10 Feb CREPN #79 – How to Improve Site Selection for Retail Success with Site Zeus
Site selection is a fundamental key to successful real estate investing, location, location, location! [x_audio_embed][/x_audio_embed] For retail there can be multiple reasons for failure; poor concept, product, planning, understanding who is the ideal customer, and lack of funding to name a few. But assume that these are solid. Could a poorly located business fail?
- Poor visibility
- No signs
Can site selection improve the odds of success?Hello Site Zeus. Site Zeus was created by Hannibal & Keenan Baldwin, successful business entrepreneurs who suffered some unexpected failures. When they compared the successes to the failures, there was one significant distinction between success and failure: poor site selection. How could they prevent a repeat of the failure in the future?
The answer was in the data.Today, each of us transmit data from our smartphone. Where you go, what you search for, purchases, etc. Commercial real estate has been slow to utilize the available data until now. Site Zeus uses customer profile data points, demographics, traffic and the unique points known to the success of a particular brand to help minimize the potential for a costly failure.
- What time of day do customers travel by the store?
- Do customers use the drive thru or walk into the store?
- Restaurants & Retail
- Convenience & Gas station
- local medical offices