Well-established brands in fast food franchise sector rely majorly on location, they prefer high footfall places. You can find out best location by focusing on following concepts:
1. Competition: The fast food industry is growing at rapid rate; every year new players enter in different parts of the world. Before finalizing any location for store set up, it is essential to check existing competition.
2. Customer income: India is one of the largest markets in the world; market segmentation can be done on basis of income level. For example people with high income level spend more amounts in fast casual restaurants to quench their hunger. Young generation want to experience western cuisines in quick service format.
3. Demographic profile: Needless to say, everyone not like to taste burgers or pizzas, thus demographic analysis is helpful to predict consumers taste. Data contains age, religion, marriage status, income and education level, etc. Price of products can be decided on basis of mentioned criteria.
4. Easy parking: Nowadays usage of four and two wheeler vehicles has been increased; people who want to visit any restaurant struggle to find suitable parking may change their minds. Parking is also important parameter that decides success or failure of fast food franchise restaurant.
5. Know your audience: Several factors can contribute to success of fast food franchise outlet. In recent years, consumption pattern has changed a lot; consumers prefer natural ingredient based cuisines.In India, people prefer vegan fast foods so you must acknowledge their needs. It is also crucial to meet customer demand consistently and you can take feedback to improve services.
It goes without saying that fast food industry has shown unprecedented growth, you can also become part of this industry after finding best franchiser. In addition, locations underlying factor that must be considered before starting new outlet.