Get a watermark-free, fully customizable competition study in our business plan for a brewpub
Stepping into the bustling world of craft beer and hospitality, understanding the competitive dynamics can be the key to your brewpub's success.
In this insightful post, we'll guide you through a detailed process of competition analysis tailored for a brewpub. We'll help you pinpoint both the direct and indirect players in the market, assess their strengths and weaknesses, and glean valuable strategies to help your establishment stand out from the crowd.
For those eager to get a head start, we've crafted a customizable competition study just for you. Feel free to explore our business plan template designed specifically for brewpub ventures.
What is exactly a "competition study"? Should you make one for your brewpub?
A competitor study for a brewpub involves a detailed examination of other brewpubs and related businesses within your competitive sphere.
This includes direct competitors, such as nearby brewpubs and craft beer bars, as well as indirect competitors, like local liquor stores or even supermarkets selling craft beer.
The goal is to dissect their strengths, weaknesses, strategies, and overall performance to pinpoint opportunities and threats for your own brewpub.
Why do brewpub owners conduct competitor studies? Simply put, it's because being informed gives you an edge.
Knowing the landscape you're entering helps you to sharpen your brewpub's unique offerings.
For example, if you find that most local brewpubs have a limited selection of beers or lack a robust food menu, these could be areas where your brewpub stands out. If you notice a gap in the market for special events like live music or beer tasting nights, these could be services that set your establishment apart.
The advantages of a comprehensive competitor analysis, similar to what you would find in our business plan template tailored for a brewpub, are numerous. It enables you to sidestep the mistakes your competitors have made and exploit weaknesses in their approach. It can spark creativity in your beer offerings, events, marketing strategies, and overall patron experience.
Additionally, understanding your competitors can inform your pricing and positioning in the market. It keeps you nimble, allowing you to adapt quickly to changes in the industry.
Should you conduct a competitor study if you're launching a new brewpub? Absolutely.
Starting a brewpub without a grasp of the competitive environment is akin to navigating without a map. A competitor study sheds light on the terrain, aiding you in overcoming obstacles and capitalizing on chances. It's a crucial element of your business strategy, establishing a foundation for a methodical approach that not only considers market entry but also long-term success.
Is a competitor study beneficial for you? Indeed, especially if you want to make savvy choices that will distinguish your brewpub. Whether it's carving out your niche, pricing your products right, or choosing the most impactful marketing tactics, a competitor study delivers the insights necessary to make those choices with assurance.
It's not merely about tracking what others are doing; it's about figuring out how you can do it better or differently to attract and retain customers.
How to conduct a competition study for your brewpub?
To conduct a competition study for your brewpub, start by collecting data on local brewpubs and breweries, focusing on their beer selection, pricing, customer feedback, and promotional tactics.
Next, contrast these elements with your own brewpub to pinpoint what sets you apart and where you can enhance your offerings or approach.
For a structured approach, we offer a tailored competition study template that you can adapt with your details in our business plan for a brewpub.
To streamline the process, here's a 10-step action plan to create a meaningful competition study for your brewpub.
| Step | Action | Details |
|---|---|---|
| 1 | Identify your competitors | List nearby brewpubs and breweries that appeal to your target demographic. |
| 2 | Examine their beer selection | Assess their range of beers, styles, and any unique brews they offer. |
| 3 | Review their marketing efforts | Investigate their use of social media, events, and collaborations to attract patrons. |
| 4 | Analyze their customer experience | Read through customer reviews and feedback to understand their service quality and atmosphere. |
| 5 | Study their branding | Look at their branding elements, such as logos, taproom decor, and merchandise. |
| 6 | Assess their online footprint | Examine their website functionality, online sales options, and digital engagement. |
| 7 | Understand their pricing | Compare their pricing for pints, flights, and growlers, including any happy hour or loyalty programs. |
| 8 | Monitor their community involvement | Observe their participation in local events, sponsorships, and partnerships with other businesses. |
| 9 | Determine their strengths and weaknesses | From your research, identify what they do well and where they could improve. |
| 10 | Apply insights to your brewpub | Utilize the knowledge gained to refine your beer offerings, marketing strategies, and customer engagement. |
What should be included in a competition study for a brewpub?
