Are You a Favorite or a Frequent?

Casual dining establishments must choose an identity to keep traffic flowing.Pressures from minimum wages, ever-increasing price competition, traffic declines, new and evolving consumer behavior have created immense challenges for the restaurant industry, most pointedly in casual and dining quick service segments. What used to be prime location – near a mall or major shopping center -- has become for some restaurants a death knell, and the popularity of delivery services has created competitors unimaginable just ten years ago. 

As we settle into the winter lull, casual and quick dining establishments need to think carefully about their strategy for 2020 and beyond. Traditional discounting and promotions can help combat season-specific shortfalls, but in our experience at Carl Marks Advisors, it’s critical that these restaurants address the wider industry challenges by making a definitive choice about the specific tactics used to target the type of customer they wish to…