- Does your company employ a person whose primary responsibilities include real estate site selection?
- Have you developed site selection criteria, standards, and/or guidelines?
- Have you recently completed any customer surveys and/or customer profiles?
- Do you understand the role Area, Site, and Space play in site selection?
- Are you familiar with the significance of the acronym PASTA V?
- Have you engaged in any walking and talking (boots on the ground) when conducting fieldwork?
- Are you willing to consider passing on space whose primary selling points are being vacant, cheap to lease, and, costing little or nothing to build out?
- Are you inclined to look at a variety of location options instead of confining your search efforts to previously operating restaurants in order to avoid having to spend money on building out a kitchen as well as upgrading existing HVAC, plumbing, and electrical systems?
- Have you identified the extent of your primary and secondary trade areas?
- Have you used a Site Selection Scorecard to help evaluate individual locations?
- Which 1 or 2 businesses do you typically like to shadow?
- Which 2 or 3 businesses provide you with the greatest amount of synergy?
- Which anchor stores do you typically like to be near?
- Besides demographics research, have you conducted any psychographics (lifestyle) research?
- Do you have a good understanding of your customer parking requirements?
- Do you have either an appointed Board of Advisors or Board of Directors?
If your response to most or all of these questions is “no,” you are encouraged to contact Location Decision Advisors in order to explore how we can play a key role in helping your retail or restaurant business succeed.
