We are about to open a Lebanese Sports Cafe in a big mall in Baghdad, Iraq and we are looking to research the Lebanese and International restaurant/cafe market in Baghdad and identify our direct and indirect competitors and evaluate each. Moreover, here are some of the elements, besides the regular market analysis usual categories, that we are interested in knowing about our competitors:
- How long they've been in the market for
- Do they specialize in something or target a particular niche?
- Cuisine Type
- Concept type. Indicate if they fit the fast casual, family style, fine dining, cafe, pub, or quick service concept models.
- Market saturation. Indicate whether they are part of a global franchise, an umbrella restaurant group or are an independent restaurant.
- Hours of operation.
- Number of seats. How many guests can they accommodate?
- Restaurant services. Indicate if they offer pick-up, delivery or exclusively full-service.
- Operations Strengths.
- Operations Weaknesses.
- Operations Opportunities.
- Operations Threats.
- Menu Analysis:
- Best sellers. Is there a dish the competitor boasts as a bestseller or fan favorite? This might be indicated through a symbol or verbiage on their menu or on their website.
- Pricing. As we outlined in Restaurant Menu Ideas and Testing, perform a categorical analysis of appetizers, mains, desserts and staple dishes. For every food category, write down the highest and lowest price of items to determine the range (i.e. lowest cost for an appetizer vs. highest cost for an appetizer). Then repeat for each food category. Feel free to add columns for granular price ranges for categories like pasta dishes, salads and seafood.
- Promotional Analysis:
Current promotions, deals, and dailies.
Special events. For example: Live music, games night, Thanksgiving dinner.
CUSTOMER REVIEW Analysis:
- Ratings on review websites/blogs/apps.
- Comments and reviews on their social media pages.