4 Best Practices in Site Selection

Posted by Sam Lowder on Dec 2, 2019 4:45:00 AM

Every day, we talk with retail companies, franchise organizations, and other businesses that want to select sites that give them the best potential for profitability and success. Here’s the stark truth: most companies have room for improvement when it comes to site selection. And as we all know, hindsight is 20/20. It’s very easy to think back and wish that you knew certain things about a site when you chose it. While you should be wary of any company that promises a methodology or tool that sounds a lot like a crystal ball, there are certain things you can do to choose better sites in the future and minimize costly mistakes.

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Topics: Retail Industry, Tenant Rep Brokers & Developers Industry, Retail Site Selection, Artificial Intelligence, Analyzing Retail Sites

Choosing the Right Trade Area

Posted by Sam Lowder on Nov 25, 2019 3:02:54 PM

Throughout our many years in retail real estate research, we’ve heard businesses of all types simplify the assessment of their business’s trade area. So often, we hear economic developers and retailers describe their trade area as a certain-mile radius around a site, but in reality, there are many different ways to delineate a trade area.

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Topics: Retail Data Analysis, Retail Trade Area, Real Estate Analytics Tool, Analyzing Retail Sites

How to Get to Know Your Customer Before Choosing a Location

Posted by Sam Lowder on Nov 19, 2019 5:15:00 AM

Site selection done right requires many things, but at the top of the list is knowing your customers.

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Topics: Demographic Data, Retail Site Selection, Data Quality, Restaurant Site Selection

Site Selection 101: A Checklist

Posted by Sam Lowder on Oct 30, 2019 5:15:00 AM

Site Selection Checklist for Growing Retailers, Restaurant Chains, and Franchises

When you’re trying to grow your business through expansion, it’s essential to do so methodically and intentionally. You’ve probably heard before that even one bad location can prevent your retail business or other chain business from reaching its full growth potential—or worse, kill your business entirely. That’s why investing in site selection when you’re expanding is critical. But how do you approach the task diligently? Here’s a checklist to guide your site selection decision:

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Topics: Retail Site Selection, Site Selection Software

Site Selection, AI Modeling, and Unrealistic Expectations

Posted by Sam Lowder on Oct 18, 2019 5:00:00 AM

Maybe you’ve seen companies making bold claims about their site selection software lately.  Thousands of sites accurately forecasted…in mere seconds! If you’re wondering whether technological advancements have replaced the analyst and single-site sales forecasting, allow us to put it simply: no.    

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Topics: Retail Industry, Retail Site Selection, Site Selection Software, Artificial Intelligence, Analyzing Retail Sites

Top Metropolitan/Micropolitan Areas with Highest Health Care Spend

Posted by Sam Lowder on Sep 12, 2019 3:30:00 PM

Just as retail companies of all sizes have had to adapt in the digital era, so has the health care industry. Health care organizations have had to take a new approach to site selection, indeed, but for this data study, we’re looking at something else: the cost of health care.

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Topics: Market Data, Data Study, Site Selection Software, Health Care Industry, Analytics Solution

Who is Your Competition? Dig Deeper with SiteSeer’s Competitive Assessment Tool

Posted by Sam Lowder on Aug 28, 2019 6:38:00 AM

When many retailers build predictive models to predict sales and overall performance of a store or business location, they spend a lot of time assessing demand, asking themselves a variety of questions:

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Topics: Retail Industry, Data Quality, Analytics Solution

Site Selection in the Era of Artificial Intelligence

Posted by Sam Lowder on Aug 16, 2019 3:45:14 PM

For a long time, site selection has been a combination of art and science.  Site selection data and science became commonplace in the 1990s, but until the last decade or so, judgment, experience, and gut feel drove many retailers’ decisions about where to locate (and the reasons to do so).

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Topics: Retail Predictions, Retail Industry, Retail Site Selection, Site Selection Software, Artificial Intelligence, Analyzing Retail Sites, Analytics Solution, Machine Learning

FAQs About Drive Time Trade Areas in Retail Site Selection

Posted by Sam Lowder on Jul 30, 2019 9:30:00 AM

In early 2019, SiteSeer made major updates to our flagship software, SiteSeer Professional, including the installation of the latest version of Freeway, a third-party plugin by partner Applied Spatial Technology. Freeway provides the calculations behind the drive-time trade area boundaries you see in SiteSeer.

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Topics: Retail Trade Area, Site Selection Software, Analyzing Retail Sites

Five Tips for a Better Restaurant Site Selection Process

Posted by Sam Lowder on Jul 19, 2019 12:30:00 PM

Location, location, location. Never has the phrase been truer to a business’s success than in the restaurant business. A fantastic concept in the wrong location will underperform, or worse, fail entirely. It’s important that you be diligent in your site selection. Here are five tips on how to improve your process:

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Topics: Site Selection Software, Restaurant Industry, Restaurant Site Selection