Want to achieve major success in the restaurant business? Ray Kroc, the former owner of McDonald's, once said, "Being in the right place at the right time and doing something about it" are the keys. But how do you find that perfect location?
In today's era of abundant data and AI tools, investing in commercial real estate requires careful consideration. There are two main strategies to choose from: Core Investment and Opportunistic Investment.
Core Investment involves following industry leaders like Kroc. Look for central locations near densely populated areas with high pedestrian and car traffic. While competition is fierce, this strategy guarantees consumer demand. Quality products are a must to stand out.
Alternatively, Opportunistic Investment seeks locations near central areas but away from saturated competition. These spots can be found on the peripheries of the city. Although demand may be lower, earnings can be higher. Seek periphery centralities, proximity to residences or workplaces, and car accessibility.
Remember, there's no one-size-fits-all approach. It depends on your capital and the market opportunities. Use data analysis to make informed decisions that boost your chances of success. 📊
In conclusion, location is everything for restaurant success! Whether you go with Core or Opportunistic Investment, analyzing data and market conditions is key. Do you have any questions about these type of analyses, data or strategies?
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