If you are an enterprise that provides products or services to consumers, these GeoWize site selection packages will enable you to locate the perfect retail site.
Locate your business with GeoWize!
Please note, the images on this page link to an example GeoWize Targeted Site Selection Package. During our Live Data Review Consultation, we will guide you through understanding all of the information and applying it to your business growth strategies. Know your customers, know your trade area, know your competition.
Call GeoWize today to help with your site selection (303) 731-1416
1. Average Household Income Trade Area Site Selection Map
What is the ideal household income of your prospective customer? We can help you find out where these customers live? Entrepreneurs starting up a new business have a need to get some foundational information on prospective sites. Often times, the real-world trade areas are not known for lack of historical data. Experience has revealed that a good site selection starting place for defining trade areas is by defining three rings of 1, 3, & 5 miles around a target site.
2. Trade Area Demographic and Income Profile
Starting a new business? Consider for a moment what would happen if you opened your business in the wrong location: failure, loss of investment, bankruptcy… The first step in evaluating the potential success of a prospective location is understanding the makeup of the trade areas. With the Trade Area Demographic and Income Profile reports for the 1, 3, & 5 mile rings you will discover:
- Census 2010 Population, Households, Families. Average Household Size, Median Age and Owner and Renter Occupied Housing Units
- Current Year and Forecast Year Population, Households, Families, Average Household Size, Median Age, Owner and Renter Occupied Housing Units, and Median and Average Household Income
- Current-Year and Five-Year Forecast Annual Rates for Population, Households, Families, Owner Households, and Median Household Income
- Current Year and Forecast Year Households by Income and Per Capita Income
- Census 2010, Current Year, and Forecast Year Population by Age
- Census 2010, Current Year, and Forecast Year Population by Race and Ethnicity
Custom Trade Area Profiles are available. Do you need a 1 hour drive time map? Would you like to see how far out you have to go to hit 100,000 people, households, women, kids, money spent on recreation, etc.? We can generate custom reports based on 1500 data attributes. Call us to learn how 303-731-1416.
3. Tapestry Segmentation Profile Report – Know your Customers
This report compares the top profiles in your area, ranked by household percentage, to their national counterparts. Consumer demographics is critical to the site selection process. Use this report to:
- Define market penetration
- Compare local markets to their national counterparts
- Identify opportunities
- Discover untapped potential
- Target your best customers and prospects by geography
GeoWize profiles are built with the proven Tapestry methodology established over the last 30 years. The reports provide powerful information to better tailor your messages to America’s diverse consumer markets, identify your best markets, reach those markets more effectively, and define the products and services preferred by your consumers. Profiling helps reveal your best customers in your best markets. Use the GeoWize profiles to:
- Evaluate current and potential sites
- Target direct mail campaigns
- Use customer preferences in developing new products
- Expand sales territories
- Plan media campaigns
- Target advertising by segment
4. Dominant Tapestry Segment Map
The Dominant Tapestry Segment Map is based on ESRI’s Tapestry Segmentation and displays the primary market segment for a specified area. Tapestry Segmentation classifies U.S. residential neighborhoods into 65 distinctive market segments based on demographic and socioeconomic characteristics. The dominant segments are represented on the map by segment number. Geography is color-coded by one of Tapestry’s 12 LifeMode Summary Groups that are based on lifestyle and lifestage.
5. Retail Goods and Services Expenditure Report
This report shows the total dollar amount and average amount per household spent on retail goods and services categorized by apparel, computer, food, finance, health, and insurance. A spending potential index (SPI) compares the amount spent far a product: or service in your area to the U.S. average. Retailers can quickly identify and compare national and local customer preferences. These preferences are critical to the site selection process.
6. Retail Supply and Demand Report
Understand the scope of retail activity in your market area. The Retail MarketPIace Profile displays the retail sales and retail potential dollar amounts; the leakage/surplus factor, which measures the gap between supply and demand; and the number of businesses by industry. Use the data in this report to evaluate the potential of future sites, determine if customers are traveling outside the area to shop, and plan marketing/advertising campaigns.
Businesses that successfully understand and respond to growing consumer demands must know where to find area demand for their products and services. The Retail MarketPIace database, designed to help retailers analyze retail sales generated in a given area, shows if customers are traveling outside the area to shop and highlights retail sectors that represent the area’s biggest demand. Capitalizing on this information, retailers can make smarter decisions about site selection, product offerings, and more.
Red indicates that there is more supply than demand. Green indicates markets are leaving the area to buy these goods and services:
7. Project Goal Setting Consultation – Your Needs Identified
We want to understand your business goals. We will determine the types of information you need to achieve your business and growth targets. Project Goal Setting includes:
- Your growth plans and strategies
- Your existing customers
- Your service and trade areas
- Your geographic business considerations
- Your customer, geography and industry targets
8. Competitive Analysis Map & Competitor List
“Keep your friends close, but keep your enemies closer”; understanding the competitive landscape is critical to small business success. The Competitive Analysis Map shows you where your competitors are located, provides a key for quickly relating the symbol on the map to the intelligence information on your competitors. Different categories of competitors can even be symbolized differently for quick recognition.
The competitor list provides name, location, industry codes, estimated annual sales, & the number of employees. Deeper intelligence is available on each of these competitors for an additional fee. Ask us for a quote.
9. Feeder Business Analysis Map & Feeder Business List
Many restaurants and delis also provide catering services. Knowing where office buildings and other organizations that use catering services is important for their marketing and sales efforts. One of our retail tire customers found that if they located their store by a big-box home improvement store, then their store would be successful even if the site demographics were not optimum. The customer’s “destination” would be the big-box store, but while shopping they would drop their car off for servicing.
The Feeder Business Analysis Map shows you where your feeder businesses are located, provides a key for quickly relating the symbol on the map to the intelligence information on your feeder businesses. Different categories of businesses can even be symbolized differently for quick recognition.
10. Market Site Prospect Identification Analysis (Includes two digital large-format selection criteria maps)
Where do I start to look for my prospective business site? Most business owners start by going to a commercial realtor. A commercial realtor has an inventory of listed properties, and their objective is to put you into one of them. The GeoWize objective is to help you find THE BEST LOCATION for your business. With the Market Site Prospect Identification Analysis, first we identify the critical demographics, expenditure categories, & profiles; then we provide you with two large-format maps of the entire study area that display your target metrics at the census block level, so you can quickly visualize good target areas to start looking for available real estate.
11. Prospecting Analysis on Three Target Sites (One WizeAdvantage Gold Package for each site)
You’ve thoroughly examined the large format maps from the Market Site Prospect Identification Analysis, and you have identified a number of specific properties working with your commercial realtor. After visiting each property to verify that they meet your physical site needs (ample floor space, parking, esthetics, etc.), you want to find out which site has the best demographics, expenditure, and profile makeup. The Target Site Prospecting Analysis provides you with color-coded maps and reports to support your unique decision process, and to help you find THE BEST LOCATION for your business.
12. Live Data Review Consultation
1) During this session we will:
- Discuss the source and scope of the data
- Identify elements affecting accuracy, so you can critically judge the value of the data
- Train you in the use of the analysis tools: AutoFilters & Pivot Tables (although there may be thousands of company records, we will show you how to drill into the data to find the records that you care about in just a matter of seconds)
- Discuss the data views on the maps to help you see valuable relationships
- Discuss how the information can be used to define and implement your growth strategies
Contact us now to get started: