Have you ever wondered what the largest restaurant data.com/en/solutions/restaurant-chains/’ target=’_blank’>chains are? Expansion into the foodservice industry is often a daunting proposition for a franchisor looking to set up shop in a local market. But understanding the current landscape and trends of the area should give a franchisor a look into what can be expected from the competition.
Today, Food & Beverage is an expansive industry featuring many large and small players. Whether in a city or town, all of these restaurants have done something to gain traction in the market share. This article explores the market dynamics in United States, taking the perspective of a franchisor who seeks to understand local food trends. With Brizo’s board and diverse set of data, we surely can draw insight into the foodservice industry and plan for competitive expansion.
To be successful in the Food & Beverage industry, understanding the needs of the consumers is key. Thus, to really understand the competitors, an in-depth look at their menus, restaurant technology and operational approach is the best way to gain insight. Franchisors can leverage the data sets from Brizo to start prospecting customers, discover insights, and target and convert more leads from the foodservice market.
To start this market analysis, let us take a look at the 10 largest and most successful restaurant chains, according to statistics released by the National Restaurant Association.
The McDonald’s Corporation is the largest restaurant chain in the United States, and its worldwide system includes over 38,000 restaurants, which garnered a reported $21.1 billion. Burger King continues to be a strong contender in the fast-food market, with 15,543 restaurants worldwide and yearly sales of $13.9 billion according to Nation’s Restaurant News. Third on the list is Starbucks, with over 32,000 locations worldwide earning nearly $19 billion in net worthlast year.
Chipotle Mexican Grill follows closely behind in fourth place, recording reported revenue of $4.8 billion. In fifth place is the Yum! Brands Inc. system, which includes Taco Bell, KFC, and Pizza Hut. Sales of all three chains amounted to $13.6 billion.
Subway completed the top 10 list, totaling 26,932 restaurants and a reported $10.3 billion.
In addition to the largest chains, the United States is certainly home to many other foodservice establishments. Evolving from the traditional fast-food and large restaurant chains, the market now boasts much more diverse cuisines from numerous independent restaurants. Understanding regional differences is of paramount importance in an ever-evolving market. For instance, it may be beneficial for a franchisor to include a menu item specifically tailored for the regional audience.
On the technology side, franchisors should consider offering digital services such as mobile ordering and contactless payment. As seen during the pandemic, providing more remote options such as delivery and takeout, can minimize the risk of exposure to COVID-19 while bringing in more customers. Gathering more insights on operations and gaining a competitive edge can be done easily with a data-driven approach by leveraging foodservice data from Brizo. With more comprehensive market intelligence and insights, franchisors can make decisions with confidence and streamline production innovation.
The foodservice market in the United States is an ever-evolving industry that has seen dynamic and changing industry needs due to the pandemic. Thus, if a franchisor is looking to expand into the US foodservice industry, it is important to understand the landscape and trends of the local market to successfully plan for competitive expansion. Leveraging Brizo’s board and diverse set of data will help to guide the process, allowing for more targeted research and prospecting of the foodservice market.