A start-up in the fast-casual dining industry was preparing to open its first location and needed guidance on selecting a site that would maximize foot traffic, visibility, and revenue potential. With limited experience in site selection, the client required data-backed insights into consumer demographics, local competition, and market trends to ensure their initial location was primed for success.
Thrive Analytics employed a multi-layered approach to site selection, leveraging location intelligence and demographic analysis to identify high-potential areas. We conducted a comprehensive market analysis, examining factors such as population density, income levels, foot traffic patterns, and competitive saturation. We also integrated consumer survey data to assess demand for the type of dining experience the client offered. Based on our findings, we provided a shortlist of ideal locations, each offering a balance of affordability and high market demand.
The client selected a prime location based on Thrive Analytics' recommendations, and within six months of opening, the restaurant achieved a 20% higher-than-expected revenue in the first quarter. The location's proximity to target consumer groups, combined with insights from our competitive analysis, positioned the client as a go-to spot in the area. The start-up now has a proven model to replicate as they expand into new markets.
