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The rate at which food chains expand and grow drastically varies across the world. Many small and medium sized establishments have quickly built a reputation and seen a dramatic rise in profitability over the years. While starting a food chain or restaurant is a major feat, there are certain things to consider to ensure consistent growth. From concept, to a brick and mortar location, to customer experience; the road to success requires attention to every detail. Here are the top 10 things to consider when it comes to the fastest growing food chains from data-fueled growth.
1. Conceptualize & Analyze Your Idea
Creating a concept that officially stands out is crucial for a successful food chain. Think through the small details from a customer experience perspective. Survey customers for their feedback or consider taking note of popular trends among other food chains. Once you have identified and conceptualized your idea, do a thorough analysis of your target demographic and area. Taking the time to fully understand the market within which you are entering is one of the biggest factors in rapid growth. Observe the gaps in the industry and how your food chain can suitably fill them in.
2. Identify & Design the Ideal Menu
Armed with the proper market analysis, take the time to design and optimize your menu. Draw on your customer feedback, data-driven insights, and industry trends in order to cater to the needs of your target market. Take into account the products that are most profitable and which items can be specifically catered to the crowd in your given area. Challenge yourself to create dishes that are unique and offer an edge over the competition. Don’t forget the presentation — creating but also making sure the food looks appealing, has inviting colors, and is preferably cut in smaller portions.
3. Choosing the Right Location
The location you choose is of utmost importance when it comes to success. The location of the restaurant must be efficient in terms of customer convenience, parking, and accessibility. Make sure to take into account factors such as customer foot traffic, local competition, areas that are greater in terms of population density, and keeping up with other food chains. Utilize resources such as foodservice market intelligence and data enrichment to draw conclusion about the most suitable location for maximum growth.
4. Mismanage Technology Cautiously
In order to keep ahead of the curve and gain seismic attention, many food chains rely heavily on the use of the latest technology. From robotic kitchens, to mobile delivery systems, to the latest customer engagement platforms, it is convenient and tempting to use all these features. Although technology often times is the elixir of huge success, make sure to consider the cost-effectiveness of the technology prior to investing. Also, use these methods to add value to the customer experience — not at the expense of service or efficiency.
5. Leverage Social Media
Social media has become one of the most common marketing techniques used in the food industry. Leverage the power of powerful platforms such as Instagram and Facebook to engage with customers and boost your visibility. Take note of the type of content that your potential customers are consuming and post accordingly. Creating a loyalty program and discounts for current customers is also a great way to nurture growth.
6. Provide Quality Customer Service
Adequate customer service is huge factor when it comes to staying competitive or earning excellent reviews. Make sure your employees understand how to effectively and professionally interact with customers. Teach your employees to focus on being attentive, courteous, and understanding when it comes to guests’ needs or requests.
7. Utilize Data
Data is one of the most valuable assets when it comes to planning effective strategies. Monitoring and collecting valuable customer data can be invaluable resources and help enhance your targeted marketing. Utilize tools that provide you with insights about menu trends, production goals, and competitor analysis that can help you make data-backed decisions.
8. Focus on Quality
Quality is the ranked the number one factor that determines whether or not customers come back. Utmost attention must be given to quality control and executing each dish to perfection. Make sure to set standards in terms of ingredients, taste, freshness, presentation, and other important factors.
9. Maintain High Sanitary Standards
Health and safety go hand in hand when it comes to the customer experience, especially in the food industry. If customers perceive your food chain to be unclean, it is very likely that this may repel them from both the premises and the food itself. Focus on maintaining the highest hygiene standards throughout the kitchen, from taking properly cleaning and sanitizing the equipment to maintaining proper food storage.
10. Deliver on Your Promises
Living up to the customer’s expectations is also vital to success. Take the necessary steps to up your delivery experience. Whether using technology or the traditional methods, make sure to understand the demands of customers that go beyond the dish itself.
Gaining success in the food service industry requires focus and dedication to following these key points. Securing customer’s trust and setting industry trends can go a long way in achieving rapid growth. By utilizing the data and analytics available to restaurants, food chains can leverage important information to enhance their growth.
