PCensus White Paper Know your Customers, Understand your Markets, Find Winning Sites Michael Simon Director | Location Research T: 1-800-663-1334 ext. 309 E: firstname.lastname@example.org www.tetrad.com
Three Steps to Find Winning Sites with PCensus - Step 1. Describe your customer’s demographic criteria. - Step 2. Create a custom market potential index with SiteScore. - Step 3. Screen markets across North America and find winning sites with SiteScan. In a few clicks, PCensus’ SiteScore and SiteScan tools can evaluate thousands of potential trade areas (circles or drive time polygons) to identify the sites that that best fit your specific business needs. SiteScan screens markets to identify high potential location options:
The final step is to run PCensus’ SiteScan to screen an entire market and identify optimal locations.
SiteScan enables you to draw a box around the market area that you want to analyze. In this example, a major market was selected and sub-divided into a site selection grid of 0.5 by 0.5 mile cell spacing. The center point of each grid cell represents a potential site location for a possible store location.
Around each site, we instructed SiteScan to draw a 3 mile ring radius to represent the trade area from which the majority of customers are expected to visit. This step can use either a specified ring radius or drive time zone.
For each site’s trade area, PCensus scores and profiles the demographic variables based on a percentile ranking vis-à-vis all other potential sites across the market.
The SiteScore for an individual site is the sum of all scored & weighted variables for that trade area, divided by the total number of weightings to normalize the score between 0-100.
SiteScan will automatically profile and score each site until it screens the entire market.
Visualize Results & Identify High Potential Sites
Every potential site in the market was assigned a colour based on the spectrum: gray ("cold") for the lowest market potential scores, to bright magenta ("hot") for the highest scores.
By locating a new store in a “hot” area, your company is guaranteed to have access to the greatest presence of the specified key target customer demographics.
"Wealth Builder" Hot Spot Legend (3 mile proximity around sites) Site Score Index Key Demographic Scoring Factors: - Age 30-39 years - H'hold income $70K+ - Owned homes - Married families - Children under 6 yrs 90+ 80 78 75 0 70 Optimal Excellent Good Low
Drill Down to Evaluate Submarket Trade Areas 1. Submarket Hot Spot Map: 2. Submarket Demographic Profile Report: Metro Area Benchmark Index = Base 100 Submarket Indexes over 100 indicate above average target demographic potential "Wealth Builder" Hot Spot Legend (3 mile proximity around sites) Site Score Index Key Demographic Scoring Factors: - Age 30-39 years - H'hold income $70K+ - Owned homes - Married families - Children under 6 yrs 90+ 80 78 75 0 70 Optimal Excellent Good Low