How data can transform strategic decisions and reduce business risks. Why choosing a location cannot be a leap in the dark.
Blog Post #2, January 12, 2025
Choosing where to open a business is one of the most important and complex decisions an entrepreneur can make. A strategic location may determine the success of the store, influencing revenue, operating costs, and visibility. But how can you make an informed choice? Pythagor’s answer lies in the data.
The power of data for choosing the ideal location
The urban environment is a complex puzzle made up of demographics, traffic flows (pedestrian and vehicular), competition, and average income. Ignoring these variables exposes businesses to significant risks. Data, on the other hand, allows for a scientific analysis of the territory to identify areas with the highest commercial potential based on the type of store being opened and monitored. This helps mitigate or avoid these risks altogether.
The location of a business is, in fact, one of the primary factors determining its success or failure, influencing both revenues (potential customers passing through the area) and operating costs (rent).
• analisi personalizzate sui flussi pedonali e veicolari;
• confronti tra costi d’affitto e compravendita delle singole zone e redditi medi;
• report chiari e comprensibili per tutte le tipologie di utilizzatori.
For example, demographic data can reveal whether an area has the ideal target customers for your product or service. Pedestrian and vehicular traffic data can help predict how many people pass by your store, increasing the likelihood of being seen and attracting new customers. Competition data can also be crucial: an oversaturated area might make it hard to stand out, while one that is too “empty” might indicate a lack of demand.
With Theorem©, Pythagor’s proprietary platform, you can access, among other features:
customized analyses of pedestrian and vehicular traffic flows;
comparisons of rental costs, property prices, and average incomes across different areas;
clear and comprehensible reports tailored to all types of users.
Theorem© doesn’t just provide information like most competitors; it guides you in creating a personalized report that allows you to compare different options and identify the ideal location for your business.
Relying on data means having a clear and comprehensive understanding of critical factors to make decisions based on facts, not assumptions or outdated practices.
All of this comes at an accessible cost, designed to meet the needs of not only large retail chains but also small and medium-sized businesses, individual entrepreneurs (including franchises), brokers, consultants, banks, and even public administrations.
In one of our upcoming posts, we’ll discuss the importance of monitoring initial results over time.
Your success starts here!
SMM
For questions, suggestions, or personalized analyses, write to us at: info@pythagor.it
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