When planning to open a restaurant business, you should have a considerable amount of knowledge about who your target audience will be. As a restaurateur, you would naturally want to serve all types of customers as much as possible, but the reality of all that is you cannot please everyone. If you try to do so, you’ll end up pleasing no one. It is important that you know what type of customers you want to focus on and just stay with that. You cannot capture 100 percent of the market. Just accept that. Instead, you can turn your attention towards the 5 or 10 percent who are keen on eating at your restaurant.
But before you think about target markets, it is also important that you have already chosen a restaurant concept because that would also play a large role in determining who your target audiences are.
Here is an overview of the different market categories of restaurant customers.
- Generation Y. This generation is the current generation. The so-called ‘boomlets’ and ‘millennials’ which would also include the people born from 1980 to 2000. Out of all the generations, Generation Y is considered as the most ethnically diverse and because of that, they have become the primary targets of the food service industry. They are also much larger than Generation X.
- Generation X. This generation would include people who were born from 1965-1980. They have strong familial values, especially with their kids. In order for you to appeal to this group, you must focus on comfort, value and ambience.
- Baby Boomers. Those who were born between 1946 and 1964. They make up the largest population and are a target for family friendly restaurants as well as fine dining restaurants because they are the ones who can afford. If you plan on opening an Indian restaurant Perth, then you should focus on this market.
- Empty Nesters. These are the people who are in their early 50s to 64. They have the highest income per capita and are often seen in upscale restaurants.
- They are aged 66 and above and are mostly seen in family friendly restaurants.