Site Selection

– Retail store optimization

The location of a retail store is critical for attracting potential customers and generating revenue. With nearly 20 years of experience in geospatial analytics, we can maximize our clients' revenue by identifying the optimal location for their retail stores. This involves utilizing a range of data sources such as demography, census, land use, and municipal infrastructure. We develop comprehensive models tailored to the specific needs of each client, regardless of the industry, whether it be a grocery store, spa, clinic, auto shop, restaurant, music school, or other. Our services include:

Search optimal retail site
Optimize retail store network
Evaluate the potential of an existed store

Search optimal retail site

We identify current retail store locations of similar business, and explore current spatial pattern of this industry in the focus area. The following “where” questions are explored in our work:

What is the target market?

The characteristics of targeted customers, such as gender, age, education level, income level, race, etc.

Where are the potential customers?

The geographical locations of the target customers and market size.

Where are the competitors?

The geographical locations of the competitors and their influence areas.

Where is the best location for the new store?

The location that can attract the most customers and generate the best profit.

If our clients have historical data on their retail stores, we can explore the potential capacity of a new store and help our clients answer the following questions:

What is the potential geographical area that the retail store can influence?
What is the optimal size for the new store?

Optimize retail network

For clients who already have a retail network, we can help identify poorly located stores and potential locations for new stores. Specifically, we can address the following questions:

How would the closure of a poorly performing store affect neighboring stores, including competitors? For example, would the revenue of neighboring stores increase, and by how much?
Where is the potential for setting up a new store? We will analyze the appropriate size for the new store and evaluate its potential impact on neighboring stores.

Evaluate an existing store

If you’re considering buying a retail store but are unsure if it’s worth the investment, Greenware Services can help you evaluate the location and potential revenue that the store can generate in the future. We can accomplish this by:

Analyzing the neighboring competitors to evaluate the location’s potential for success.
Identifying the potential market and customers, as well as examining the store’s historical revenue, to estimate the possible annual revenue of the focus store. This analysis will also help determine if the current store is properly sized for its potential market.

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Example of location optimization --- Cafe shop planning in Mississauga Ontario

By analyzing the spatial patterns of demographic information and land use in Mississauga, Ontario, we explored the locations of cafe shops in Missisauga, and recommended optimal locations of new cafe shops.