Successful food businesses are always looking for new customers. Whether they are restaurants, bars, cafes, bistros, or fast-food joints, they are always on the lookout for new markets to attract.
If you are in the food business, you are no doubt wondering what additional markets you can target with your products, your menus, and your marketing strategies.
Interestingly, food businesses have a unique challenge when it comes to target markets. Unlike other industries, there are countless potential target markets for food businesses. This can be both a good and a bad thing.
The good news is that you have a lot of potential customers to choose from. The bad news is that you cannot address everyone and so sometimes it can be difficult to determine which target market is the best fit for your business.
In this article, we will review 13 target market examples for food businesses that you could potentially go after. We’ll also give you tips on how to determine who your target market is.
So, whether you’re just starting out or you’ve been in business for a while and want to refine your target market, read on!
Target Market Examples For Food Businesses
Here are 13 target market examples for food businesses you can choose from:
- Single adults
- Families with young children
- Health-conscious individuals
- Busy professionals
- Empty nesters
- Retirees
- Students
- Visitors to a city or town
- People with food allergies or dietary restrictions
- People looking for a quick snack
- People looking for takeaway or home delivery
- People looking for a specific cuisine
- People looking for an upscale dining experience
Let’s discuss in detail the needs and wants of each of these target markets.
1. Single adults
Single adults often order food or go out to eat. They may not cook as much as people who are married or have families. They are often looking for convenience and quick service.
Single working adults also tend to have more disposable income than adults with children. This means they are willing to spend more on food, both in terms of quantity and quality. This makes them great markets for new dining experiences like those of fast casual restaurants.
This group of people will often order food online to avoid the hassle of cooking and cleaning but have the luxury of eating at home.
2. Families with young children
Families with young children want food that is affordable and kid-friendly. They may be looking for restaurants with a play area or special menu items for kids. They may also be looking for a place that is family-friendly and can accommodate large groups.
Large families are also a good target market for catering companies. If there is a family gathering involving extended family like grandparents, uncles, aunts, cousins, etc. they may choose to cater food rather than have everyone go to a restaurant.
3. Health-conscious individuals
Health-conscious individuals are interested in healthy food options. They may want organic food, vegetarian or vegan options, or gluten-free items. They may also be interested in knowing the nutrition information of everything they order.
If you are targetting this group of people, make sure to have plenty of options on the menu for healthy drinks and energy drinks as these are often high-margin items that health-conscious people are usually willing to pay for.
4. Busy professionals
Busy professionals look for quick and easy options. They may want food that is ready to eat or that can be easily taken on the go. They may also be interested in healthy options, as they often do not have time to cook or prepare meals.
This group of people is also a good target for lunch options. So if your food business is located in or near a business district, this is a target market you should consider.
5. Empty nesters
Empty nesters are often retired or no longer have children living at home. They may be looking for restaurants that are quiet and have a relaxed atmosphere. They may also be interested in trying new foods or exploring different cuisines.
However, empty nesters are not the same as retirees (our next segment) as they may still be working. This means they could have plenty of disposable income and would gladly visit fine dining restaurants.
So they may have similar needs to busy professionals. Also, they will be at an age where they will start becoming more health-conscious and may prefer healthy food options.
6. Retirees
Retirees often have more time to spend on activities, including cooking and dining out. They may be looking for restaurants with a leisurely pace or that offer a variety of activities. Like empty nesters, they too can be interested in trying new foods or cuisines.
However, retirees often have a fixed income, which means they may be more price-sensitive than other target markets. They may also prefer restaurants that offer discounts or seniors’ specials.
7. Students
Students are often looking for affordable and quick options. They may be looking for a place to study or do homework, as well as somewhere to eat. They may also be interested in restaurants that offer discounts or student specials.
It is important to target students at the right time, which is usually during the school year. However, you should also consider targeting them during summer break as they often have more free time then and may be more likely to dine out.
