The eating out market can prove a tough nut to crack – not least for new and independent operators. It’s not just the sheer level of competition you’re up against, but the growing cost pressures too. The UK’s National Living Wage, Brexit uncertainties and higher food prices are among the factors that will impact your outgoings. This doesn’t mean you should put your dreams of running a restaurant on ice, however. There are still many things you can do to get a healthy share of restaurant traffic.
A recent report by Morningstar shares some of the lessons that can be learned from some of the top fast-casual chains in the USA. The research – Finding Restaurant Investment Ideas as Traffic Slows* – aims to show how the eating out market in the States still presents prime investment opportunities. For operators, however, it also offers useful insights into how chains can drive restaurant traffic – even in tough conditions. And these lessons are just as applicable to the UK and Ireland as they are to the USA.
* registration required to read report
Restaurant Traffic: What’s The Secret To Your Success?
For its report, Morningstar looked at the American fast-casual chains with more than 10 sites and an average unit volume of $1.6m. Two of the chains to receive a name check were Shake Shack and Freshii – both of whom operate in the UK and Irish markets too. To get a taste of why some fast-casual chains are doing so well, Morningstar spoke to their top teams. From this, the report presents a “four-pillar blueprint for those chains looking to drive traffic in today’s environment”.
The pillars include the creation of a “comprehensive” value offer that goes beyond price to embrace restaurant design, convenience and more, while also adapting to changing views on healthy eating through your menu. Elsewhere, operating a “scalable supply chain” and finding new ways to connect with your diners can also help grow restaurant traffic. It’s a much more integrated approach than the market may be used to. And much the same approach we take to our kitchen equipment rental!
Restaurant Traffic: We Can Be Your Green Light!
Morningstar’s ‘blueprint’ applies to all types of restaurants – not just fast-casual chains of a certain size. For example, engaging with your customers can entice people through the doors. If you’re flexible with your menu to cater for multiple dietary needs, meanwhile, you can show potential customers that you make everyone welcome. But you’ll also have to keep evolving too – as times change, so do the demands of your customers.
It’s something even the biggest industry players like McDonalds have to do.
The willingness to adapt and follow Morningstar’s blueprint, however, is one thing. Being able to do it is another. One thing we can promise you is that equipment doesn’t have to be a barrier. Thanks to our integrated kitchen equipment rental solutions, we’re removing that obstacle. No need to find any up-front capital, nor factor in any potential extra fees; just the best equipment for the best price. Free your business to innovate, grow and drive up both your restaurant traffic and profits.
MORE: Kitchen equipment rental – request a quote todayBack to previous page