Restaurant Feasibility Study
Restaurant Industry competition will continue to intensify, and successful concepts increasingly need technological add-ons, dynamic vision statements, and distinguished levels of service.
Even the great plans fall short if there are too many similar restaurants in the area drawing from the same pool of potential customers. It is important to analyse your competitors, and decide what unique benefits your restaurant can provide to attract more customers. We help you to get started off on the right foot.
Our Restaurant Feasibility Study is an invaluable tool in assessing the probability of success and risks associated with your restaurant project, helping you see the clear picture before you break ground.
Our restaurant feasibility study team of consultants will visit your location and compare your concept’s unique features with your restaurant’s location attributes and then present you with a financial projection of your business.
Our Restaurant feasibility study includes the following:
- Conduct site visits to inspect characteristics of your market, your proposed location, and competition set of restaurants in your area
- Define the primary, secondary and tertiary market segments
- Analyse the location demographic and lifestyle segments in your location.
- Analyse the popular restaurant concepts in the market for missing concepts, over-served and under-served concepts and categories to identify opportunities,
- Determine the target customer personas
- Determine the size of the market segments
- Review and identify all possible traffic patterns and location obstacles for the proposed restaurant site
- Develop the value proposition canvas
- Prepare estimated annual sales projections and revenue forecast for the new restaurant concept based upon our findings
Get in touch with us today to know more