We have all heard the saying, “Location, Location, Location”, when speaking about beginning a enterprise. That is nice recommendation however how do we all know if a location is sweet for a hair salon to thrive? There is usually a numerous variety of variables to think about, however we will slim down the record to only a few. We’ll do that by specializing in solely a very powerful components that we will measure objectively.

• How a lot competitors is already within the space?
• How a lot by site visitors does the realm obtain?
• What is the common inhabitants and demographics of the realm?

Let’s break these down one by one and see how we will objectively measure every.

How a lot competitors is already within the space?

Go to Google Maps and search “hair salons , ” Substitute and with the situation you are serious about. For an instance we’ll carry out a Google seek for: hair salons Medford, NJ

Now we will see a set of areas the place our opponents are situated. From this web page we will see if they’ve a web page and critiques. Having a number of different hair salons within the space should imply that this is not an excellent place for my location, proper? Not essentially, like most issues in enterprise it isn’t so reduce and dry. So long as there are sufficient potential purchasers within the space than having some competitors is not a foul factor. We’ll see shortly how we decide if this space has an excellent quantity of by site visitors and a wholesome inhabitants.

How a lot by site visitors does the realm obtain?

We wish to know if the realm has an excellent quantity of by site visitors that may assist us with potential new prospects. This is usually a nice supply of walk-in enterprise. The beauty of discovering this data is that almost all Division of Transportation departments (DOT’s) publish automobile site visitors counts of their business roadways. To search out in case your state has site visitors depend information obtainable you’ll be able to Google, “ site visitors depend”, the place state may be the 2-letter abbreviation for the state you are serious about. For instance for New Jersey we might Google: NJ site visitors depend 풀싸롱

Within the search above we discover precisely what we’re in search of, the NJDOT Site visitors Counts search web page. New Jersey truly has a very nice searchable interface utilizing Google Maps. A number of the different states that I’ve searched appear to have only a PDF of the knowledge obtainable. That is wonderful, however I favor the interactive map model. Needless to say some states might not have this information obtainable in any respect. So following the third search end result brings us to the State of NJ’s site visitors counts web page. Enter your goal deal with into the search software.

That may put the purple balloon marker on the map instantly on the deal with we entered. The opposite markers on the web page, in blue and purple, are locations the place there have been precise site visitors research carried out by the state. What we have to do is drag our purple balloon marker onto one of many different markers and a small data field will seem displaying the site visitors counts. The column known as AADTstands for Annual Common Day by day Site visitors . That is the overall quantity of car site visitors of a freeway or street for a 12 months divided by three hundred and sixty five days. For instance it might say that roughly 13,000 automobiles journey previous this level day-after-day. It is going to additionally let you know the date the site visitors depend examine was carried out. In our instance it began on Might 25, 2010. Since that is lower than two years in the past the info is an efficient approximation of the current by site visitors on this space. The final column is a hyperlink to the precise report with a extra detailed breakdown of what number of automobiles journey in every course and it even breaks it all the way down to the hour. This may be helpful to see if there may be nonetheless a wholesome quantity of site visitors solely throughout sure hours of the day. Now you need to maintain dragging the purple balloon marker to completely different site visitors depend markers across the space and you’ll spot if patterns develop. In our instance, the markers to the south present 6,000-7,000 site visitors counts. On this case I might say that is a wholesome circulation of site visitors to your new salon.

What is the common inhabitants and demographics of the realm?

One fast technique to do get some fundamental demographic data for a selected city is to look the city up in Wikipedia. Let’s check out Medford, New Jersey on Wikipedia. This can be a good place to begin if you do not know the city very properly. It is going to normally have data resembling the overall inhabitants, historic inhabitants, historical past, transportation, fundamental demographics, and normally some good exterior hyperlinks to native township web sites. That is nice supply of knowledge for our preliminary search, however we will go deeper and get extra detailed details about the demographics and financial traits of the city. We will discover this data on the U.S Census Bureau American Reality Finder web site. For our instance, after looking for Medford, NJ we’re proven an inventory of various paperwork.

These paperwork describe common, social, financial, and housing traits. I must warning you that there is usually a ton of knowledge, however we will simply concentrate on the newest information. Simply wanting on the breakdown of age teams, common household earnings, and housing can provide you a really feel for the city. You may be artistic in the way you interpret the info and use it to achieve your purchasers. If we all know that the common household earnings is on the decrease aspect perhaps we will provide particular reductions to our purchasers. Then again if the common household earnings is on the excessive aspect perhaps we will take into consideration providing increased finish costlier companies. Now we’re getting extra into advertising and marketing, however that must wait for an additional day and one other weblog put up.

Sanity Examine

As enterprise homeowners our time is likely one of the most precious property we now have. Utilizing expertise for this function is likely one of the some ways we will obtain this objective. By utilizing the information given on this weblog we will rapidly assess an space’s viability for the situation of our salon, however we additionally must do a sanity verify. Take the time to go to the realm and make it possible for the knowledge we have gathered appears lifelike. Make a number of separate journeys, perhaps as soon as on a weekday and one other on a weekend. Maybe go noon or early morning and go to another companies within the space to get a really feel for the city. Is the grocery retailer clear and stocked? Are there good eating places, espresso homes, gyms, enterprise facilities, or neighborhoods that you just assume could possibly be a supply for brand new prospects?