As of December 2020, at least 110,000 U.S. restaurants have closed permanently or long-term due to the pandemic’s devastating effects.
While this number includes every type of restaurant out there, experts say the overwhelming majority of closures come from small businesses’ folding.
However, not everyone is collapsing during the crisis.
There are some emerging food chains that are growing fast, shaping the future of food service. In the “new normal” environment, new food brands that are agile and adaptive will win. Daring, trying out new menus, delivery methods, and in-store innovations will define industry standards and its future.
How is it possible to find these future food industry success stories among the hundred of thousands of restaurants, cafes and bars?
The answer is in the data.
What are the signs that a restaurant is on the right track to growth?
- Restaurants and fast food that grow to 5+ locations have proven that their working concept appeals to a broad audience, this is a strong sign that further expansion is “coming soon”.
Here are some signals that you should be looking out for to find these expanding restaurants early-on:
- Incorporating a new company is, in many cases, the first step for food-services branching out to new locations
- Adding a “Franchise” option to the business web-site
- Applying for a liquor or business license
- Announcing a new location “opening soon”
- “Hiring” or new openings for employees in new locations
- Lookout for restaurants or fast-food adding more off-premise service options:
- Takeout – a must-have for ALL food-services in today’s market constraints
- Delivery – by the food-service itself rather than by a 3rd party service
- Drive-thru– allowing people to order and take the food without leaving their car
- Pickup – Fast curb-side pickup
- Having a dedicated app or a loyalty program are indications of a business that is thinking of future growth.
An app that uses the power of customer data allows the food service company to optimize and innovate menus, communicate directly with customers, and create an experience that goes beyond food.
It is a strong indication they have bigger plans.
Close New Sales With Tarci Insights
Conducting research on your own to find tomorrow’s success stories is costly, timely, and cumbersome.
Instead, consider Tarci’s Continuous Intelligence Engine that creates dynamic SMB data from multiple online sources to provide you:
- Multiple search and filter criteria for immediate segmentation and targeting based on your “best customer” characteristics.
- Automatic segmentation and filter options to identify early growth indicators in food-services, restaurants, cafes and bars in the UK, Ireland and the US.
- Real-time SMB coverage of the biggest food-service, restaurants, cafes, and bars markets in the US, Canada, the UK, and Ireland.
- Weekly actionable prospects lists detailing the change, event alerts, and intent data in the industry.
- No integration required!
We believe in our data’s power to dramatically improve how you find new prospects and close new sales.
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