Originally published in the Aaron Allen & Associates newsletter on 03/11/2024.
In a sector where change is the only constant, staying ahead requires not just hard work, but smart work. This is where the true value of partnership comes into play. Navigating these complexities alone can be daunting, but remember, even the most seasoned captains sometimes need a compass and almost always employ a great coach.
Asking for help is not a sign of weakness, but rather a strategic move towards strength and resilience.
Our firm, with its deep expertise and global reach, is not just an advisor but a collaborator, dedicated to elevating your business to new heights.
Restaurant Advisory Services: Seven (7) Areas in Which We Are Helping Restaurant Chains
1) Corporate Intelligence
2) International Expansion
3) Menu Innovation
4) Mergers and Acquisitions
5) Strategic Plans
6) Restaurant Sales-Building Strategies
Jump-Start Revenue | Marketing Audits and Program Assessment | Brand Audit and Strategy | Strategic Marketing Plans and Budget Allocations | Go-to-Market Strategy for Restaurant Suppliers | Promotion Ideation | Menu Strategy
7) Margins Improvement
Labor Productivity Enhancement | Food Cost Optimization (with sustainable strategies) | Diligence Yourself (unlock and create improved performance and profitability)
Recent Insights From the Aaron Allen & Associates Library
Find below some of this week’s key insights for the global foodservice industry.
Restaurant Chains Going International
There have been recently several announcements for restaurant chains growing with international expansion. Over the next five years, emerging and developing regions in Asia, Africa, and the Middle East are forecasted to exhibit the fastest GDP growth rates globally. With the restaurant industry largely growing in pace with GDP (plus subject to a few other factors), it’s no surprise many global players are investing in seeding these markets.
Established local players will face increasing competition but also have an opportunity to keep their brand in the lead and bring processes and systems up to the highest standards.
Restaurant CEOs Bullet-Proof Their Plans
Heavy is the crown for restaurant owners and foodservice executivesthese days. Boards, rightfully so, are asking questions that require new agility and muscle flex.
What should we do about CAPEX?
How is OPEX changing?
Where should we be making tech investments?
Where is the growth going to come from?
And many, many more…
Those Who Are Not Growing Fast Are Dying Slowly
The chicken segment is one of the most dynamic and competitive among the large restaurant chains in the U.S. And while Chick-fil-A continues to dominate and Popeyes is taking over the #2 in the rank, there has been significant movement in the rank among other mid-size leading chains over the last ten years.
It goes to show that in the restaurant industry, you can never rest. Leaders are waking up to the realization that if they’re not growing fast they’re dying slowly.
Outgrowing and outsmarting your competitors requires using the power of long-term thinking.
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