Top 10 insights from the Global Restaurant Investment Forum 2017


Top 10 insights from the Global Restaurant Investment Forum 2017

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GRIF MC, James Hacon, Development, Growth and Brand Strategist offers his insights.

Delivery dilemma

This is the biggest trend in the industry right now. Whether you choose to join a major player or invest in your own peddle power, ensure you’re not reliant on it and be aware of the risks of ‘giving away your customers’.

Brand promiscuity

Consumers are increasingly shopping around – delivering against brand promise and staying consistent is key to ensuring competitors don’t steal your customers’ hearts.

Keep it realistic

Make sure brand ambitions are achievable as investors will remember the times you don’t deliver.

Know when to walk away

Decisions should be commercial, not sentimental. Closing a site is a tough decision, but failure is almost inevitable from time to time and investors understand this.

It’s all about the chemistry

Whether you’re looking for an investor or a franchise partner, make sure you’re upfront, clear in your expectations and that you share their values.

Poles apart

Food trends are a mixed bag – both health and decadence are in. It’s all about the occasion.

Instabragging rights

Customers are photographers now, so make sure your proposition stands out from the crowd without overcomplicating things. With your own content, share stories rather than just photos.

Crazy levels of competition

With fierce competition in the restaurant space, expect a five-year return on investment rather than three. Focus on building a multi-faceted lifestyle brand to drive greater awareness and loyalty.

Troublesome travel hubs

Even well-respected brands have struggled here given difficult commercials, challenging operations and deals tied up as multi-site packages. Do your homework, take advice and consider a partnership.

Have fun

It might look like glitz and glam to outsiders, but as you know it’s hard work. Remember to find the joy in what you do!

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