FNB Franchise & Leadership Summit: Location, Location, Location How to Find and Assess Good Sites
Presented by Stephen Walters, Director: Fernridge Consulting
Stephen has two decades of experience as a retail consultant under his belt. He was – and continues to be – involved in the expansion plans of many top retail brands in South Africa and in the rest of Africa. He is passionate about retail research and travels across the African continent to expand his understanding of these areas so that he can help retailers make informed decisions on location selection.
Tips for site selection
The first part of Stephen’s presentation was primarily aimed at prospective and established franchisors and their prospective franchisees. He started out with an analogy. Before you jump into the pool from a dizzy height, you’d make sure that there is water in the pool, and that it is sufficiently deep to prevent you from hitting the bottom.
Stephen contends that the same applies to selecting a store location. Don’t make the decision blindly. Before you sign a lease, make sure that there are sufficient customers with the right demographics in the vicinity, and that they are likely to be willing and able to purchase your product or service. This is where Stephen’s company, Fernridge Consulting, can help.