Market analysis can optimize expansion for a market, region or nationally more effectively than sales forecasts for individual sites:
- Prioritize potential expansion markets based on demographics, workforce, retail and competition
- Identify the best spots for high performing first locations
- Quantify the number of locations the market can support, balancing sales potential against encroachment issues
- Determine whether any opportunities remain in core markets
- Evaluate the US one tract or square mile at a time to make sure no high potential area is overlooked
Market potential analysis is an efficient way of planning expansion, before you start forecasting sites.