Market Research & Competitor Analysis
Free Restaurant Business Plan Template
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Introduction
Before opening your takeaway or restaurant, take time to understand your local market. Knowing your customers, competitors, and local food trends will help you shape a stronger business plan.
Before you even open your doors (physical or virtual), you’ve got some homework to do on the market. A bit of digging will help you figure out who your potential customers are and what the competition’s up to, which will shape your game plan:
Study Local Statistics
Tap into some official data to get the lowdown on your area. The Office for National Statistics has a handy tool to find stats about your town or region (population size, demographic make-up, average salary and average household income, etc.). These insights tell you if your chosen area has enough hungry customers to keep you busy and what their tastes might be.
Check Local Trends and Competition
Scout out your council’s website for info (just Google to find it!). See if it contains market reports, planning news, or directories of existing takeaways or restaurants. Take note of how many similar eateries are nearby, what cuisines are hot (or missing), and whether the community has any cravings that aren’t being met.
Spy on the Competition (Nicely!)
Take a nosy look at other takeaways, cafés and restaurants in your patch. What are they doing really well? What prices do they charge? Read their customer reviews to sniff out gaps in quality or service that you could improve on. This isn’t about copying others – it’s about finding your unique angle so you can stand out in a crowded market.
Ready to Take the Next Step?
Starting a restaurant can feel overwhelming, but the right guidance makes all the difference. Our FREE downloadable guide walks you through every stage of the journey, helping you plan, launch, and grow your restaurant business in the UK with confidence.