When it comes to choosing a spot for your small business, guessing isn’t good enough.
How can you be sure your business will stick?
Whether you’re a first-time entrepreneur eager to break ground or a seasoned business owner scouting out a second or third location, custom market research from the Arkansas Small Business and Technology Development Center, coupled with one-on-one consulting, can simplify the site selection process.
ASBTDC offers an array of specialized research tools, including a vast library of demographic and behavioral characteristics, that can help you understand your customer base like never before.
Need to know the average spending on pizza? What about how many adults played golf in the last 12 months? We’ve got you covered, no matter how you slice it.
Our research team builds in-depth reports specific to your desired trade area, pinpointing the customers you’re trying to reach. But we don’t stop there. If you are considering multiple locations for your business, we have resources available to guide your decision-making process through reliable, actionable data.
No-Cost Site Selection Resources from ASBTDC
Our proprietary SiteCompare tool assesses the potential of multiple areas, helping you make an informed decision on where your business should be located.
Furthermore, this advanced suitability analysis ranks chosen sites based on a suite of factors that we’ve identified as key to a small business’s success, including:
- population
- household income
- number of competitors
- daily traffic volume
- specific consumer spending and market potential variables relevant to your industry
Each category is weighted relative to your unique business, and the data appears in a no-nonsense chart, allowing for you to interpret your options clearly and methodically.
For example, one site might have impressive traffic volume but lower income levels, while another may offer higher consumer spending potential but more direct competition. SiteCompare enables you to make apples-to-apples comparisons that highlight tradeoffs and uncover hidden opportunities.
You’ll view these insights in the context of other customized market research tools such as our unique Demographic Dashboard. This tool summarizes key market characteristics in a sleek infographic format, and a slew of industry-specific consumer spending, market potential, and general demographic reports that place your trade area under a specialized microscope.
And the best part: you’re never alone in this process.
Your ASBTDC consultant will work with you one-on-one to identify the most important factors to drive your business’s strategic and sustainable growth. All services and resources are made available at no cost to you.
Site selection can be a scary process. Make your decision smarter with the backing of expert guidance and custom research from ASBTDC.