Monday, April 27, 2009
Ohio launches site-selection Web tool
Dayton Business Journal - by Kevin Kemper DBJ Contributor
Companies looking for real estate in Ohio are getting a helping hand from a new state government Web service. The Ohio Business Development Coalition has unveiled ohioinsite.com, an Internet-based site selection service................
Wednesday, April 15, 2009
Understanding your market competition is a critical part of due diligence. How you measure potential competing projects will impact your level of success. Accurate due diligence is an important step of the site selection process. By knowing and measuring what is in the pipeline will give you, your board or your community the background knowledge necessary to proceed.
What is the pipeline?
It is not the 1969 song by the Chantays. It is not the comic book mutant character that could teleport himself. How cool would that be?
So what is the pipeline? The pipeline for your project is simply a summary report listing the same type of projects that may compete for your market. Without getting specific or identifying clients, projects could be just about anything - hotels, restaurants, office buildings, flex space, warehouse space, bowling alleys, book stores, food stores, parts stores, farm markets, schools, residential developments. You get the idea.
Who is responsible for keeping track of the pipeline?
States and regional councils are interested in "selling" their area. Communities are interested in "selling" their town. Franchise groups are interested in "selling" their franchise. Property owners are interested in “selling” their asset. Who should you believe? Relying on one source of information to measure your pipeline of competition is not enough.
Think about it. If your goal is a successful project then who do you rely upon to measure your pipeline?
At Advance Planning Associates, LC our custom site selection program includes a due diligence component that includes measuring the pipeline that is specific to you and your market.
Friday, April 3, 2009
You know what town or city - that site selection was easy. Since you live there.
When Amy called she was excited, "We got the loan. We are ready to open."
"Where are you going?"
Amy responded by saying, "That's why I called you. There are six or seven locations downtown - which one should we get?"
"Which location do you like the best?"
Amy thought and said, " The empty store across from our church. It's always busy there."
"Yes, I'm always there for church activities. All of our family and friends are always there too." Amy responded.
"Amy, if you have already decided then go ahead, but before you do let's work on a short custom site selection program specific for your business that has an objective approach."
"Ok" Amy said, "What should I do next."
"Here are three things I want you to do before we meet."
- Observe - Go to each building and sit inside the store front window for between 11:00am and 2:00pm. Take a pad and pencil and count the number of people that pass the store. Try to guess their age and mark that down. Also try to guess the number of shoppers.
- Park - Determine where your customers can park their cars. Now get in your car and try to park in these locations during peak hours - 11:00am to 2:00pm & 4:00pm to 6:00pm. If you plan on opening for the late night restaurant crowd, you may want to try a little later in the evening.
- Walk - Get out of your car and walk. Put yourself in the position of your customer that may be walking to your store from a nearby restaurant or parking deck.
"See you in a week. Now get to work and enjoy the downtown while we put together the other criteria for you to consider."
Amy responded by saying, "I wish we would have done this a month ago."
"Me too! We don't have much time before the season starts. I'm looking forward to the drive to the beach - North Carolina is always beautiful this time of year - I want to finally meet you and visit this wonderful town of yours."
A positive attitude is a good thing. So many new store owners believe that once they open the customers will come. Let's find the best site to make sure your customers do.