That being said, here are three critical points to consider when selecting a location for your franchise:
Look for Class A Retail Space. These spaces typically include a high concentration of population and higher household income levels. Ask for it by name!
Population figures. Any real estate expert should be able to cite you statistics on daytime population within a three and/or five-mile radius of your location. It’s usually one of their prime selling points. If this isn’t discussed, it’s probably not a positive statistic!
Co-tenancy. This is important! If the location is a shopping mall or retail strip, ask who the “Anchor” tenant is. Usually, it’s a well known grocer or national consumer branded store. Make sure all of the other businesses in the location don’t directly compete with your business or service. Also, consider whether or not you’d feel comfortable doing business around the businesses already located there.