When you have a business idea, it’s natural to think about where it might be best to open a new store. If your business is based around selling food, it might seem like the logical choice is to find somewhere that has a lot of hungry customers nearby.
Many businesses will follow this logic when choosing locations for their business ventures. However, with almost any type of company, location is just one factor that needs to be considered carefully before deciding on where you want your new business to open up shop. Catering to an ever-growing demand for quality fast food options, the pizza industry continues to thrive and expand at breakneck speed.
In fact, according to Technomic research from 2016, pizza is now America’s favorite prepared food segment across all eating segments – not just limited to millennials and Gen Z eaters as previously believed. As such, if you have an idea of starting your own pizza franchise, there are plenty of reasons why location matters when it comes to success.
Finding a Location Magnet in a Nutshell
Before you even think about what kind of equipment or menu items you might want to include in your business, you’ll need to start by looking at potential locations. And although this might sound like a minor detail, it’s actually one of the most important factors to consider. Why? Because the location you choose for your business will have a huge impact on its success or failure. If you choose the wrong place to open up a shop, you’ll have a much harder time attracting customers as well as hiring qualified employees.
Not only that, but you could end up spending much more on overhead expenses and rent costs as a result of poor location choices. Location is a key factor in determining how much foot traffic your business will get. The more customers that visit your store, the more revenue you’ll make. So, it’s crucial to choose a location that has a large number of potential customers.
The Importance of Being in the Right Place
Not only is it important to choose a location that is in high demand, but it’s also important to choose a location that customers want to frequent. This is often referred to as a “path of least resistance”, meaning that customers will go to the path or route that requires the least amount of effort.
In the case of figuring out which location is best for your pizza franchise business, you’ll want to consider factors such as parking, visibility, and walkability from nearby population centers. Some locations are just more convenient for customers to get to than others. And often, those that are more inconvenient will result in fewer customers than those that are easier to access.
For example, if you pick a location that has limited parking and requires customers to walk several blocks in all types of weather, you’ll have a much more difficult time attracting customers than if you had picked a spot that is close to parking, has good visibility from nearby roadways, and is within an easy walk from nearby population centers.
Convenience for Employees and Customers
When you’re deciding on a location for your pizza franchise, you’ll also want to think about the conveniences that the location offers employees and customers. What kinds of amenities are available in the area? Will employees be able to get to and from work comfortably? Are there nearby public transportation options?
Are there parks or other places to relax nearby? These might seem like unimportant factors, but they can make a huge difference in how much employees enjoy working at your business and how loyal your customers are. These factors can also help you decide on a location that will be convenient for your customers. If there are places where people can park nearby, or if there are nearby public transportation options, potential customers will be more likely to make the trip to your store.
Cultural Fit: Finding the Right Location for Your Brand
One important thing to keep in mind when deciding on a location for your pizza franchise is ensuring that the area has a cultural fit. What does this mean? As you have done your homework before getting started in this business venture, it means that you want to make sure that the surrounding areas reflect the type of customers you want to attract. If your brand has a particular type of culture associated with it, you’ll want to make sure that the location you choose reflects this.
If you’re trying to appeal to families, for example, you’ll want to make sure that the neighborhood around the store has a certain type of feel to it. If the area is full of teenagers and young adults, you might want to rethink that location, as you won’t be reaching your desired customer base.
Final Thoughts
When you’re deciding on a location for your pizza franchise, there are a lot of factors to consider. After all, the location you choose will have a huge impact on the success of your business. You’ll want to choose an area that is in high demand for pizza. You’ll also want to make sure that the location is convenient for both employees and customers. And finally, you’ll want to make sure that the surrounding areas have a cultural fit with your brand so that you can reach the right customers.
