The Importance of Market Insight: Expanding a New Branch in Famous Tourist Destination

In recent years, the trend of healthy living has been on the rise, especially among urban dwellers and tourists visiting Bali. As one of the world's leading tourist destinations, Bali is not only known for its natural beauty but also for offering a variety of culinary options that support a healthy lifestyle. Tourists and locals interested in healthy eating, organic living, and health awareness create opportunities for the culinary industry that focuses on providing healthy food.

The Story

A healthy food restaurant is present to provide healthy and nutritious food in Bali but facing tight competition from other restaurants with a similar concept. To expand the business and increase customer loyalty, a healthy food restaurant plans to open a new branch in one of the most famous tourist destinations in Bali which is Uluwatu. Because of that, they approached Monica & Co Business Advisory to ask help to analyze the opportunity to expand a new branch of their healthy food restaurant in Bali.

To solve this problem, Monica & Co Business Advisory tries to structure the business problem and decide market research objectives in order to solve this problem. Not only that, we also did a thorough analysis, such as market analysis, consumer analysis, and competitor analysis. Market analysis provides an overview of how the healthy food restaurant market in Indonesia especially Bali works, market size, market segmentation, market trend, estimated revenue that can be obtained by a healthy food restaurant, as well as the challenges and opportunities that exist. Consumer analysis provides an overview (demography and psychography) of a healthy food restaurant customer targets, pain points, and their needs. Meanwhile, competitor analysis provides an overview of competitor products, services, and their marketing strategy.

Our Approach

From our analysis, we find out that the market size of the food & beverage industry in Indonesia is IDR 853.176 billion in 2023, with an annual growth prediction of 4.9% from 2022 to 2026. This proves that the F&B industry in Indonesia is a promising sector for investment. According to data from the Central Statistics Agency (BPS) in 2022, there will be 10.900 F&B businesses in Indonesia, showing an increase of 20.76% compared to 2021.

Monica & Co Business Advisory also gives some insight regarding healthy food restaurant opportunity in Bali that can support they expansion plan run smoothly which are:

• We find out that Bali is a promising province for the development of the F&B industry, especially healthy food because consumers in Bali generally have a healthy and active lifestyle. They often visit yoga studios, gyms, or participate in outdoor activities such as surfing and hiking.

• Areas in Bali such as Jimbaran, Kerobokan, Uluwatu, Sanur, Canggu, and Ubud are ideal locations for the business expansion or new branch of healthy food restaurants. This is because these areas have a demographic of middle to upper-class consumers in terms of income and uphold a lifestyle that values wellness. This makes the food from healthy food restaurants well-received by the local residents in these areas as well as tourists.

Last but not least, we also give some advice in terms of marketing strategy if they decide to expand to a new branch based on our competitor analysis research. Some marketing strategy that we give such as:

• First, they can collaborate with influencers or Key Opinion Leaders (KOL) to boost their brand awareness. KOL can visit and review their new branch start from location, foods, drinks, and ambience.

• Second, they can give special offers or discounts on big national days such as Eid Mubarak and Christmas to gain attention from potential customers.

• Lastly, they also can create websites that contain information about menu, pricing, location, and contact for reservation.

After gaining important insight regarding the healthy food industry and new branch marketing strategy recommendations from Monica & Co Business Advisory, a healthy food restaurant hopes they can open their branch restaurant in a famous tourist destination successfully and can create a memorable experience for their customer.

The Impact

*We take our clients' confidentiality seriously. While we've changed their names, the results are real

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