Instead of endless market research, copy where your biggest competitor succeeds. Burger King and Wendy's built empires by opening across from McDonald's, using a proven playbook. Launch fast, reduce risk, and add your own twist.
What is the Burger King method? Burger King and Wendy's don't do any market research before they actually go in and put in a new location or new franchise. What do they do instead? They literally let McDonald's do all of the research, do an entire build-out, and then they'll go buy a restaurant location literally immediately across the street or within a half-mile radius of that McDonald's or closer. I see so many business owners all of the time that get stuck in the weeds of trying to figure out product market test. Is it product market fit? How do we actually price point? What does all these things look like? That's fantastic. I'm not saying not to think about those things, but don't let those things keep you from doing what you should be doing, which is actually generating revenue and sales and actually launching your product or service. If a competitor is doing something right now that is working, and you know it's working because they've been either doing it for a long time or you've seen a significant consistent push from them, you can actually take that exact same process, apply it to your product or service, and you can actually go to market with it and launch it immediately instead of trying to reinvent the wheel and do something completely brand new. Don't reinvent the wheel. Be a Burger King. Throw your restaurant up across the street from your competitor. Do something a little bit different but put your own spin on it. You'll make a lot more money and make make it a lot faster.
