Pop-up restaurants are becoming more popular in the fine-dining sector and could spread to the quick-service segment.
Description
Pop-up restaurants are mini-restaurants that temporarily operate in parks, plazas, galleries, warehouses, event centers and larger restaurants. Some announce dining events just hours before they take place, and they often sell out.Opportunity
1. Easy to enter and exit to the market, making it Affordable. As the name implies, pop-ups don’t require long-term investments. Operators pay rent only as long as they occupy the space. A restaurateur might spend only a few thousand dollars a week to maintain a mini-restaurant. Small loss potential. If a concept fails in one spot, it can be packed up and closed as swiftly as it started.
2. Take advantage of underused spaces and kitchens to introduce concepts without great expense.
3. Attract investors who want to transform an idea into a full operation or another dining possibility. If the concept continues to grow, it could grow to a stand-alone operation or one that distributes packaged food.
4. Guest appeal. The millennial generation likes the novelty and creativity. With increasingly curious consumers, pop-up concepts will take flight.
5. Variety. Pop-ups are opportunities for operators to offer quick-hit innovations with frequently changing menus. A chef can operate a new pop-up for a weekend, close and open another one the following weekend.
6. Higher check averages. Because pop-ups often are exclusive, and their food often is rare or unusual, customers will pay a premium for the experience.
Challenges
1. Limited time for advertising.
2. Limited time for arrangement of seating, labor and menu design.
3. Keep it mysterious and new to customers.
4. Selling different types of food requires different type of licenses, given that pop-up restaurants keep changing the menu.
Business Strategies
1.Pop-up restaurateurs and their followers use blogs, Twitter and other social networks to inform people about the pop-ups. Some announce dining events just hours before they take place, and they often sell out.
2. Consider planning a limited-seating event in a designated area of your establishment. The event could feature your latest menu items or a special presentation by one of your chefs. Create new promotional material and signage.
3. Plan weekly or bi-weekly pop-ups in your restaurant based on what’s available at local farms or famers markets. That inspires creativity and spontaneity and keeps guests guessing what comes next.
4. Prepare a theatrical pop-up. Create an area or room in your restaurant unlike anything guests have ever seen. Take them to a different place and time, such as a foreign locale with exotic flavors.
5. Connect with a cause. For example, San Francisco’s Mission Chinese Food donates a portion of food sales to a local food bank.
6. Use your restaurant as a pop-up for others, especially when you’re closed. If your restaurant serves only lunch and dinner, offer it as a pop-up for breakfast. Someone else runs it, and you receive part of the profit.
Real Life Example
1. One of the best-known pop-up restaurateurs is Ludo Lefebvre. A native of France, Lefebvre was the mind behind LudoBites, temporary restaurants that appeared around Los Angeles for limited times. LudoBites became a smashing success that made Lefebvre a household name and proved the potential of the pop-up concept.
2. McDonald’s built its biggest and busiest restaurant ever as a pop-up for the London 2012 Olympic Games. Located in Stratford, east London, about 300 meters from the Olympic Stadium, the two-story chalet-style building was constructed to seat up to 1,500 customers and serve as many as 1,000 an hour. It stood for six weeks, and 75% of its construction materials were to be reused or recycled after dismantling.
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| An exterior view of the world's largest McDonald's restaurant, their flagship outlet in the Olympic Park Read more: http://www.dailymail.co.uk/news/article-2164517/Worlds-biggest-McDonalds-First-pictures-inside-Olympic-Stadium-fast-food-restaurant.html#ixzz3IHZqKONY Follow us: @MailOnline on Twitter | DailyMail on Facebook |
3. Starbucks opened its first-ever pop-up in Tokyo in September 2012. The pop-up serves nine coffee choices from rented event space on a small street in the city’s trendy Omotesando district.
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| The space was designed to reflect a library setting |
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