Plain Talk

When Do Businesses Need Site Selection Services?
From The Buxton Co

Many companies reach a point in their growth and development when they feel that it is helpful to invest in site selection services. But with a wide spectrum of services ranging from research tools to contract negotiation, knowing which type of service you need – and when you need it – can be a challenge.

In this blog post, we demystify common site selection services and offer tips on the business situations best suited for each type.

The 3 Most Popular Types of Site Selection Services

Site Selection Analytics

The first major category of site selection services is site selection analytics. Site selection analytics is a form of market research that focuses on understanding the dynamics of your successful sites and then identifying other sites that meet similar criteria. Site selection consultants who specialize in this area typically develop a site selection model, which can be deployed to an interactive GIS platform that allows the user to score potential sites, access reports on the market, and view other relevant statistics.

This type of site selection service may be a fit for you if any of the following describe your business:

• You have a person or team on staff to oversee real estate, but need access to information to inform your real estate decisions
• You are preparing to expand beyond your home market and can no longer rely solely on “gut feeling”
• Your existing sites have inconsistent performance and you want to reduce the number of poor performers that you select going forward
• Your real estate costs are high and you need to thoroughly research an area before making an investment
• Your organization is growing quickly and needs to improve the efficiency of site visits by narrowing the list of prospective locations

Site Identification

While site selection analytics services identify sites through statistical models, some firms take the “personal shopper” approach by doing the boots-on-the-ground research for you. In this type of service model, the consultant considers and may rely heavily on qualitative factors. Does the location have the right visibility? Is it easy to access? Does it have the infrastructure needed for your business?

This type of site selection service may be a fit for you if any of the following describe your business:

• You don’t have anyone on staff to oversee real estate
• Your existing real estate team isn’t able to keep up with the demand for site visits or needs to prioritize another project, making the “full service” route an appealing option
• You already have access to site selection analytics and need someone to do further research on recommended sites

Site Negotiation

Once you’ve identified properties that meet your site selection criteria, there’s still the financial aspect to consider. The final major category of site selection services is site negotiation. Consultants who specialize in this area may represent you in negotiations with the property owner and possibly the local government, if there are incentive opportunities.

This type of site selection service may be a fit for you if any of the following describe your business:

• You don’t have anyone on staff to oversee real estate
• You are making a major real estate investment with complex negotiations and incentives
• You are investing in an international market and need someone with local knowledge to assist with the negotiations
• You are confident that the site has already been thoroughly vetted and doesn’t require additional market research

Some firms specialize in one area of site selection services, while others offer a bit of everything without as much depth in each area. Consider which type of service will best relieve your organization’s pain points and then find a firm that specializes in that.

Buxton offers site selection analytics that provide your real estate team with the insights needed to make homerun decisions. We specialize in analytics for retailers, restaurants, healthcare providers, and other B2C businesses.

Buxton is the leading customer analytics firm that helps organizations identify who their customers are, where those customers are located, and the value those customers have to the organization.

2651 South Polaris Drive
Fort Worth, TX 76137
1-888-2BUXTON

buxtonco.com

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