Site selection is the process of identifying markets, trade areas, and specific properties for new store sites.
We divide the location problem into trade area and site evaluation.
Purpose of trade area evaluation is to determine if the market is suitable and estimate its potential value. This is accomplished by defining trade area boundaries, market sizing, analysis of demand/supply balance, and identifying level of sales leakage or surplus.
Purpose of site evaluation is to determine if a property's physical characteristics are suitable and develop an accurate sales forecast for the property. This is accomplished with site selection model that evaluates factors of store performance that drive successful sales in different types of trade areas.
One of the benefits of using our site selection model is the ability to quickly and cost effectively estimate performance potential.
With our model, you can identify sites that meet minimum criteria and improve the efficiency of searching for sites. It can also alert you to potentially expensive mistakes so you know where not to invest.
Time to complete site evaluation is between two and three business days from receipt of required background information. Once completed, we will review the report with the client.
Reports are typically 20 pages in length, PDF format.
To order your evaluation, please contact us at 727-723-9474