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Answer Upon - Site Location - Defining Your Trade Area, Choosing the Right Location for Success
Too much training is boring. Too much training barely raises itself above level one in Kirkpatrick's four levels of training evaluation. That is, the reaction of students; what they thought and felt about the training. Too much training ignores the learning needs of the participants. Too much corporate training spending is wasted.Adults have some simple requirements as learners. They have an expectation of being treated as an adult with respect shown for their experience and knowledge of the training topic. Even if they cannot describe what they know in the theoretical terms they are about to learn they still want their experience acknowledged. They have a need to share that experience with others.Above all, adults have a desire to be active participants in the learning process. They, of course, abhor boring day long presentations where presenters ask for and receive no interaction from the participants. However, they also tend to dislike good interactive presentations which
Determine how far people will walk/drive to come to your location. “Ring studies” are called that because the mapping person puts circles around around the location and calculates the number of customers and prospects that exist within each mileage band. An
Customer service and courtesy always go hand in hand. Customer service is not customer service if it is not courteous. Courtesy is usually defined as politeness originating from kindness and exercised habitually. This is what actually encompasses quality customer service. Basing from this you can actually say that the measure of good costumer service is courtesy towards customers.The Importance of Courteous Customer ServiceSo how do you practise courteous customer service? First, determine the needs of your customers. By needs, we refer not only to the needs that they will pay you for but to any need that will provide them convenience while under your care. Just take for example when you are going to a hotel.When you rent a hotel room, you primarily pay for the room, water and electricity or even food. However, the best hotels in the world are not renowned only for their rooms but for the very service that they provide. You certainly do not pay for the
Site location is part art and part science. One needs to understand the current business landscape, the demographics of the area, the traffic patterns and as much as possible about future plans for development. And, a little bit of basic math helps, too!
Basic concept: Primary Trade Area
The primary trade area is actually exactly what one might guess it to be. It is the main area that most of your customers are coming from. Depending upon the frequency of your sales cycle and the uniqueness of your products and services in the market, you make some assumptions about how far your prospects are willing to go to get to your location.
For convenience locations such as grocery stores, gas stations, coffee shops and banks, people generally don’t travel too far (relatively speaking) from their point of origin. The opposite is true for destination locations, such as specialty restaurants, theme parks, specialty clothing stores, et al. Distance willing to travel is actually a function of availability of goods and services and population density.
Translated into practical terms, a person in an office in Manhattan is more likely to get cash from the nearest ATM (within a block or two) where as a homeowner on an Iowa farm may have to travel 10 miles to get to the closest bank branch in town.
How do you determine your Primary Trade Area?
You could take a map out of your car, stick it on the wall, and throw darts, OR, you could spend a little time with a mapping package and do some neat calculations.
If your business isn’t very dynamic, you don’t need to reassess your trade area more than once a year. If you are growing, it makes sense to make mapping out your customers relative to the prospective pool of prospects a company metric.
There are lots of advanced calculations that take into consideration the competition, traffic patterns, store attractiveness and prospect population, but if you don’t have much time or competitor data, the best way to get a handle on your customers is to plot them out on a map and see where they live. Then, depending upon whether your consider yourself to be a convenience location or a destination location, you determine where the closest 50 – 80% of your customers live (or work). Use 50% if you are more of a convenience location and go out anywhere from 65-90% to determine your primary drawing area for destination locations.
Determine how far people will walk/drive to come to your location. “Ring studies” are called that because the mapping person puts circles around around the location and calculates the number of customers and prospects that exist within each mileage band. Ano
Anyone who has spent time in software development organizations knows that some teams seem to achieve superhuman productivity, and some teams just can’t seem to get anything done. I think that the ratio of productivity can be hundreds to one, no matter how you measure it. What is it about Highly Effective Teams that lets them make so much progress with so little effort? Here are some the characteristics of these super-teams. Highly Effective Teams have effective leaders – and followers Leaders of Highly Effective Teams know their team members well, and how to give their teams direction and get compliance by motivating each individual in his or her most effective way. Leaders may step aside to let a team member with more experience take the lead for a particular task. Team members are comfortable taking direction from more than one source at a time, sorting out the priorities and contradictions, and doing the right thing with a minimum of supervision.
