WHO ARE YOUR COMPETITORS?
The best way to find your competition is with a restaurant competitive analysis: a method of competitive research that looks at your potential competition from different angles, so you can understand the marketplace — and find your place in it.
To zero in on your competitors, you’ll want to analyze both direct and indirect competitors, along with their menu items, marketing tactics, business practices, pricing, and branding.
COMPETITIVE ANALYSIS FOR NEW RESTAURANTS
If you are looking to open up a new physical location, undertaking these steps can give you the information you need.
AFTER YOU ANALYZE, STRATEGIZE!
Here are some additional steps and considerations to keep in mind:
Menu Planning: Strong menu planning will help give you an edge over competitors.
Staff Training: Your FOH and BOH staff are the face and body of your business. Keep them both happy and learning.
Optimize your tech: Make sure your restaurant is equipped with WIFI, a mobile-friendly website, online ordering partner apps, and mobile payment options.
Step up your marketing game: Make sure you are staying competitive with your marketing efforts with social media, Google Business Profile, and a consistent restaurant brand to keep your restaurant operating at its peak.