When evaluating adult beverage sales data, many people overlook a significant area of potential growth for their business – understanding the trends of the foodservice market. Through data-driven insights and analytics, franchisors are able to gain an understanding of local food trends, streamline production, and strategically expand their brand. By leveraging data enrichment and market intelligence, they can make informed decisions with confidence and make sure their business stays ahead of the industry curve.
When marketers and franchisors create a deeper data-based understanding of the foodservice market, they can build strategies to attract, convert, and close more leads and customers. Using this data, businesses can also develop strategies for expanding operations and finding new restaurants and kitchens to utilize for production. Understanding relevant trends in the foodservice industry can help inform strategies for existing franchisors about where they should look to expand their operations.
It is essential that franchisors have access to data-rich insights and analytics in order to make informed decisions about foodservice. For example, when constructing a strategy for expanding operations to new restaurants, it is important to consider menu data including pricing, dietary and ingredients, as well as food production trends, and data related to Menu Engineering. Menu engineering is the process of analyzing menu items to determine profitability and popularity.
Organizations are also able to utilize data to make decisions about recipes, menu items, nutrition, and tap into insights regarding local tastes and preferences. This type of market development can be further enhanced through the use of restaurant technology tools such as AI, predictive analytics and machine learning. With technology assisting in analyzing fluctuations in foodservice trends, franchisors can better understand customer needs.
Ultimately, gaining a deeper data-based understanding of the foodservice market can help franchisors increase their bottom line and stay ahead of the industry curve. These data-driven insights and analytics provide franchisors with the ability to make informed decisions with confidence. With Brizo’s board and diverse set of data for deeper foodservice market understanding and analysis, organizations can equip their sales teams with the data they need to succeed in the foodservice sector.
