Location, as they say, is everything. Choosing the right real estate 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 — 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.
Your location requirements will vary based on the type of business you’re opening. A business 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.
Here are a few examples of factors we may look at:
Population: Look at the population data in the immediate mile or two around your proposed location. An area with relatively high population density will be convenient to 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.
Business Density: Particularly if you’re opening a franchise like PostNet that provides services to other local businesses, you’ll want to make sure they 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.
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?
Convenience: 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: The building you’re located in 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.
[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.
Interested in learning more about opening your own PostNet location? Let’s chat!