Many experts agree, though, that the answer to where you should locate is more straightforward than many entrepreneurs make it. "You're able to get to a Memphis restaurant within 10 minutes." Look Your Competitors in the Eye "What we've done in Vegas is gone to each corner of the city," says Silva, who says the restaurants' sales have grown 25 percent over last year's, with 60 percent growth projected for 2004. With three other locations now up and running, one of them inside a casino, the founders seem to have found their groove. But it did require more of an effort to establish a presence. That's not to say it was a bad location-Silva says it fit in terms of the restaurant's theme. "We opened our first business in the middle of nowhere, and we had to work to get people to go to it," says Silva. Carlos Silva, co-founder of Memphis Championship Barbecue in Las Vegas, learned all about finding a good location when he and his three co-founders (Dick Hart, Mike Mills and Dan Volland) opened their first restaurant in 1994. You'll also want to look at both highway and foot traffic. In addition, you should look at neighborhood traffic generators, such as other retailers that draw people to the area, industrial or office parks, schools, colleges and hospital complexes. "Get a demographic overview of the area you're looking at-age, income, households, etc." "Do your due diligence," advises Michael Rodelle, director of real estate for the Papa Gino's Inc./D'Angelo Sandwich Shops franchise, based in Dedham, Massachusetts. Adds Dickey: "For a price, a retailer can ask such questions as, 'If I'm looking to add a store to a particular market, what's the optimum level of traffic as it relates to the specific targeted trade area? What is the overall type of traffic? Once consumers are in the store, is there any way to measure the traffic patterns in the store?'" ![]() There are, for instance, sophisticated location analysis tools available that include traffic pattern information, demographic and lifestyle data, and competitive analyses. Making these determinations can be as simple or as complex as you make it. ![]() ![]() "Careful determination of new sites is critical for most retail and consumer service businesses." Check Your Demographics "In the brick-and-mortar retail world, it's said that the three most important decisions are location, location and location," affirms Irene Dickey, a lecturer in management and marketing at the University of Dayton's School of Business in Dayton, Ohio.
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