As limited-service restaurants plan growth for 2017, QSR released their annual growth report- a list of the 40 hottest markets ripe for expansion in the segment according to some of the top brand executives in the industry.
With challenges like lack of brand recognition, QSR companies are finding new ways to engage a new customer base when entering a market.
"As the nation's largest "take 'n' bake" pizza brand, consumers in new markets often have little, if any, experience with our product, and those consumers sometimes expect us to be selling cooked pizza like every other pizza place," said an executive for Papa Murphy's. "We see a lot of opportunity for consumer education and sampling."
When weighing competitors in in new markets, Papa Murphy's considers an influx of pizza brands as indication for demand rather than oversaturation, but recognizes that competition creates real estate challenges. Papa Murphy's has found success highlighting their brand differentiators to help the company grow in to new and growing markets.
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