Foodservice Concept Development

Phase One: Competitive Analysis​

• Identify direct and indirect competitors to visit

• Analyze competitors' menus to determine what items match your concept

• Perform competitive analysis on the strengths and weaknesses of nearby competitors

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Deliverables

•  Spreadsheet list of direct and indirect competitors with checklist

•  On-site visits to local restaurants of direct and indirect competitors

•  List of competitors' menu items that match your concept

• "Strength and weaknesses" document on each competitor

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Phase Two: Defining Concepts​

• Identify types of operational concepts (i.e. breakfast restaurant, café market, upscale casual, steak house)

• Develop a “vision strategy” for the concepts to include a narrative description of the concept

• Develop concepts' “value proposition”

• Develop “differentiation strategy”

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Deliverables​

• “Narrative description” document for each concept

• "Value proposition” document for each concept

• “Differentiation strategy” document

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Phase Three: New Menu Development​

• Identify and define menu items

• Refine competitors' menu items to exceed what they offer

• Identify pricing range (lowest to highest)

• Create “signature” branded menu items

• Write descriptions for each menu item

• Ideal food cost percentage analysis on each menu item
   

Deliverables​

• List of proposed menu items for each category

• List of price range within different categories

• List of proposed signature items for each category

• List of written descriptions on each menu item

• List of menu items ideal for cost percentage

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Phase Four: Foodservice Financial Projections​

• Create three to five-year performa for each concept (up to four concepts)

• Establish cost of goods percentages for food and bar

• Establish labor costs for each concept

• Establish target prime costs for each concept

• Determine seating capacity for each concept. Including Bars.

• Determine hours and days of operation for each concept

• Determine percentage of capacity for each concept based on seating count
   

Deliverables​​

• Spreadsheet with performance data for each concept

• Spreadsheet on “food cost” percentage data for each menu item by category

• "Labor cost” percentage via mock labor schedule for each concept by day and week

• "Prime cost” data in dollars and percentages with the sum of all foodservice categories

• Seating capacity for each concept (to include turns)

• Total sales for each concept based on the number of seats

• Report on projected revenue generated per customer and the average cost per ticket to serve that customer