7 steps to success in a changing restaurant environment

7 STEPS TO SUCCESSIn a Changing Restaurant Environment

Whether you’re big or small, franchise or corporate, public or private, there’s always

someone who’s going to hold you accountable for the growth of your

restaurant brand.

PREPARING FOR SUCCESS

With these 7 steps, in which technology and analytics play key roles, you can increase sales while driving development and steady growth.

Step 1:

Know Your Customer

Understanding your customers through customer profiling provides the most solid foundation for: • market planning • site selection • marketing operations • franchise territory development

Analyze Your Market Potential

Step 2:

How can you tell if a market is completely saturated or if there’s still

room for you to grow there?

Combine the customer insights from your customer profile with technology that pinpoints the areas that have the greatest

number of your “best” customers.

From there, you can assess how many more locations you can support market-by-market.

Step 3:

Prioritize Markets for Expansion

After identifying which markets offer the most potential based on where the greatest number of potential customers live…

Prioritize which metro areas to focus on first based on relevant success factors – like the level of competitive pressure.

Step 4:

Develop Trade Areas

By defining an accurate trade area around each of your locations, you can capture all of the sales potential without over-saturating the market.

Forecast Restaurant Sales

Step 5:

With the right technology, identify how many core customers live in a specific trade area to quantify the value of each customer in terms of dollars. Once you know what a household will be worth to your restaurant, you can forecast the top-line revenue that the location will generate.

Select Restaurant Site Locations

Step 6:

Knowing how people spend their money and live their lives is

required when finding the right site location.

With the proper analytics solution, you can map out every potential household that looks like your best customer to

find the areas that have the largest concentrations of them – meaning you’ve discovered fertile ground for new

locations.

Step 7:

Increase Year-Over-Year Sales

Positive same-store sales are driven by 2 primary elements: • Increasing frequency of

purchase• Expanding the customer

base

By understanding their customers, operators can create the perfect strategies in terms of:• Pricing• Targeted promotions• Marketing • Menu offerings

By using customer analytics, restaurants can develop detailed customer profiles that will give them a wealth of knowledge they can use to: • Prioritize markets for expansion• Open more successful locations• Increase year-over-year sales• Understand growth potential

The Bottom Line

Want more?Take a look at the full report on the 7 Steps to Success in a Changing Restaurant Environment now.

ABOUT BUXTONSince 1994, Buxton has been giving restaurant executives the tools they need to truly define and locate their target audience and the ability to make more informed, data-driven decisions for site selection, marketing strategies and territory development.

GROW WITH US. 1-888-2BUXTON | www.buxtonco.com