Thursday, May 22, 2014

How do you conduct research for start a new ice cream business in urban city?

How do you conduct research for start a new ice cream business in urban city?
To start any retail business it is important to look at the following factors:
1) Competitors - Who is located around you, are there any competitors within walking distance to your location. If so, are your competitors successful
2) Foot traffic - retail businesses highly depend on foot traffic, how many people walk by your location on any given day.
a. In terms of an ice cream parlor - are there substitute locations around your location that will help drive traffic. Example - is there a nice restaurant close by that will force desert traffic to you after their initial meal. Example 2- is there a part or school near by?
3) Community Developments - Check with the city to see If anyone is applying for permits or starting developments on: Community Centers, Schools, Large Condo Complexes, or any other traffic driving locations
4) Community Habits - is the surrounding community willing to go out and spend money on an ice cream parlor or are they going outside of the community.
a. If your community travels a distance of over 2 miles for food or entertainment it is likely that they will purchase desert in similar locations.

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