efficient and successful operations in the burger market is leveraging automation and technology. Invest in innovative solutions to create a better customer experience, streamline production, and reduce labour costs. Utilize data and analytics to develop a richer understanding of customer needs and preferences. Automation technology almost always pays off in the long run in the foodservice market.
Develop Strategic Partnerships
Developing strategic partnerships is one of the most often overlooked component of successful burger market expansions. Franchisors should carefully identify potential partner businesses that can help to achieve their goals. Identify potential suppliers of meat, produce, buns, and other necessary ingredients, and then work to form mutually beneficial long-term relationships. Further, franchisors can also identify local businesses to serve as delivery and catering partners in order to maximize the reach of their operation.
Getting into the burger market is a daunting task. However, with specialized insights into foodservice market data and with the right preparation, franchisors can make sure their expansion plans are as profitable as possible. Moreover, with Brizo providing both comprehensive coverage and detailed analytics, franchisors have a whole suite of tools at their disposal.