Thorough market research that creates "the perfect roadmap" is the key to launching successful new food concepts, according to Glee Hospitality managing director Abdul Kader Saadi
Saadi, whose company rolled out 18 restaurant concepts in the last five years, added that conducting a detailed "strengths, weaknesses, opportunities and threats analysis" helps to pre-empts challenges before they arise.
"While passionate belief in the concept is the driving force that can turn a dream into reality, this passion must be balanced with reality when it comes to creating a sound business plan.
"In-depth market research is needed to substantiate that conceptual assumptions are in line with market needs. Consumers do not buy what you sell. They buy what has value to them,” he commented
Speaking about Glee Hospitality's approach, he revealed “After getting a thorough understanding of the client’s requirements, we look for a gap in the market, and start our in-depth research about the concept, cuisine, location, target market and a competitive analysis.
"A proper financial feasibility plan is developed at this stage to finalise the complete roadmap.”
Glee Hospitality operates about 35 outlets and earlier this year, in January, the company said it would unveil at least five new concepts between 2016 and 2018, with a particular focus on Saudi Arabia, Kuwait, Oman and Bahrain.
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