Marketing research on fast food

Marketing research

Conducting marketing research when implementing a fast food business idea allows you to avoid many mistakes and financial losses. It is better to evaluate the profitability of investments in the project in advance than to try to correct the situation at the expense of additional investments later.

First of all, it is necessary to conduct a market research, study the place of the proposed opening of the institution and the existing competition.
At the first stage, it is also extremely important to determine who the typical visitor of your future establishment will be.
It is very profitable to place fast food establishments near educational institutions, bus stations, markets, parks and recreational areas. The main customers can be students, drivers, parents with children, transit passengers and so on.
Depending on the category of visitors, you need to choose both the form of the institution and the typical assortment of dishes.
It is also worthwhile, during the marketing research, to carefully check what potential competitors offer.
You should not try to base a new business on duplicating the offer, because future income will directly depend on this.
The implementation of a fast food business idea can be based on the huge variety of dishes on offer. After all, fast food, in fact, is not limited to sausages in dough, as many believe.

The main idea of ​​fast food is the speed of service and the standard set of dishes offered.

However, this set can be completely different in different establishments, which is what makes fast food so competitive. You can bet, for example, only on sandwiches. And you can offer visitors a variety of dumplings.
The main thing is not to make customers wait for a long time, otherwise they will go to competitors.
Therefore, the choice of assortment is the most important point that must be determined at the very first stage. And already based on the range, you can plan the project itself.

For example, kitchen equipment directly depends on the dishes that will be offered to visitors. And the costs of the initial fast food equipment and its ongoing maintenance also depend on this.

The initial costs of opening a fast food restaurant include the costs of equipment and the purchase of a franchise (if the project is based on it), the renovation of the premises, the purchase of furniture, dishes, an initial supply of food and semi-finished products. It is also necessary to take into account the costs of preparing and obtaining various approvals from supervisory authorities.

The current costs of the project will consist of the cost of rent and utilities, wages to employees, purchase of products, and transportation costs.

An important and rather weighty article of fast food is also constant advertising, since fast food establishments are often used by random people and travelers, so they need to be constantly informed about the possibility of a quick bite to eat in your establishment.

You can order exact calculations, in relation to specific conditions, as well as a ready-made business plan for opening a fast food establishment on our website.