Future Food was engaged by Reading Property to evaluate the Hospitality offer at Cannon Park in Townsville aligned to the proposed architectural plans. The aim was to ensure that the scheme had been considered alongside a food and beverage strategy. Future Food provided an evaluation of the competitive landscape as well as a comprehensive review of the Market Potential for the site to ensure that the volume of trade was sustainable and that proposed food strategy could be sustained both in terms of $value and floor area. Subsequently Future Food made recommendations for a series of operators that were aligned to the strategy, these operators were a combination of both best practice local operators as well as new to market offers with a well aligned offer and the capability to operate in Townsville.

 Our work included a level of comprehensive research as well as trade area visits to review the site holistically.

Business of Food Highlight

• Identified the drivers behind engaging various market segments to grow Food & Beverage sales

• Calculated Market Potential using two models:  One derived from Market Share (a macro view), the other based on the Strike Rate (a micro view)

• Determined the key demographics of the resident population to unlock the latent potential of the centre

Customised Food & Hospitality Services

• Trade Area Review & Gap Analysis

• Forecast of Sustainable Volume & Market Potential

• Food & Beverage Vision, Positioning Statement & Mix