Rashays is a family owned business that has been serving Sydney residents with high quality family friendly meals since 1998. Geotech recently completed a detailed study & analysis of the Rashays network of restaurants, and the development of sales & cannibalisation forecasting models for the business.
With over 30 restaurants in the network, Roman Tepes (CEO) wanted to enhance their current capabiliites around location planning with science, and using the tools we develop to streamline the types of sites and locations currently being offered to the brand. It was becoming quite time intensive sifting through the number of lease opportunities that landlords and agents were sending, much of which was not suitable for the ideal tenancies that best suited the Rashays business.
Geotech was able to design a template, using the identified key factors driving sales performance, to provide an easy to use PDF checklist for Rashays to determine the suitability of a site before wasting time viewing floor plans or negotiating leases on properties clearly not suitable. The checklist can be completed in 5 minutes and an automated score will determine whether the site is worth pursuing or not.
In addition, if a site scores highly, Rashays can order a sales prediction from Geotech, that will assist Rashays better understand the likely sales revenue and where the restaurant would sit benchmarked against the other 30. This not only helps the business with top line revenue, it can also be of significant value to a potential franchisee that may need to secure funding if considering the site. The Geotech sales forecast will provide detailed information about the specifics of a site and will help a client better understand the strenghts & weaknesses compared with the current network.
Working closely with the team at Rashays, Geotech was able to develop a strategic network plan, prioritising new areas for growth in the markets of interest. The list could then be shared with leasing agents to help them better understand the types and size of tenancies that best suited the Rashays brand even down to specific precincts to target.
We look forward to working with Rashays on their path to growth in 2020.