The hospitality sector can be rife with competition, with both direct and indirect rivals fighting for customers. However, there are ways you can stand out from your industry competitors to become the go-to restaurant in your city.
Know the Market
If you are an Italian restaurant, your direct competitor will be another Italian restaurant, whilst your indirect competitor could be the Turkish restaurant at the bottom of the street; however, both will prevent customers from stepping through your doors. Try to identify your direct and indirect competitors, monitoring their marketing campaigns, learning from their mistakes and taking inspiration to better their services
Quality Counts
The best way to compete with your rivals is by outperforming their services. From the customer service experience to your kitchen equipment, aim to provide the highest quality service to boost productivity, value and customer satisfaction. The best kitchen supplies will ensure your chefs can create dishes on dependable, clean and safe appliances, delivering delicious meals that will wow your customers time after time.
Spot a Gap in the Market
If you are considering launching a new restaurant, take a walk around the city to see what the local eateries are offering the public. You could spot a gap in the market that other restaurants are unable to fill. For example, you may stroll through a business district and identify the area needs a faster food service, which will be appealing to workers hoping to grab a quick bite to eat on their lunch.
Pick the Perfect Location
It probably would not be a wise idea to open a family restaurant in a business quarter, because you might be left with many empty tables. Create an establishment aimed towards the area, because the area will not change for your restaurant. So, a pizza restaurant could be the perfect addition to an area close to a student campus. The destination you choose will also determine the price of the dishes on your menu, as well as your branding.
Create a Unique Selling Point
What does your restaurant offer than a competitor does not? If you can’t think of anything, you must develop a unique selling point (USP). Let’s use the pizza restaurant example again. For example, two direct competitors could both provide pizzas, but the one that provides delivery services will more than likely make more revenue.
Adapt to the Competition
Every restaurant will face competition from new restaurants at some stage; however, it is how you adapt to your rivals that will determine your establishment’s success. For example, if a newlow-price pizzeria starts to rival your Italian restaurant, you should market the fact you use the highest quality ingredients to deliver the freshest pizzas in the area.
So, if you want to stand out from the competition, learn more and adapt to your rivals, spot a gap in the market, use the highest quality equipment and create a unique selling point that will bring customers through your restaurant’s doors.
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