The primary trade area is actually exactly what one might guess it to be. It is the main area that most of your customers are coming from. Depending upon the frequency of your sales cycle and the uniqueness of your products and services in the market, you make some assumptions about how far your prospects are willing to go to get to your location.
For convenience locations such as grocery stores, gas stations, coffee shops and banks, people generally don’t travel too far (relatively speaking) from their point of origin. The opposite is true for destination locations, such as specialty restaurants, theme parks, specialty clothing stores, et al. Distance willing to travel is actually a function of availability of goods and services and population density.
Translated into practical terms, a person in an office in Manhattan is more likely to get cash from the nearest ATM (within a block or two) where as a homeowner on an Iowa farm may have to travel 10 miles to get to the closest bank branch in town.
How do you determine your Primary Trade Area?
You could take a map out of your car, stick it on the wall, and throw darts, OR, you could spend a little time with a mapping package and do some neat calculations.
If your business isn’t very dynamic, you don’t need to reassess your trade area more than once a year. If you are growing, it makes sense to make mapping out your customers relative to the prospective pool of prospects a company metric.
There are lots of advanced calculations that take into consideration the competition, traffic patterns, store attractiveness and prospect population, but if you don’t have much time or competitor data, the best way to get a handle on your customers is to plot them out on a map and see where they live. Then, depending upon whether your consider yourself to be a convenience location or a destination location, you determine where the closest 50 – 80% of your customers live (or work). Use 50% if you are more of a convenience location and go out anywhere from 65-90% to determine your primary drawing area for destination locations.
Determine how far people will walk/drive to come to your location. “Ring studies” are called that because the mapping person puts circles around around the location and calculates the number of customers and prospects that exist within each mileage band. An
Typically, career choices are made based upon responsibilities, compensation, or prestige where a businessperson makes a change to get a higher salary, more responsibility, or greater prestige. What about the situation, though, where the driver behind a career choice isn't any of these; where it's the needs of a child that drive the change? My choice was precisely that.Trevor was a happy, normal, active baby. He was able to laugh, coo, cry, and do all of the other normal things that his big sister, Briana did at that age. To my wife Patty and me, everything seemed to be just fine. At about age two, we noticed that Trevor was hardly saying any words and was very into his own world with puzzles, coloring, and videos. Over the next couple of years, we took him to a speech therapist to help him with his language and also enrolled him in a special-needs preschool. During this time we noticed other peculiar characteristics for a toddler; a strong desire for structure (his preschool teach
Translated into practical terms, a person in an office in Manhattan is more likely to get cash from the nearest ATM (within a block or two) where as a homeowner on an Iowa farm may have to travel 10 miles to get to the closest bank branch in town.
How do you determine your Primary Trade Area?
You could take a map out of your car, stick it on the wall, and throw darts, OR, you could spend a little time with a mapping package and do some neat calculations.
If your business isn’t very dynamic, you don’t need to reassess your trade area more than once a year. If you are growing, it makes sense to make mapping out your customers relative to the prospective pool of prospects a company metric.
There are lots of advanced calculations that take into consideration the competition, traffic patterns, store attractiveness and prospect population, but if you don’t have much time or competitor data, the best way to get a handle on your customers is to plot them out on a map and see where they live. Then, depending upon whether your consider yourself to be a convenience location or a destination location, you determine where the closest 50 – 80% of your customers live (or work). Use 50% if you are more of a convenience location and go out anywhere from 65-90% to determine your primary drawing area for destination locations.