Here is a table listing 10 elements that could be part of a competition study for a brewpub.
| Name of the Element | Description |
|---|---|
| Market Position | The standing of the brewpub in the local market compared to others, including market share and brand recognition. |
| Beverage Selection | The variety and uniqueness of the beers and other beverages offered, focusing on craft and specialty brews. |
| Pricing Structure | How the brewpub prices its drinks and food, considering factors like happy hour specials and group discounts. |
| Target Audience | Understanding the demographic and psychographic characteristics of the typical patrons who frequent the brewpub. |
| Location and Venue | The physical location of the brewpub, its accessibility, and the appeal of the venue, including outdoor seating options. |
| Promotional Tactics | The strategies used to market the brewpub, including events, collaborations, and digital marketing efforts. |
| Consumer Feedback | Public perception as reflected in online reviews and ratings on platforms such as Untappd, Yelp, and Google. |
| Service and Experience | The quality of customer service and the overall experience, including brewery tours and beer tasting events. |
| Atmosphere and Theme | The ambiance of the brewpub, including its theme, music, and suitability for social gatherings. |
| Safety and Cleanliness | Measures taken to ensure a clean and safe environment for patrons, particularly in light of health regulations. |
Examples of competition studies for a brewpub
Below are three different (very concise) examples of competition studies tailored for a Craft Brewpub, a Brewpub with a Sports Bar theme, and a Brewpub with a Local Artisan Focus.
If you need something more developed, go check our business plan template for a brewpub.
Craft Brewpub Competition Study
| Competitive Factor | Description |
|---|---|
| Beer Selection | Range of unique and seasonal craft beers brewed in-house. |
| Price Range | Mid-range pricing, offering value for craft beer enthusiasts. |
| Location | Strategically located in high-traffic areas or near cultural hotspots. |
| Customer Experience | Knowledgeable staff with a passion for craft beer, offering tastings and brewery tours. |
| Ambiance | Cozy and inviting atmosphere with a focus on the brewing process. |
| Unique Selling Proposition (USP) | Exclusive brews, membership clubs, and community events. |
Brewpub with a Sports Bar Theme Competition Study
| Competitive Factor | Description |
|---|---|
| Entertainment Options | Multiple screens for live sports, interactive games, and sports memorabilia. |
| Price Range | Competitive pricing with happy hour specials and game-day discounts. |
| Location | Accessible to sports fans, often in downtown areas or near stadiums. |
| Customer Engagement | Engaging staff that creates a lively atmosphere during major sporting events. |
| Ambiance | Sports-centric decor with a casual and energetic vibe. |
| Unique Selling Proposition (USP) | Themed nights, loyalty programs for fans, and partnerships with local sports teams. |
Brewpub with a Local Artisan Focus Competition Study
| Competitive Factor | Description |
|---|---|
| Local Ingredients | Beers crafted with locally sourced ingredients, supporting regional farmers and producers. |
| Price Range | Pricing that reflects the quality and sourcing of local ingredients. |
| Location | Located in neighborhoods known for supporting local businesses and artisanal products. |
| Community Involvement | Active participation in local events, collaborations with other local artisans. |
| Ambiance | Rustic and authentic decor that highlights the local culture and craftsmanship. |
| Unique Selling Proposition (USP) | Seasonal releases, farm-to-glass experiences, and educational workshops on craft brewing. |
You can also read our articles about:
- how to fill a Business Model Canvas for your brewpub
- how to segment the customers of your brewpub
- how to elaborate a marketing strategy for your brewpub
- how to open a brewpub (guide)