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How Market Opportunity Analysis Can Guide Your Real Estate Strategy
From The Buxton Co
Whether you are preparing to enter new markets or evaluating the infill potential of existing markets, you need to understand the total opportunity that the market offers your unique retail or restaurant brand in order to optimize your investments.
Most business professionals are familiar with the concept of a market opportunity analysis. But what does this analysis look like in a real estate context? How can customer analytics be used to conduct the analysis? And how can you turn the insights from the analysis into an actionable real estate strategy?
We’ll explore those questions in this blog post.
Market Opportunity Analysis in Real Estate
The goal of a market opportunity analysis is to identify the potential for a brand or product in a specific market.
In a real estate context, the goal of a market opportunity analysis is to identify how many brick and mortar locations the market can realistically support. That information is used to align investment with business potential.
Market Opportunity Analysis Techniques: Using Customer Analytics
If your goal is to determine how many locations a market can support, where do you start? You could use rough calculations of market demand and competition to estimate potential, but there are less manual – and more precise – techniques that draw on customer analytics.
Here’s how it works:
An analysis is only useful if it is applied. Here’s how to use the results of your market opportunity analysis to guide your real estate strategy.
Compare Markets to Determine Which One to Enter First
Improve the Efficiency of Your Real Estate Search
The Bottom Line
Using customer analytics to conduct a market opportunity analysis can improve the efficiency and effectiveness of your market planning process.
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