Full-service restaurants are passé. Hybrid, fast-casual restaurants offering high quality and delicious food à̀ la carte at pocket-friendly prices are the new sweet spot of the growing economy. The master concept of fast casual restaurants is based on two most important parameters – great quality fresh food and instant service. Customers and food connoisseurs do not have to wait endlessly to be served. Plus, the most successful fast casual restaurant chains slash out table service from their itinerary and make up for the miss by providing a bright and casual atmosphere where patrons love to come and eat to their heart’s content!
The fast casual restaurant segments have been growing at a tremendous rate, thanks to the multi-fare menus that offer ‘more pocket-friendly choices’ to the customers and multifaceted growth opportunities available in the highly lucrative food business. Some other factors that have significantly influenced this food & service industry include extraordinary flavors, myriad spice profiles, superior quality ingredients, regional and ethnic influences and fresh (and healthy) inspirations.
Who will be the most incremental traffic for fast casual restaurants?
NPD Group providing a ten year forecast of food service trends based on age, population growth and emerging trends predicts that the two largest demographic groups – teens and young adults within the age group of 14-30 years and those over 55 years of age will be the single largest population comprising over 90 million customers of fast casual restaurants by the next decade!
Fast casual as a hot investment
The fast casual restaurant concept and segment has not only survived the economic downturn but has also prospered in these trying times, both in terms of sales and unit growth. What’s more – it is predicted to be the strongest growing segment over the next decade! While its finer counterparts continue to rise slowly from economic down hit, the fast casual segment has already led a precedence with over 17% growth in customer visits in the last three years and sales figures shooting up by 29% since 2006!
Fast casual restaurant is a sizzling hot concept – at least one industry where demand exceeds supply! With 41 percent of consumers broadening their idea of fast food to include fast casual restaurants, this segment is indeed a hot proposition for growth. No wonder then that the Wall Street investors, entrepreneurs, investment and commercial bankers and private equity shops are making a foray into this growing trend in a big way!
More importantly, consumer demand for fast-casual dining has not been fully met yet. As per a study conducted by Morgan Stanley, one of the main things holding back some consumers from fast-casual restaurants is simply the availability and convenience of locations.
There is still a huge demand and scope for growth in this hottest restaurant segment and MainStreet loves to associate itself with successful restaurateurs and entrepreneurs who aspire for this growth. This burgeoning segment is indeed a dining ‘sweet-spot’ and MainStreet Licensing is quite attracted to it! For the company, it’s EXPANSION TIME!
Why partner with MainStreet?
With MainStreet you can join those who have paved the way – Chipotle Mexican Grill, Pei Wei Asian Diner, Corner Bakery Café, Sauce Pizza & Wine, Smashburger and numerous emerging concepts as LYFE Kitchen, Shophouse Southeast Asian Kitchen and others – and grow your brand with a smaller footprint and lower labor, opening and operating costs and yet churn a much better cash-on-cash return on your investment as compared to full service restaurants.
Successful expansion of a fast casual restaurant requires operators to know the essentials for growth as well as enhanced customer experience at their current and forthcoming units.
Don’t do it alone, we’re here!
MainStreet has the experience and expertise in restaurant franchises growth with store level and executive operations.
We want to be the partners you choose to create the new franchise organization. We help you by:
If you have a ‘runaway hit’ restaurant concept in the fast casual segment, why not take it further from here?
We have ready processes to support multi unit local or regional growth and provide supplier contacts based on volume purchases for profitable expansion.
With MainStreet, you brand’s popularity is guaranteed to reach new markets and be the next Holy Grail Discovery of the hottest restaurant segment!MAINSTREET