Meat & Wine Co sets the standard
Seagrass Hospitality Group, the owners of Meat & Wine Co, operate one of the largest privately owned hospitality companies in Australia. Boasting a range of brands with varied food offerings that include;
- Meat & Wine Co
- Ribs & Burgers
- Italian Street Kitchen
- Hunter & Barrel
- Global trends/ global best practiceButcher & Farmer
Managing Director Bradley Michael with an extensive 35 year history engaged in high profile and successful restaurant brands in South Africa, Michael decided to relocate to Australia in 2003, bringing with him his passion, vision and The Meat & Wine Co. From Sydney he expanded The Meat & Wine Co brand to Dubai, Bahrain, Israel, Kuwait, London, Melbourne and Beijing.
In 2011, he founded Seagrass Boutique Hospitality Group starting with a support team of 3 that’s now over 1400 and growing as the business grows. Michael wants to be the most sort after hospitality group to work for by 2020.
Committed to developing and opening bespoke restaurant brands locally and globally, his creation of 6 new brands and over 48 new stores across Australia, United Arab Emirates, London, South Africa and an eye for growth in Japan and South East Asia is a testament to his success and determined spirit.
Michael excels in developing a great ‘people first’ company culture and partnering with passionate clever people. He has created clear, well-positioned customer focused brand concepts and is maniacal about matching it with above and beyond food & personal customer service.
David Ovens (Head of Marketing), engaged Geotech to provide an in depth analysis of the Meat & Wine Co brand so that they could better understand the key sales drivers for the brand and why some of the restaurants performed better than others. In David’s words, they needed to be better at looking objectively at a potential new site as at present, a lot of time & energy was being spent sifting through potential sites that didn’t really fit the key target market.
The logical fist step in a project like this is for Geotech staff to physically visit capture and document the characteristics of each of the restaurants in the network and feed the data along with other data sets we have access to (including Mastercard merchant data) to analyze which specific factors had a stronger correlation to sales performance. In other words, was the demographic characteristics of the catchment area more important that the precinct itself? If the answer was yes, then how much of an impact did this and other factors (business demographics, signage & visibility, positioning in the precincts, competition) have on the sales performance of the restaurant?
Another important consideration for the brand, was to ensure any new restaurant opened did not cannibalize sales from another. Destinational brands can be quite heavily impacted by cannibalisation if positioned too close to each other. The surrounding residential catchment has to be able to support the business, and not just cannibalize sales from the existing store. Geotech was able to map the trade (catchment) area for each of the restaurants by mapping customer data supplied by M&WCO. We were then able to determine where customers were coming from to visit each of the restaurants, then determine & quantify how much of an impact (if any) cannibalisation was having on sales peformance when the new restaurant was introduced into the network.
The subsequent report provided to Meat & Wine Co, found the brand to have a distinctly unique position in the market and a clear target market of consumers who valued food quality, the intimate surroundings of the restaurant and personlised service very highly. M&WCO patrons are prepared to seek out these restaurants not only at their place of residence, but whilst conducting business whether it be Melbourne, Sydney or Perth.
As a result of the analysis & insights provided in the report, David & the team now have a detailed strategic network plan & tools developed by Geotech, to assess potential new sites more objectively. This has allowed M&WCO to prioritise growth and seek out retail precincts that present the best opportunity for success based on the insights. In addition to the above, a sales benchmarking model was developed to forecast sales potential for any new site of interest, and provide the business the ability to assess current restaurants to continually improve performance.
The property team can now use the tools provided to M&WCO to score a potential site prior to requesting a sales forecast or a more detailed site potential report. The prioritised site selection list provided to M&WCO can also be shared with leasing agents to ensure all key stakeholders are looking at & assessing the right tenacies in the right precincts.