There’s a lot that goes into the restaurant franchising process, from figuring how to attract the best franchisees possible, to navigating the Franchise Disclosure Document. But one of the most important (and often overlooked) elements of franchising is where to put these future pizzerias. To help you navigate this crucial restaurant franchising decision, we have put together a guide on how you can make sure that you select the best franchise locations possible.
Pick a Neighborhood With a Younger Demographic
It may not seem like a big deal, but the age of the people near your restaurant is going to inevitably impact your revenue. When it comes to pizza and other types of fast food, people between the ages of 20-39 are the most frequent customers. So if you’re opening up a new pizzeria, picking a location surrounded by retirement homes may not be the best option. You can check the various ages of the people in the neighborhood you’re looking at by using the information from the US Census Bureau.
Ensure It Is Easily Accessible
If you have to explain how to get to your restaurant, or where customers might find parking when visiting, that’s a clear sign that your location is not very accessible, which can be a huge problem. You don’t want to give your customers any reason to avoid ordering from you, which means selecting a spot with ample parking and plenty of foot traffic. If you can find a space along a main road or in an easily accessible building like a strip mall, this can be a great option.
Be Near Heavily Populated Attractions
As a restaurant, it’s best to go where the people are, which means researching some of the biggest attractions in town. Being located near seasonal attractions like theme parks or beaches isn’t ideal, since these tend to only have heavy traffic during certain months of the year. Instead, you’ll want to seek out places that are busy most of the year, such as universities, museums, and theaters. What’s even better is that these locations often attract younger people, which helps check multiple boxes.
Do a Google search of “[insert town name] top attractions” and see what comes up. Try to find any available space near these attractions, and your franchise locations will have a huge leg up on your competitors.
Choose a Location With Little Competition
The type of food your restaurant offers has a massive impact on where the ideal franchise locations are going to be. You probably don’t want to open up a pizzeria in a neighborhood where there are already 10 other pizzerias. This makes it harder to stand out from the crowd and get a substantial customer base. But if you find an area with only a couple of other pizzerias, if any at all, you make it much more likely that customers will order from you when they’re in the mood for pizza.
However, if you specialize in a cuisine subcategory (for example, deep-dish pizza) then you’ll have an easier time setting up a franchise location in an area with other existing restaurants, as long as they don’t also offer the same subcategory.
It’s easy to find out how many pizzerias and other restaurants there are in any given neighborhood. You just need to do a Google Maps search for a specific cuisine (i.e. pizza, BBQ, Italian) and it should pop up with every relevant result, as well as exactly how close they are to whatever location you’re interested in.
Investigate Future Project Plans in the Area
If you’re not looking towards the future when picking out your franchise location, you’re making a huge mistake. The unfortunate thing about locations near existing attractions or high-traffic areas is that they are often priced higher. But if you take the time to research future projects in the area, you might be able to snag a really good deal on a location that will soon be busy.
By using a construction bidding site, you can conduct an advanced search to filter through potential projects in each neighborhood. So if you see there’s a mall or parking lot being planned nearby, then this can be a great spot to establish your next franchise location.
Need help with the other aspects of running a successful franchise? Then check out this article on how to ensure your franchisees aren’t stealing from you.
Posted on Wed, Jul 07, 2021 @ 09:07 AM.
Updated on August 26, 2021 @ 6:39 PM PST.