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Restaurant Expansion: Emerging Restaurant Markets
From The Buxton Co
The restaurant industry, like the retail industry, has recently been trying to keep up with changing consumer behaviors and technological advances in the restaurant landscape. Some restaurants are beginning to close locations or right-size their portfolios, while others struggle to innovate in order to stay top of mind with their customers. With delivery services like Uber Eats and companies like Blue Apron, restaurants are learning that convenience is king, and are working to implement these strategies into their business models.
While so many headlines today talk about restaurant closures, there are plenty of restaurant expansions at the same time. But where? You may assume the standard “hot markets” offer the best opportunities, but data shows that there are some surprising markets that offer serious potential due to factors like promising population growth and the current ratio of consumers to restaurants.
Read on to learn about a few of these markets and which restaurants specifically are seeing success there.
Emerging Restaurant Markets
Restaurant Expansions in Fresno, CA
Restaurant Expansions in Salt Lake City, UT
The Salt Lake City metro area has recently attracted restaurants such as Pollo Loco, IHOP, Iggy’s Sports Grill and Apollo Burger.
Restaurant Expansions in Phoenix, AZ
The following Phoenix suburbs offer a particularly promising opportunity that only gets better in the future:
Fogo de Chao, Freddy’s Frozen Custard, Giordano’s Chicago Style Pizza and Native Grill and Wings are all restaurants that have announced locations in these areas.
The Bottom Line
Customer analytics can help you answer your tough business questions whether it comes to selecting new markets and sites, right-sizing your current portfolio, or optimizing your existing locations.
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