Know Your Market
At first glance, most would say that the burger market is saturated, that there simply wasn’t enough room for another burger franchise. In addition to there already being thousands of burger places throughout the United States, there are also millions of restaurants, which is why it’s an industry with a high failure rate.
Oren Loni was smart. He took his time and really explored the market. Not only did he look at what was currently available, he also paid attention to consumer trends and how dining habits were changing. Based on the data he collected, he created a menu that involved small burgers. He believed that the optimal size was a 2.8oz patty.
Next, he addressed the issue of how people like different types of burger patties and how some religious beliefs make it difficult for some people to enjoy a burger. He addressed these problems by creating a variety of burger patties, making it possible for groups of people with a wide range of dietary needs to enjoy dining at Burgerim. He also ensured that each person enjoys a wide selection of both traditional and non-traditional toppings. Having all these items on hand meant spending a little more money on inventory, but resulted in better customer satisfaction which led to an extraordinarily high amount of repeat business, something all start-up companies should strive for.
Had Loni not taken to the time to really explore the market, it’s likely he would have created a generic burger that wouldn’t have become world famous.
He Didn’t Try to Shirk the Quality
It’s one thing to have a nice selection of mini burgers. It’s another to actually get people to enjoy them. If the quality wasn’t high, customers wouldn’t come back and they certainly wouldn’t recommend Burgerim to their friends.
To generate lots of rave reviews and happy customers, Oren Loni stocked the kitchen with some of the best chefs he could find and made sure they were working with tasty ingredients. Even now, with the franchise really taking off, quality is still of the utmost importance to the chain and Loni continues to look for new and exciting ways to improve the burgers.
He Didn’t Rest on His Laurels
Even before he opened the first Burgerim in 2011, Oren Loni knew he was dealing with something that was both special and unique. Something he could capitalize on. As soon as he had that first Burgerim up and running, he looked into the best way to launch a second restaurant. The desire to see what he’d built grow and expand inspired Loni to franchise his idea in the United States. Today, he remains actively involved in the running of the chain and works with aspiring owners to help them obtain the best real estate, financing, and staff for their own Burgerim.
Young entrepreneurs would do well to follow Oren Loni’s business plan when they start developing their own start-up.
