As a business wants to reach customers in different geographical areas and tap into new markets they need to open new store locations but this is not without risks. It would be convenient if the potential of a location could be estimated in advance to ensure that the perfect location is chosen. Well we have great news, with Accurat’s dashboard it is possible to estimate the business potential of a location based on several metrics.
Get an overview of nearby stores within 100m and 1km of a location.
Consider the city centers within 20km driving distance together with the number of inhabitants.
Take a look at the location parameters: surface area, street traffic and surrounding traffic.
Discover the distances that your current customers travel to your stores.
Observe the number of inhabitants within 20km driving distance and the number of consumers of similar stores.
Identify which type of people (house owners, DIY users…) live close to a location
Take a look at competitor metrics such as the amount of nearby competitors and the distance to the closest competitor.
Spot visually the share of visits and the surface area of nearby competitors together with the distance from your location.
Take into account the values of the metrics over the three domains: location, relevant potential and competitors to estimate the potential of a location.
Compare per metric the potential new location with your most similar existing store.
Based on the current ranks of your most similar existing stores a rank is giving to the potential new location.