Denis

17.04.2023

1. Location, location, location

As always, location is key to the success of any restaurant. In fact, 80% of new restaurants fail within the first five years, with location being one of the primary factors. Look for high-traffic areas and consider the demographics of the surrounding area. Check out this report by Savills on the UK food service market update for more insights. Source: https://www.savills.co.uk/research_articles/229130/301685-0

2. Embrace technology

With the rise of delivery services, it's important to make sure your restaurant has a strong online presence. In the UK, online food delivery is projected to reach £8.1 billion by 2023, up from £3.4 billion in 2017. Consider partnering with food delivery apps and optimizing your website for online ordering. Check out this article by the NPD Group for more information on the impact of technology on the restaurant industry. Source: https://www.npdgroup.co.uk/wps/portal/npd/uk/news/press-releases/the-uk-online-food-delivery-market-is-projected-to-reach-8-billion-by-2023-npd-group-says/

3. Consider sustainability

Consumers are increasingly concerned about the environmental impact of their food choices. In fact, 72% of diners say they would pay more for sustainable food options. Look for ways to reduce waste and source local, sustainable ingredients. This report by Mintel discusses the growing trend of sustainable dining in the UK. Source: https://www.mintel.com/press-centre/food-and-drink/over-half-of-uk-diners-want-restaurants-to-use-more-eco-friendly-packaging

4. Focus on the customer experience

With competition in the restaurant industry fiercer than ever, it's important to prioritize the customer experience. In fact, 82% of customers say they would pay more for a better customer experience. Look for ways to make your restaurant stand out, such as offering personalized menus or creating an Instagram-worthy ambiance. Check out this article by Forbes for more information on how to improve the customer experience. Source: https://www.forbes.com/sites/shephyken/2021/09/26/youre-terminated-why-customers-stop-doing-business-with-you/?sh=5a9ebe07df82

5. Monitor industry trends

Stay up to date on the latest trends in the restaurant industry to stay ahead of the competition. For example, plant-based dining is a growing trend in the UK, with 25% of consumers reducing their meat consumption in 2020. Consider offering more plant-based options on your menu. Check out this article by The Guardian for more information on the rise of plant-based dining in the UK. Source: https://www.theguardian.com/lifeandstyle/2021/dec/25/no-meat-please-were-british-now-a-third-of-us-approve-of-vegan-diet 

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