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So you want to open a new commercial outlet?
This is perhaps the most common use case that people associate with Geomarketing.
Everyone knows what the good shopping streets in a city are, but hardly anyone can tell you how good they are, or if they would really be good for the type of operation you want to open.
This work begins by calibrating expectations, we need to understand the type of store in question, its competitive scenario and which centralities could house a unit.
An important step involves comparative analysis, finding another store of the same type that is successful, preferably in another city of the same size, to capture the characteristics of the market that support its good performance.
This will provide a basis for the analysis of new commercial points, on a realistic scale for the potential development of the business.
Scale is one of the most important factors. Stores that offer everyday products, such as pharmacies and bakeries, have a limited reach.
While specialty stores, such as chandeliers and lighting or wedding dresses, have a much wider reach, but a purchase frequency can be as low as a single time in a lifetime.
Examples of projects published on Mapfry:
https://app.mapfry.com/historia/Tabacaria
Timeline
It is estimated that within a week of dedication this project may be completed.
Important steps
Project presentation (1h)
The consultant will give a conceptual presentation of Geomarketing and how it is used by various professional networks in their expansion projects.
Client-consultant alignment (2 hours)
Clear and sincere explanation of the expectations regarding the new store, making it clear if the consultant can propose alternatives or if it is only up to identify the best places.
Presentation of references from other stores with good performance in this field of activity.
Development (6 hours)
The consultant will examine the information collected and seek the standards of success.
In the first part, you will study the benchmarks of good performance, then you will look for patterns of success in the target market.
Publication of two studies:
- Success pattern
- Target market analysis
Alignment with the client (2 hours)
Debate about the main findings and definition of paths to follow.
It may happen that the target market does not have the ideal characteristics for opening a transaction of the type requested by the customer.
Opening a store in a region that doesn't support it is a risk that can cost a lot.
Well for this reason, feasibility studies are so important and if you are informed that there is no potential, you should be satisfied and that you have saved time and money on a low return investment.
In this case, the project will be completed.
If the target market happens to have minimum or ideal conditions for opening a transaction of the type requested by the customer, the alignment will discuss possible refinements, such as the desired Price, Product and Promotion positioning strategy.
With all this in mind, the consultant will begin to identify centralities in the target market and the profile of ideal locations to accommodate this new store.
Refinement (4 hours)
Development and publication of a third study, now pointing out the best options, their strengths and weaknesses, as well as the risks and opportunities they offer.
It is not part of the scope of this project to identify commercial properties that may house the new store.
This type of study serves as a guide in the valuation of real estate and can be shared with real estate professionals who will do the acquisition.
Final presentation (1h)
After this journey, the consulting staff will present the complete cycle of analysis, learning until completion.
This presentation may be recorded for consultation and subsequent dissemination.
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Additional content:
Why do stores close?
How much is Business Geography worth?
How much is a retail outlet worth?
Reference tables for Geomarketing values
Geomarketing and Ponto