Start with Location Research

When people hear location research they often associate it with industries such as retail, real estate and warehouses. However, location research can be implemented in any tangible product industry. For example, placing EV chargers will not be efficient and optimal if they were placed randomly therefore location research is carried out to decide where EV chargers should be installed so that they are used optimally and effectively. The same goes with a shared bicycle provider, conducting location research will illustrate the best spots to have this service available. 

Location research = understanding prospects

However, location research is not only limited to determining the location where a product should be available for optimal performance it can also provide information regarding how many units should be placed, what is the acceptable price point within the region, and who the competitors are in this region. 

And before conducting location research an effective site screening method should be put in place. Meaning that if we have 500 potential locations only the most potential location should go through extensive location research that way you will save money and time by weeding out the not-so-successful locations. 

Customized to each industry

Location research is customized to each industry or company as the selling points and focus points of one industry will be different to the other. Therefore it is important to establish the criteria that will make a location a winning or a losing location. For example, an EV charging location will take into consideration the population, pricing competition, and how many cars will pass the location where the EV charger is installed at.   

Another major point to consider is the fact that a product might not be solely a home-based business source meaning that it does not only serve the local but also the passing by, for example, taking the EV charger again as an example they do not only serve the neighbourhood they may also get traction form highways and passing traffic. 

Using models and methods

We use the multivariate statistical models and analogue method, such as stepwise multiple regression analysis for individual sites. As for networks we use gravity models which are commonly used for petrol stations and retail chains.

Why this is for you?

Why should you invest your time and money in a location research service as it will help you:

• Grow your product coverage strategically 
• Save cost by placing your product effectively by avoiding costly mistakes
• Target your selling scoop which will lower your sales cost and higher your closing rate and well success rate
• Grow to different regions, cities or countries strategically 
• It improves the ROI of a business as it indicates the efficiency of an investment 

Feel free to contact us for help we have researched hundreds of locations (prospects) and enjoy helping you become more successful