With the consumer demand for healthy choices in the fast-casual dining arena growing, a cuisine with foundations in fresh herbs, lots of vegetables and seafood, cooked in broth instead of oil, is a standout. Vietnamese cuisine has long been regarded as one of the healthiest, and tastiest, in the world.
Because of all their benefits, Asian Fast-Casual Restaurants are one of the fastest growing categories in the Limited Service Sector, with an estimated growth rate of 19.4%. According to the National Restaurant Association “V’s” falls into this category, making it a great bet for high consumer demand and return on franchisor investment.
During the Feasibility phase of “V's”, the Franchise Innovation Group identified this business as "ripe" for franchising. Our team determined that the market is 'screaming' for a fast, casual restaurant that provides healthy, fresh food and an authentic cultural experience.
To better prepare this business for franchise success, our team identified several key areas of improvement before further developing the new system. First, we addressed the name. The original name was Viet Taste. Unfortunately, a name of this type is common for 'mom and pop' Vietnamese restaurants across the country, limiting opportunities for franchising, and constricting brand opportunity. After several brainstorming sessions, we distilled “Viet Taste” down to “V's”, Authentic Vietnamese Cuisine.
The next challenge was converting from a full-service to a fast-casual restaurant. We began with an analysis of the menu which originally offered over one hundred options. Today the menu offers twenty-three selections starting with appetizers, salads, build own bowls, Vietnamese classics, and a special V's kid's items. As a result of these changes, the menu is more user-friendly and while staying true to the brand by offering only Authentic Vietnamese Cuisine.
Finally, our team determined how best to streamline the ordering and delivering process. We outlined a process where customers order their meals, collect their drinks at the 'Grab n Go' station, and then runners deliver the food to the table as soon as it is ready; fragrant and steaming hot.
Franchise Innovation Group developed several impacts to V's to create a strong, healthy franchise system from the beginning.