Introduction
The key to successfully launching a new facility or service lies in thorough market research. This includes mapping potential cities and regions, conducting demographic surveys, identifying target groups, and analyzing competitors. The goal of the research is to determine the optimal location for implementing developments and to assess expected traffic and potential. Based on this, we can define the basic characteristics of the facility to be established, such as the size of the floor area, the quantity of necessary equipment, and staffing requirements. The aim of the research is to select the best possible location for the development and to evaluate the expected traffic and potential, which helps determine the fundamental properties of the facility, such as floor area, number of tools, and staffing needs.
Demographic Analysis and Target Group Identification
One of the most important factors in location selection is examining the local population. The first step is to determine the size of the population around the city or region and its distance (usually within a 20-40 km radius). This data can be refined based on demographic factors, such as the proportion of retirees, manual workers, or university students, as certain services may be particularly attractive to these groups. Historical data can be used to determine baseline traffic expectations, such as the expected monthly traffic of the 20-35 age group, from which the total potential can be calculated.
Competitor Analysis and Distance Discounting
Competitor analysis is also an essential part of market research. The proximity of competing services can reduce the appeal of a new facility, so it is important to discount the distance and impact of competing institutions. By considering the presence of players in the same industry, the true potential of the market opportunity can be more easily determined.
Risk Analysis and Comparative Metrics
To facilitate decision-making, it is necessary to define comparative metrics that allow for the comparison of different cities. If two regions have similar potential, additional factors can be considered, such as the proximity of existing facilities or the quality of available real estate. Such complex analyses ensure that the best location is selected for opening the new facility.
With historical data and well-developed analytical methods, we can make informed decisions and optimize the success of opening a new facility.
