As you plan your food restaurant franchise, location is critical so consider these factors to identify the right spot to set up shop.
- Customers: Think about your ideal customers: how they live, work, shop and do other activities. Consider if you need a place by mass transit, or zoning that allows drive-thrus, or if you need to be close to a major retail destination.
- Traffic: As you go around your community, pay attention to the driving patterns to find high-traffic spots with good visibility from major roads. You’ll also want to make sure you have adequate parking and easy ingress and egress.
- Competition: Consider other restaurants operating nearby to determine if you’ll oversaturate the market. If another franchisee of the same brand is close, find out if you’re restricted from opening up another location in the area.
- Census: You may love a location, but it’s important to make sure the population in the area is big enough to support it. Not only should you do your research on the number of residents in the area, but also research how the population may change during the day due to workers.
- Space: Consider if you want a small space or large one. Or, a freestanding spot or shared space. Or, you might need lots of cold and dry goods storage space. All of these factors may impact the place your pick.
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