Site Selection for Restaurants and Retailers
The genesis of a truly great concept typically rises from individuals with strong operations management expertise. When time comes to expand that concept, a specialized development team with proven new location development skills is essential to executing a rapid growth plan.
Serving the needs of restaurant and retail clients with different size and property requirements across the country, RC offers:
Strategic Market Planning
RC’s strategic market plan refines the concept’s site criteria to govern the pattern of expansion. Our drill-down approach incorporates:
- An in-depth study of the concept’s lifestyle and demographic data in order to prioritize trade areas.
- Analysis of direct competition and other concepts that attract a similar customer profile to validate prioritization.
- Studies of multi-site metropolitan areas to identify and prioritize individual trade areas and optimize market penetration.
- Computer-generated mapping of the trade area with a wall-size map, showing competition and priority trade areas.
Site Selection Services
- Creating comprehensive expansion plans, based on the client’s operational capacity to grow, and factoring in the pace of new store openings and the geographic deployment of new locations.
- Interviewing and retaining site selectors– typically top-tier transactional brokers who are compensated by the property owner.
- Providing site recommendations in a format that complies with established site criteria and client requirements.
- Issuing non-binding letters of intent to establish site availability, economics and tenant improvement allowances.
- Coordinating the client’s design and construction staff or consultants to accommodate individual store layouts and prepare for tenant improvement allowance negotiations.
- RC manages lease negotiations from initial stages through the execution of a binding lease.
- RC’s network of regional attorneys, experienced in the nuances of multi-unit development, are available to prepare lease documents or purchase contracts.