Thinking About Franchising Your Business or Adding Additional Units?
Whether you are an established franchisor or you are a successful business thinking of franchising, GeoWize can help you plan your growth strategy to insure success.
Tap Into Location Intelligence to Drive Your Business Success
Choosing the best location for your business is one that guarantees that you will achieve customer and financial objectives. Location Intelligence from GeoWize enables you to identify unique geographies for capturing market share in the Business to Consumer (retail and site selection analytics) business model. The goal of location intelligence is to select the best “geographies of optimal opportunity” by providing custom analytics based on your “Success Factors.”
Don’t make costly mistakes that can’t be undone! Choosing the wrong location can be disastrous.
Geographic Information Services (GIS) Steps:
- Define the elements of your business that make you special and sets you apart from the competition.
- Analyze why you are successful in your current location with the My Business Market Profile:
- Identify Customer Profile
- Define Trade Area and Identify Demographic and Socio-Economic Profile of Area
- Analyze the Competitive Landscape
- Look for Feeder Businesses
- Understand Expenditure Patterns
- Look for other areas that match that profile.
- Make a Go/No-Go decision
Franchising Your Business – Franchisor Support Services
When a small business achieves success, one of the next steps in their growth plan may be expansion. One proven method for expansion is franchising. Franchises come in all forms: Business to consumer, business to business, and hybrid companies that serve both consumers and businesses. There are franchise restaurant chains, plumbers, sewer drain cleaners, junk removal companies, maid services, print & copy, printer ink, computer repair, sign, and tire shops, just to mention a few.
Franchisors have a number of business requirements that can best be addressed by GIS, and GeoWize has a long record of supporting franchisors with GIS analysis and data:
Franchisee Territory Design
Each franchiser has their unique formula for territory design:
- Population or household count thresholds
- Retail category expenditure levels
- Educational attainment
- Customer profiles
- Ethnic makeup
- Natural, political, & geographic boundaries
GIS is the right technology for providing the analysis needed to design custom territories to your precise specifications for your franchise. Once the territory is designed to your satisfaction, GeoWize provides the maps and exhibits that are required for the franchisee contract.
Let us help you find the most profitable location!
When a franchise only has a dozen or so units keeping track of the assigned territories is pretty easy. But, as the franchise grows the hundreds, or even thousands, of units, keeping track of the territories becomes an impossible job. Additionally, it is necessary to guarantee that the franchisee territories do not encroach on each other. GeoWize has the tools and expertise to manage and maintain your franchisee territories to keep you out of hot water with your franchisees.
Retail Site Selection Criteria
The key to good retail site selection, is matching your business to a set of criteria. These selection criteria can take several forms:
- Lifestyle Profiles
- Expenditure Patterns
- Feeder Businesses
- Are you a retail or wholesale (B2B) business?
- Traffic Counts
- Ingress and Egress
- Site Esthetics
- Facility Suitability
Retail Site Selection Criteria Pricing
One important factor for site selection criteria is pricing. At GeoWize, we work closely with commercial real estate agents to locate a facility that the business can support profitably. Based on your business plan, you have to ask yourself, “Will this site support our target sales goals?”
Supply and Demand for Site Selection
When choosing a site, your competition is an important factor for any given location. We analyze the gap between supply and demand. You may have a location with a high demand for your products, but if there are already many competitors in that location, you may be better off with a location that has lower demand but fewer competitors.
At GeoWize, we work with you to develop a successful site selection criteria model before we ever begin the data collection process.
If you have questions about this process, or you would like to explore the best options for your retail franchise site selection, GeoWize can help.
Call us at (303) 731-1416
Let us help you find the best location for your franchise!
Sometimes, a franchisee unit is just not making it. By profiling your customers, analyzing the unit’s trade area, and finding where the prospective customers are located, and how to connect with them to bring them in your front door is the key to a unit’s rehabilitation.
GeoWize has worked with Big O Tires, Vom Fass, Smiling Moose Deli, and many others in supporting business expansion plans.
Find out how GeoWize can support you & your franchise expansion plans. Get a free estimate today…