With the ever-transforming dining landscape, the foodservice market continues to experience rapid and decisive shifts and pivots in terms of both preference and business operations. Restaurants often state that customers are their top priority, but they don’t always recognize the value of understanding their customer base potential and the social dynamics that impact their target markets. As such, it is crucial for franchisors to equip their sales teams with data-driven insights and analytics into the ever-evolving foodservice market.
The use of actionable analytics and insights from the foodservice market provides potential franchisees with critical information and guidance to make well-informed decisions on expanding into new markets. Whether it’s tracking customer trends specific to the local geographic region or analyzing the menu and service offerings of competitors, data collection is the key to developing and implementing a successful strategy for franchise expansion.
Brizo, a comprehensive and sophisticated data platform, allows foodservice industry professionals to connect with the information they need to make well-informed decisions about their business. In addition, Brizo’s data-rich menu data and restaurant tech coverage provide franchisees and foodservice operators with the important insights they need to create visibility and drive sales. The platform offers a highly targeted research tool enabling franchisees to research and prospect financial performance of different operations in the foodservice market with their unique data fields specific to the foodscene.
Using the data available from Brizo, franchisees can gain a better understanding of the foodservice market and the local trends of the geographic area they are interested in expanding into. This understanding gives operators a much clearer and in-depth view of the needs of their particular demographic and the scope of their potential customer base. This in turn can help them tailor their product and menu offerings, as well as outline a comprehensive business plan which is centered on meeting local customer needs.
By understanding the current landscape of the food service market, franchisors are able to not only gain insights to create targeted marketing campaigns but also to build brands in a specific region. With access to data, franchisors will be better positioned to reach the right customer and maximize their investments in their business.
Competitive Insights allows for an in-depth examination of the market landscape enabling franchisors to anticipate possible competitive threats from existing or new rivals, or to capitalize on the success of others. By understanding consumer preferences, usage, and sentiment, franchisors can more strategically invest their resources and heuristically analyze how competitive forces will react and respond to their plans.
Data enrichment is also an integral part of leveraging the data provided by food service market research. Through detailed insights and accuracy, it enables an even greater level of clarity for franchisees to make informed decisions and for marketers to effectively drive customer transitions and nurture brand loyalty.
Investing in market intelligence allows franchisors to recognize the trends and anticipate the needs of their customers quickly and efficiently. This creates a competitive edge as franchisors can extend an incentive or pivot their strategy in the same direction. When it comes to expanding a franchise operation, having an edge and the ability to leverage data adds a great value to the success of a franchise.
By having these insights, franchisors can streamline production operations and strategically expand their business. Listening and responding to customer needs, understanding and optimizing menu offerings, and finding kitchens to expand operations are all areas which could benefit from data-led industry insights.
Investing in analytics and foodservice market research can give franchisors a clear competitive edge. By the use of actionable analytics, analysis, and insights, franchisors can make this investment attractive with tangible results, as data leads to better understanding, better decisions, and better overall outcomes.