Strategic Advisory Services
Our strategic advisory services category consists of the following services:
- Growth, Start Up & Roll-out Strategy
- Branding & Marketing Strategy
- Feasibility & Market Studies
- Findings & Recommendation
- Site Selection
- Owner’s Representation
Growth, Start Up & Roll Out
More growth, more success.
Whether your business is a one-unit outlet or a 100 location concept, Savvy IQ can kickstart the growth of your business, steering you towards success and profitability. Savvy IQ looks at factors such as the business concept, target market, financial needs and the company’s employees when forming a tailor-made growth strategy to its clients. It is imperative to have sound growth strategy from day one as an effective strategy plan takes risks, time, finance and other vital components resources into account for businesses. Failing to have a defined, structured, and detailed growth plan can be a catalyst to concept failure. One of our strategic advisory services we provide is the growth, startup and roll-out strategy. Our deliverable will provide concepts a know-how guide to successful growth, regardless of whether you are a startup or a well-established concept. Every concept is different and unique in its own way, and requires a different approach. There is no “one size fits all” approach in terms of growth, startup, and roll-outs. Initially, our team will assess the concept, bettering our understanding of what the concept offers as a brand and the uniqueness. We will also seek to understand the vision and goals of the concept in terms of growth. In order to seek the results the concept needs for growth, a strategic business plan is critical and will be written up and delivered by our team. We’ve help clients of big and small sizes, and our experts relish the challenge of helping yours too.
Feasibility & Market Studies
Insurance against failure.
Feasibility and market studies should be conducted during the initial stages before starting a concept. A market study is conducted in order to gather more information and analyse a specific area or location to make an informed decision of what potential concept(s) can go there. A feasibility study consists of the gathering and analysis of information to make an informed decision of a potential success of a specific concept in a specific location. Accessibility, demographics, demand generators and competitors are all crucial factors to take into consideration when implementing feasibility and market studies. These studies are insurance against failure and must be carried out accordingly to understand the risks and opportunities involved with the selected area. Omitting these studies will increase the likelihood of concept failure. Feasibility and market studies are smart investment choices before the development of a F&B outlet. The purpose of the studies is to ensure returns are maximised on the concept idea and chosen location. Furthermore, a feasibility or market study sent to the landlord can boost the chances of securing the location when acquiring a site as it shows the landlord that proper due diligence has been implemented. Savvy IQ’s experience and expertise within the hospitality industry allows us to make reliable and accurate judgements that can benefit potential concepts in the long run. Our feasibility and market studies consist of an in-depth data collection and analysis of important factors of the area such as the market area, potential competitors, and the area’s demographics. By the end of our study, we will recommend the best option to proceed to our clients. The clients at this point will be well informed of the risks and opportunities involved with the relevant selected area.
Findings & Recommendation
The consumer mind.
An outside perspective and assessment on the hospitality services that are offered can reveal issues that have been “swept under the carpet”. We believe that nothing is perfect and businesses should always strive to constantly improve. With our “customer journey” on site analysis, Savvy IQ assesses important factors such as customer greetings, sequence of service and quality, staff uniform, website and social media, ambience and décor, procedures and more. The study will assess the entire concept as a whole, from concept idea and story to operational assessment to menu offering. Businesses can greatly benefit from Savvy IQ’s findings and recommendations as it aims to tackle business limitations directly which can make it stand out from its competitors. Businesses should always focus on customer’s terms, and not those of the business. It is the customer at the end of the day that contributes to the success of the business. More customers, more profit. This is the reason why our Savvy IQ team will take a “customer journey” in the specific F&B outlet. From there we will engage in every customer experience stage, analysing and evaluating if customer service is adequate and if the customer experience is fully engaged. After the site visit, a finding report will be compiled from our team . This will explain in detail of our analysis, highlighting and explaining key areas of limitations whilst also acknowledging areas of good client engagement. The Savvy IQ team will also finalise a recommendations report after the findings report is finished.
The perfect spot.
Location, location, location. Good locations result in higher costs but doesn’t necessarily mean it’s the right location for your concept. Having the wrong location can turn a well-conceived business plan and concept into a failed one if not handled properly. Some of the determinants we take into account when assisting in finding the correct site include demographics, traffic, footfall, transportation, parking, future development, competition and more. Being on the wrong site can have a direct effect on the longevity of the concept as fewer customers are attracted hence less revenue and profit levels. For this reason, finding the right location is vital. Impulsive decisions without sound and proper due diligence might mean there are better locations elsewhere for a concept whilst having to restrict its finances due to them being “tied” with the contractual terms that have been agreed with the initial site. Committing too late may result in another competitor snatching up the perfect site. This is the reason why reliable and accurate due diligence must be implemented for such an important subject. We can implement reliable and sound due diligence. Savvy IQ knows exactly what to look for when researching a suitable site for concepts. We have developed many successful concepts in the past, and its location have played a big part in their success. Our experts will compile a strategic site plan with specific criteria formed from due diligence for concepts. We will ensure businesses have the right clientele walking through their front door.
Take work off your plate.
Let Savvy IQ act as your representative for your concept or project to ensure your objectives and interests are met in good timing and safeguarded by the management company of the property. Savvy IQ offers owner’s representation for business audits, lease negotiations, landlord meetings, conceptual meetings, architecture and design meetings, punch list inspections and tender representation. Without experience and technical knowledge, owners or representative can often find their objectives and interests are delayed, or are lost in translation. This will bring about a delay in the opening date of the concept, affecting the financial stability of the concept in the long run. Savvy IQ represents clients in all aspects of the hospitality business. Having many contacts with restaurateurs and hospitality groups, Savvy IQ has been appointed as representatives in many developments, hotels, corporate towers and shopping malls to monitor and review high-value projects ensuring that they are a successful investment. Savvy IQ offers expertise and practical knowledge to many projects, to ensure that project time frames, quality of work and effectiveness of design are all met to suit the client’s needs. We take care of these important factors by regular site visits, spot checks, audits and budget reviews.
Establish new territories.
By franchising, the brand or concept businesses are able to minimise growth risk whilst attaining expansion capital and increase worldwide brand recognition. Franchising into new territories can often be daunting and unfamiliar. Savvy IQ works with clients to tackle this matter by creating and managing a complete franchise solution for prospective or existing F&B franchisors. Services include professional representation, territory assessment, franchising brochures and documents and the creation of franchising terms and conditions. Savvy IQ experts are one of the most experienced franchise management teams in the industry. We currently have the privilege of representing Chotto Matte restaurant located in Soho as the exclusive franchise and expansion company. We can do the same for you. Franchising a company entitles a business with expansion capital whilst minimising growth risk.Management is motivated as an owner (franchisee) is substituted for a site manager. Growth of the concept becomes easier to roll out hence easier to capture a market leadership position before its competitors do. The valuation of the business will ultimately increase as it attains more outlets. However, franchising into new territories can often be daunting and unfamiliar. Savvy IQ assist with clients on this matter by creating the complete franchise solution for them. From franchising brochures,setting franchise terms and conditions to representing our clients with licensed potential or existing franchisees and more. We are with them from the start to the end.