Determine how far people will walk/drive to come to your location. “Ring studies” are called that because the mapping person puts circles around around the location and calculates the number of customers and prospects that exist within each mileage band. An
A thing of beauty is a joy forever! This thought holds complete significance in the fashion industry. It is an exciting industry that attracts many brilliant, ambitious, creative, talented, committed and hard working people. Success in the fashion industry calls for an ultimate passion and enthusiasm to achieve set targets. The desires to create, see, explore and appreciate beauty must be inherent. It’s a creative field and one needs to possess as well as acquire certain skills that are indispensable, such as thinking creatively beyond the obvious and the ability to carve a niche in almost all the possible projects by making it different yet stunning than the previous one.Careers in the fashion industry revolve around beauty. In order to be successful in this field you should have the unquenchable thirst for beauty in its all-relevant forms. Changing fashion statements determine the change in the trend of clothing, ornamenting and above all, adopting new ways of carrying oneself.d spend a little time with a mapping package and do some neat calculations.
If your business isn’t very dynamic, you don’t need to reassess your trade area more than once a year. If you are growing, it makes sense to make mapping out your customers relative to the prospective pool of prospects a company metric.
There are lots of advanced calculations that take into consideration the competition, traffic patterns, store attractiveness and prospect population, but if you don’t have much time or competitor data, the best way to get a handle on your customers is to plot them out on a map and see where they live. Then, depending upon whether your consider yourself to be a convenience location or a destination location, you determine where the closest 50 – 80% of your customers live (or work). Use 50% if you are more of a convenience location and go out anywhere from 65-90% to determine your primary drawing area for destination locations.
Determine how far people will walk/drive to come to your location. “Ring studies” are called that because the mapping person puts circles around around the location and calculates the number of customers and prospects that exist within each mileage band. An
1. You think you need ‘Image’ or ‘branding’ advertising because that’s all the so-called ‘top guns’ use in their advertising. You don’t use direct response advertising they don’t and you’d think they know best.2. You never offer compelling benefits that cause your prospect to want to do business with you of your competitor.3. You don’t use powerful, benefit driven headlines that literally stop your prospect in their tracks and draw them into the body of your ad.4. You don’t tell your prospect what’s in your offer from them. But you do ramble on about your image, your business and what you are trying to sell him.5. You don’t talk to your prospect like you know him. You don’t get specific and don’t motivate him.6. You don’t address your prospect needs, wants and desires in your opening headlines. You’re to busying thinking about yourself or your company image! Remember, your prospect is thinking of one thing only WIIFM (What’s I It For Me?)7. Your a
Determine how far people will walk/drive to come to your location. “Ring studies” are called that because the mapping person puts circles around around the location and calculates the number of customers and prospects that exist within each mileage band. Another way to look at your customers is to ask for a drive time isochrone….that is, a unique polygon shape that follows the road network that shows you how many minutes most customers need to drive to get to your location. (Picture a city with 5 major roadways convening at the city center. A drive time isochrone might look like a star shape because people driving fast on the major roadways can get in faster than those in the more congested (and lower speed limit) side streets.
Convenience locations are generally 5 minutes or less in the dense suburbs, and can be up to 20 or more out in the more rural areas. There are more detailed ways to calculate trade areas – but if you’re looking for something quick that most people understand and won’t question you’ll get the basics straight so that you can say something like:
“70% of our customers come from within 7 miles of the store, that’s about a 15 minute drive time.”
Now what?
If you have one location, then when you are expanding you know that you have been successful with this particular location and can at least use your current assumptions to review the proposed site. If you have several locations, then classify your stores first by type, profitability, size, or other metrics, then lay out the distance and drive time data in a spreadsheet. You’re starting to build some intelligence!
Next step, buy data.
Census data is great, but it is dated. Populations are constantly changing in relation to the economy of an area. If you are serious about understanding and growing your business, don’t rely on free or cheap estimates. Spend a few hundred dollars and get what you need so that you can confidently approach the bank (or your spouse, boss, investor etc.) with information you can hang your hat on.
Here’s what I usually recommend for a good understanding of the potential for a site: Each report is about $50 depending on where you buy it from, and most of the time it is packaged so you can expect to pay between $250 - $500 for a series of site reports that you can use over and over to assess or market a property.
1. Census counts, current year estimates and five year projections for current population and current households. Include population described by segments such as Education, Home Value, Occupations, Race, Language spoken
2. Income distribution, net worth
3. Lifestyle/Lifestage assessment
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