Location, as they say, is everything. Choosing the best location for your new franchise has the power to make or break your business. Feeling daunted by the process? Luckily for new franchisees, PostNet has over 25 years of experience in franchising and business site selection — so we know what works and what doesn’t. Read on for our tips on how to choose the best possible location for your business, as well as how PostNet supports its new entrepreneurs.
As a business that relies partially on foot traffic and attracting clientele through customer service interactions, having a great location for your PostNet franchise is essential. It gives your customers a place to interact with you, get to know your brand, and be impressed with your professionalism. The building itself can add a lot to those conversations, and as far as where it’s located? If there are other great businesses nearby, customers are more likely to trust that your product is of value to them.
It’s not as easy as looking at a listing and saying ‘yes.’ Let’s break it down further:
Your location requirements will vary based on the type of business you’re opening. A franchise location that’s dependent on walk-in traffic will have very different needs than one that does most of its business over the Internet or phone. When a new entrepreneur joins the PostNet family, our Department of Real Estate gets to work helping them narrow down the location search to a few suitable areas.
Beyond the specifics, we are about to get into, make sure as you embark on your business site search, that you know your budget, outline your business needs, and research everything you possibly can about the area, the people who live there, and any other competitors in the area.
Population: Look at the population data in the immediate mile or two around your proposed location. An area with a relatively high population density will be convenient for your future customers. You might also look at demographic data, such as median income and age range, and consider whether it matches up with your target customers. Some questions to ask yourselves: Where do your customers live and work? What are they looking for in terms of services? What are they interested in?
Business Density: Opening a franchise like PostNet that provides services to other local businesses means you’ll want to make sure those businesses are located nearby! Even if your customer base will primarily be consumers, it will be easier for them to find you if you’re located in a commercial area.
Business Synergy: The businesses surrounding your location can also make or break your success. Make sure you look at nearby businesses and the kinds of customers they attract because of their services. This will ensure your business is getting more visibility and traffic. Think about ways you can utilize those relationships.
Competition: Consider how many competing brands/businesses are in your area. Is the market already saturated with the products or services you plan to provide? It could be a good thing to be around other businesses that offer a similar service but do not necessarily have the ability to do the same things you can do. There is an opportunity for partnership there.
Convenience and Visibility: In addition to location, consider ease of access for your customers. Is there adequate parking available? Can customers pull up in front of the store if they need to pick up or drop off something heavy or large? Is the store accessible to handicapped customers? If you’re opening a business reliant on walk-ins, check out the walkability score.
Attractiveness: Your new franchise location will be the first impression your new customers have of your business. Consider whether the facade is in good condition and the landscaping is neat. Is the location easily visible from the street, and will it be possible to install attention-grabbing signage? All of these factors play into whether customers will find your location appealing.
Employee Satisfaction: If your location is surrounded by other great businesses and in an easy-to-get-to-spot, your employees themselves will be more happy to work for you and show up to work every day, improving the overall experience at your store.
[Want to skip the search? Check out existing PostNet centers for sale.]
At PostNet, we understand that choosing your location can be a stressful and complicated process. That’s why we offer our support and guidance every step of the way — from selecting appropriate locations to working with local brokers to supporting you while you negotiate a lease with your landlord. One of the many benefits of a PostNet franchise business model is having us there to guide you and have your back.
Interested in learning more about opening your own PostNet location? Let’s chat!
Original blog posted on September 18, 2019, content updated November 12, 2024.
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