China and India are perhaps the most talked-about international expansion markets for U.S.-based chains, but researcher Michael Schaefer said restaurants also should consider Colombia and Russia, among other countries.
Schaefer, who heads the consumer foodservice research group for research firm Euromonitor International, recently participated in a presentation on international development at Nation’s Restaurant News’ Multi-Unit Foodservice Operators, or MUFSO, conference.
He spoke this week with NRN about his research and what operators considering an international move should know.
Which international markets show the most potential for restaurant companies?
There is enormous potential in India. A great deal of growth is already underway there, with a large and growing consumer class. Yet there are other markets of comparable size with much higher average incomes and better-developed infrastructure.
Colombia is a market that has grown quite impressively over the last five years, yet remains somewhat under the radar. Overall foodservice outlet penetration remains relatively low compared to markets with similar average incomes. Yet several local chains — Juan Valdez Cafe, Crepes and Waffles — have done extremely well.
