As the foodservice industry continues to grow and evolve, franchisors searching for new locations find themselves posed with an important question: how can they understand consumer trends and behaviors when selecting a site? To understand what the perfect franchise opening looks like and how to take advantage of current market movements, we’ve created a guide for North American franchisors looking to expand locations with a broad understanding of consumer restaurant trends.
Today’s consumer trends revolve around convenience and cost-effectiveness, meaning franchisors must think long and hard about location, product offerings, competitive landscape, and more. Using the power of data, franchisers can get ahead of the competition and establish stronger leads for the greater success of the business. To do that, franchisers need to explore deeper foodservice market understanding and analysis platforms like Brizo that provide informative and diverse data.
In this article, we answer some frequently asked questions related to consumer restaurant trends and provide an overview of the data-driven insights and analytics built for sales teams, marketing prospects, and researching kitchens for expansion purposes. Finally, we’ll look at how data enrichments can help the franchiser make better decisions regarding their market.
What are the Types of Customer Demographics the Franchiser Should Consider?
Consumer restaurant trends vary from the types of restaurants being opened to the demographic regions most frequented by customers. When selecting a site for a new franchise, the franchiser should consider the demographics of the area, such as population size, median income, age range, dominant race ethnicity, housing, and family details.
With a basic understanding of the demographics in a given area and what type of locations are the most popular, the franchiser can utilize Brizo data to narrow down which markets are the best for their product. By analyzing Brizo’s comp store sales, trends, information on menu items, and customer reviews, the franchiser can properly gauge customer flow, customer preferences, and the competitive market.
What are the Best Data Platforms to Utilize for Foodservice Market Intelligence?
Brizo is a leading foodservice market intelligence platform providing in-depth perspectives of restaurants, their offerings, their customers, and their areas. From menu data to comprehensive restaurant tech coverage, Brizo can help franchisers with their sales searches, marketing efforts, and decision-making.
Data platforms like Brizo help provide even further access to timely, organized market trends and insights. Brizo enables franchisers to differentiate areas of competition by analyzing restaurant reviews, menu item preferences, and guest satisfaction from customer feedback. Additionally, sales teams can easily track consumer purchasing patterns and design a specialized marketing approach that meets customer needs.
How Does Data Enrichment Help with Franchising Decisions?
Data enrichment helps the franchiser better understand the restaurant industry by providing comprehensive market insights that enable more accurate decision-making. By utilizing data-rich platforms such as Brizo, franchisers can uncover valuable consumer restaurant trends, analyze brand loyalty, and track the success of a restaurant franchise in its various locations.
Data enrichment platforms provide detailed consumer insights, ratings, and reviews that are tailored to the foodservice industry, which allows franchisers to better understand what and who’s eating what in different parts of the country. Additionally, data enrichments help franchisers compare their product or services to competitors in the same region.
Lastly
Understanding consumer trends is a key factor for franchisers when expanding locations. Through research and the utilization of data-driven insights such as those found on Brizo, franchisers can get a better understanding of customer purchasing patterns, preferences, and loyalty. The data from unbiased sources is key for making profitable and reliable decisions. Ultimately, the franchiser needs to have a thorough understanding of the foodservice industry to succeed in their expansion efforts.
