How to Profit From Site Seeing

 How to Profit From Site Seeing

Brad Fishman, CEO of FishmanPR, offers tips for site selection in international markets

Every business owner recognizes this simple truth: the greatest brand and concept in a poorly selected location is set up for failure. The same holds true when you expand internationally. Strategic site selection is the best way to set a new location up for success, whether it’s in a small Midwestern town or a bustling destination overseas. Here is what you should keep in mind as you conduct site selection in an international market:

Review your data

To determine the best site for your business, you must know why your customers visit. For example, if customers are largely coming in during their lunch breaks, you know you need to be close to a business district or industrial park. Gather and analyze your potential customers’ lifestyle data and see how it differs from your U.S. customers. Then, let this guide you as you develop a profile for your ideal site.

The same goes for traffic patterns, population density and local competitors

Do your research on how local people live, how they travel and where they spend their money – and make sure your data is up to date. Scour the Internet, talk to local brokers and check out real estate news to get a solid sense of commercial development in the area.

Franchisors and franchisees should work together closely during this stage to take full advantage of the franchisor’s connections and resources. More mature franchise systems should consider adopting a customized geo-analytics system to synthesize all your customer data and deliver predictions for where your concept would be the most successful. These systems can help reduce guesswork, improve future development plans and increase franchisees’ confidence.

Negotiate with confidence

Once you’ve crunched the numbers, it’s time to secure the best possible site. Get familiar with any local rules and regulations that you’ll have to navigate. These could deal with zoning, traffic circulation, store layout, storm water or landscaping. Don’t get caught unaware once you commit to a property.

Then, hit the pavement.

If there are existing tenants in your prospective sites, speak with them. If possible, drive by sites to confirm their visibility, accessibility and traffic flow. To inquire about a property, cut out any middlemen and call the leasing agent directly. You should first call the agent for your least desirable site, and then work your way up to your most desirable. That way, you’ll be more confident and better-informed when you’re discussing your best prospects. Have agents send information via email before you tour any properties, and avoid giving specifics about your budget or level of interest.

Lastly, don’t get impatient or be blinded by a “great deal.”

Give yourself at least six months to select a site so you don’t end up going with a subprime spot in your effort to stay on schedule. Remember – a great location is better than a low rent payment. If you have to wait a few months for an excellent site to turn over a tenant, so be it. Site selection can make or break a location, but don’t let this overwhelm you. With data-driven insights and a deliberate selection strategy, you can find use site selection to propel your business’s growth.

Global Franchise Meets.

An inspirational new web video series where we meet the business leaders and influencers in International Franchising.

you may be interested in

franchise directory

  • TaxAssist Accountants

    Business & Professional Services, Financial Services, <100K, Featured

  • Cafe2U

    Food & Catering, Coffee, Take-away, <100K, Featured

  • 800 Pizza

    Food & Catering, Fastfood, Pizza, Take-away, Featured

view more
Connect with Linkedin Logo
Global White Logo Click Here
Close button

WHAT DO WE USE YOUR INFORMATION FOR?

Any of the information we collect from you may be used in one of the following ways: To personalize your experience (your information helps us to better respond to your individual needs) To improve our website (we continually strive to improve our website offerings based on the information and feedback we receive from you) To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs) To process transactions your information, whether public or private, will not be sold, exchanged, transferred, or given to any other company for any reason whatsoever, without your consent, other than for the express purpose of delivering the purchased product or service requested. To administer a contest, promotion, survey or other site feature To send periodic emails The email address you provide for order processing, will only be used to send you information and updates pertaining to your order. Note: If at any time you would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email.

HOW DO WE PROTECT YOUR INFORMATION?

We implement a variety of security measures to maintain the safety of your personal information when you place an order or enter, submit, or access your personal information We offer the use of a secure server. All supplied sensitive/credit information is transmitted via Secure Socket Layer (SSL) technology and then encrypted into our Payment gateway providers database only to be accessible by those authorized with special access rights to such systems, and are required to keep the information confidential. After a transaction, your private information (credit cards, social security numbers, financials, etc.) will not be stored on our servers.

DO WE USE COOKIES?

Yes (Cookies are small files that a site or its service provider transfers to your computers hard drive through your Web browser (if you allow) that enables the sites or service providers systems to recognize your browser and capture and remember certain information. We use cookies to help us remember and process the items in your shopping cart, understand and save your preferences for future visits, keep track of advertisements and compile aggregate data about site traffic and site interaction so that we can offer better site experiences and tools in the future. We may contract with third-party service providers to assist us in better understanding our site visitors. These service providers are not permitted to use the information collected on our behalf except to help us conduct and improve our business.

DO WE DISCLOSE ANY INFORMATION TO OUTSIDE PARTIES?

We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.

THIRD PARTY LINKS

Occasionally, at our discretion, we may include or offer third party products or services on our website. These third party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.

CHILDRENS ONLINE PRIVACY PROTECTION ACT COMPLIANCE

We are in compliance with the requirements of COPPA (Childrens Online Privacy Protection Act), we do not collect any information from anyone under 13 years of age. Our website, products and services are all directed to people who are at least 13 years old or older.

ONLINE PRIVACY POLICY ONLY

This online privacy policy applies only to information collected through our website and not to information collected offline.

TERMS AND CONDITIONS

Please also visit our Terms and Conditions section establishing the use, disclaimers, and limitations of liability governing the use of our website at globalfranchisemagazine.com/terms-conditions

YOUR CONSENT

By using our site, you consent to our online privacy policy.

CHANGES TO OUR PRIVACY POLICY

If we decide to change our privacy policy, we will post those changes on this page

CONTACTING US

If there are any questions regarding this privacy policy you may contact us using the information below. All correspondence relating to the Website should be sent to: Global Franchise 21/23 Phoenix Court Hawkins Road Colchester Essex CO2 8JY Email: subscriptions@aceville.co.uk