Also, remember that when it comes to food options students are looking to stretch their dollars as much as possible. So if you own a restaurant, think of offering a buffet with discounted prices for students.
When done right, buffets can be very profitable.
8. Visitors to a city or town
People visiting a city or town are often looking for a place to eat that is representative of the local area. They may be interested in trying new foods or cuisines that they are not familiar with.
They may also be looking for restaurants that are popular with locals, as this can give them a sense of what the city or town is like.
Visitors, especially those on vacation or business trips, often have a higher budget for dining out and are willing to spend more on food and drinks.
9. People with food allergies or dietary restrictions
If you own a food business, it’s important to cater to people with food allergies or dietary restrictions. This target market is often overlooked, but can be very loyal to businesses that accommodate their needs.
People with food allergies or dietary restrictions often have a difficult time finding places to eat that cater to their needs. As a result, they are often willing to spend more on food that they know is safe for them to eat.
If you want to target people with food allergies or dietary restrictions, it’s important to make sure your menu is clearly labeled and that you have a variety of options available. You should also train your staff on how to deal with people with food allergies or dietary restrictions.
10. People looking for a quick snack
Everyone needs a snack once in a while and people often look for a quick snack to tide them over till the next meal.
If you own a bakery, for example, you can target people looking for a quick snack by offering a variety of pastries, cakes, and other baked goods. You can also offer coffee or tea to go with the snacks. You could even consider having a juice bar on the side. Often, bakeries tend to make the most profits on such snack foods and drinks.
Remember, as well that there is a growing market for healthy snacks. People are becoming more health-conscious and are looking for healthier options, even when it comes to snacks. This market also includes parents who are always looking for a snack for their kids.
If you own a store, you could consider carrying protein bars and different brands of bottled water as well as other non-alcoholic beverages.
11. People looking for takeaway or home delivery
This segment of the target market for food overlaps all of the above. But we can treat them separately because they have a unique set of needs.
People looking for takeaway or home delivery often don’t have the time to cook, or they may not have access to a kitchen. They may also be looking for food that is more affordable than eating out at a restaurant.
If you offer takeaway or home delivery, it’s important to have a variety of options available. You should also make sure that the food is properly packaged and labeled so that it can be easily transported.
And be sure to have a website so that people can order food from you online.
It’s also important to have a good delivery system in place so that the food arrives fresh and on time. Remember, people are often looking for convenience when they order takeaway or home delivery, so it’s important to make the process as easy and effortless as possible.
12. People looking for a specific cuisine
Often people want to eat a cuisine that they are not able to cook at home. This target market is looking for a specific cuisine, and they are willing to pay for it.
For instance, if someone wants to eat sushi, or Indian or Italian, or seafood, they could either experiment and cook at home, or they could rely on an expert and go to a restaurant or order online for home delivery.
If you offer a specific cuisine, it’s important to make sure that you are offering authentic dishes. People who are looking for a specific cuisine often know a lot about the cuisine and can tell if the dishes are not authentic.
13. People looking for an upscale dining experience
As we say with some of the earlier segments, many people like to go to nice restaurants for an upscale dining experience. They look for fine foods, the best wines, and exquisite desserts.
While many people can cook this at home, sometimes it is best to go to a fine dining restaurant and get pampered. This is especially true for special occasions like anniversaries, birthdays, valentine’s day, etc.
If you target this market, it’s important to make sure that your restaurant offers a complete dining experience. This includes offering a wide variety of dishes, an extensive wine list, and delicious desserts. You should also make sure that your staff is properly trained to provide excellent customer service.
Conclusion
So, there you have it – 13 target market examples for food that you can use for your food business.
Remember, that while this list is long, it is not exhaustive. You could create as many segments in this vast market as you want. After all, everyone needs to eat.
What’s important is to create a segment or niche in a way that you can design a menu that appeals to this segment and then develop marketing strategies to attract customers to your business.
The key is to understand your target market and what they are looking for. Once you know that, you can create a food business that satisfies the needs of your customers.