Menu of Success: A Data-Driven Diagnostic Tool for Ahmedabad’s F&B Industry

Abstract

The purpose of this study is to create an empirical (data-driven) model (tool) that can be used to understand a restaurant (F&B) in Ahmedabad, which is defined as a Business with a physical location. “Menu of Success: A Data-Driven Diagnostic Tool for Ahmedabad’s F&B Industry,” the project integrates qualitative insights from in-depth interviews with restaurant owners and quantitative findings from consumer survey data to identify key determinants of restaurant success and failure. It uses data from interviews of restaurant owners in addition to consumer survey data to create a list of the "Critical Success Factors" that influence restaurant performance. Using the data from the research, a framework was developed, which contained 5 core pillars: 1) Marketing & Visibility, 2) Location, 3) Customer Experience, 4) Menu Strategy, and 5) Financial & Operational Health. Each of these core pillars are then used to develop a scoring framework that will allow the restaurants to be evaluated using a scale of 0-10. The scoring model will also be converted into a practical tool (digital app, web service) that will allow for the generation of performance scores, analytical insights, and recommendations for improvement to restaurants that follow the general framework established through this model. The data analysis results show that while profitability is a component of long-term sustainability, it is also important that there are other components (such as consistency, customer satisfaction, strategic positioning, and operational efficiency) and therefore provide value to both practitioners and researchers.