If you’re familiar with the restaurant business there’s a good chance you’ve heard of “fast-casual“ discussed. This concept of a restaurant that combines casual dining and fast food is one of the most successful segments of the restaurant industry in the past 10 years. It has continued to grow even in the midst of a recession and continues to grow to accommodate the changing needs of customers as well as preferences.
The Definition of Fast Casual
A casual restaurant provides the convenience as well as convenience that fast-food restaurants offer but in a more inviting dining experience. The menu is comprised of higher quality ingredients that are located in a lot of fast-food establishments.
Chain restaurants such as Panera Bread, RedBrick Pizza and Newk’s are all fast-casual concepts. Customers can order their meals from the menu boards, much like in McDonald’s as well as Burger King, then sit down to eat their meal relaxed way, just like eating in Applebee’s as well as 99 Restaurant.
Fast Casual Restaurants Are More Expensive
Yes. Zaxby’s Fast-casual chain is based in Southeast and Texas The typical bill is $9.81. Compare this figure to the typical fast-food check which ranges from $5.00 up to $7.00. One reason why fast Casual has seen rapid growth over the last 10 years is that consumers are willing to spend more for higher quality food. This is largely driven by health-conscious customers who are aware of the health benefits of food served in restaurants.
The public is willing to pay more for food that they believe is healthier, up to a certain amount. As per the QSR, “…consumers believe that the “optimal” price for a fast-casual meal is between $7 to $7.60. The majority of consumers will pay more than $7.60 However, they also say that once lunch prices rise above around $10, they’ll take a different route for their meals.”
Opening a Fast Casual Restaurant
If you’re planning to establish a franchise of fast-casual eateries prepare to pay. A great deal. Newk’s Eatery, a small franchise that operates across the Southeast requires franchise owners to invest between $754,000 and $1,054,500. If you’re thinking of creating an independent restaurant that is fast-casual in style it is essential to begin at the beginning: menu, a suitable location commercial equipment, and financing.
Fast Casual Dining and Location
In the event that there are already a number of chains with big names, It may be more difficult to establish a business. A population-based study could aid in determining if an establishment that is fast-casual (or any restaurant for that matter) has enough patrons with sufficient disposable earnings to fund it.
There are a few methods of determining the population density in an area. One option is to conduct an area survey. Large chains and large corporations typically perform a type of site survey before beginning construction. Since a site survey could cost up to $25,000. or greater, this typically isn’t an option for anyone setting up an independent restaurant.
In the event that you do not have many thousand dollars tucked away in your account to fund conducting a survey on your site do not fret! There are many methods to determine the number of people in a certain area, and the majority of the data available is available for free. Utilize local government reports, talk with a representative of the Small Business Administration (SBA) or go to the local economic growth council to get information regarding local employment and demographic information.
Remember, when you’re thinking of opening the restaurant of your dreams, there is a good chance you love dining out. What kind of establishments do you like eating at? If you’re not one to enjoy dining in a casual and fast-paced establishment perhaps it’s not the ideal concept for you. Whatever concept of restaurant you choose the restaurant should offer outstanding food, excellent the best customer service, and a neat and comfortable environment.
