Facts The number of franchise chain has jumped by Independents were hit hard by the recession that started inresulting in a net loss of more than Market analysis on fast food submarkets, outlets between and Healthier options Franchise concepts based on healthier ingredients and meal choices continue to pop up, and the old stalwarts continue to add healthy options to their menus.
Wendys strong brand and low cost of entry for investors franchiseesthe business is perfectly positioned to look at other products or even new business altogether that tap into healthier eating and dispositions of the Australian Consumer.
Research your local market This as important as studying overall industry trends - probably more. New plays on old favorites, healthier versions of classics, or unique flavor profiles like a spicy dessert are just a few examples.
In opened the first shop in a shopping centre in South Australia; Business Model: If you are searching for a franchise opportunity, look for chains that fit your local market, have some price flexibility, are willing to be creative with the menu and are operationally efficient.
Are there specific regional flavors that resonate with the locals? Prepared to pay higher price point, and to pay for quality add ons such as. However, this does not necessarily keep existing restaurants out of the newly emerging submarkets either. Emerging Markets Although their numbers preclude them being included in most industry analyses, emerging markets may be a viable restaurant submarket.
This report includes a wealth of information on the financial trends Potential to offer customised ordering. Adopted a franchising model; Growth: But overall, the recession hurt spending, and consumers overall purchased less with each trip.
Instead, they represent the niche submarkets that appeal to consumers based on changes in the marketplace. Stronger flavor profiles have also started popping up in and consumers are loving them. Expand products into alternative locations such as cinemas. Also included are five Majority are seen as a gourmet offering.
These restaurants are generally free of any franchise tags and the owner is generally in competition with other local owners, although he may also compete with franchises that have similar cuisines. Non-traditional locations Drive-thru and stand alone stores still dominate the fast food landscape, but some chains are exploring new options such as counter service within larger stores, catering and even delivery.
High levels of competition in the fast food industry, a small number of global players doing well and significant local startup activity and competition. Regional Restaurants Regional restaurants are restaurant chains that have a regional influence and appeal.
In the independent restaurant submarket, the owner may own one, two or a small handful of restaurants. Rising popularity of healthy fast food alternatives.
Independents Independents are classified as restaurants that have one to two locations with the same name. Most are seasonal offerings summer products. The industry could face tighter sourcing, manufacturing and labelling standards in the future.
Fast food restaurants have high human resource costs due to staffing the kitchen, the counter and the cleaning crews - and any increase in wages crunches the bottom line. Minimal healthy options available. Aging population — initial indication that aging population may be a negative for the industry assumption that they consume fewer treats.
A local or regional chain is a group of three or more restaurants that operate within a finite geographical area. Many fast food restaurants, for example, offer healthy alternatives to draw in the health food crowd that would otherwise avoid those types of establishments.
Revenue is anticipated to increase over the period. A high level of price sensitivity exists in this segment. Look for an iPad. Strong branding and marketing. Perceptions of unhealthy menus. Growth, New Markets and Products: Rising popularity of take home ice cream packs.
Packing technology — Improvements and innovations packaging for fast food, snacks and treats. Major chains are promising to source fresher ingredients with less additives, free-range chicken is showing up on more menus, and some restaurants are offering vegetables as a main course or the primary side.
Some concepts never take off, like the grocerants of the late s, which sold ready-to-heat meals, while others grow over time.The restaurant industry is a multibillion dollar per year industry that spans the entire globe. Within the restaurant industry there are three primary submarkets that a restaurant owner can pursue business in.
These submarkets are generally defined by the size of the market in which the restaurant operates. Submarkets for the fast food industry include; coffee shops, pizza, chicken, and grocery stores.
This would also include international flavours such as Mexican, Chinese, and Greek. These submarkets present the threat of offering substitute products and increasing competition amongst existing firms. The study of the economics of individual spheres of activity or patterns and behaviors, e.g.
a firm, an industry, a retail market, a consumer segment, pricing, local employment. Submarket A division of a total market that reflects the preferences of a particular set of buyers and sellers, e.g.
fast food restaurants as a submarket of the overall restaurant. Social media / marketing – increased use of social media and online marketing, in addition to traditional marketing approaches. 1. Market Analysis and Segmentation Market Analysis Wendy’s is positioned in the fast food industry, within the treats (ice-cream / deserts) sub-industry.
“LandVision™ Best Practice Article: Understanding Your Market: Submarket Search & Submarket Search and Analysis” is part of Digital Map Products’ Best Practices Series, a collection of articles intended to share industry insight, increase product knowledge and help readers benefit from advances in spatial technology.
This report on Global Fast Food Restaurants: Provides Market Size information to assist with planning and strategic decisions. Includes the necessary information to perform SWOT, PEST and STEER analysis. Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.Download