There are many reasons why businesses achieve less than they should – poor planning, lack of resources, unfocussed marketing, a disconnect between the product offered and market requirements and even poor products in some cases.

But one key factor that rarely seems to get the attention it deserves and seems to be holding back so many businesses is: articulating and agreeing the key objectives and plans to achieve them. This includes confirmation of the company’s objectives from management to staff and even confirming that managers and directors share the same objectives. More on Are You, Your Partners and Staff Heading in the Same Direction?

Are you wondering where to open a new restaurant, retail store, health club or even a garden centre? Well as everyone will tell you location is the key. This is great advice except that what is frequently missing are the reasons why one location is better than another.

Restaurant, retail, health club and shop planning decisions are the main decisions ever taken in a business and a simple tool, a market map, will help you make a better decision and reduce your development risk.
The map below shows the location of a garden centre and the contour line shows a 15 minute drivetime from the garden centre. Each of the very small squares represents a postcode or approximately 18 households and the colour of each shows the key demographic information – wealth and housing type.

The odd thing about the map is how short the drivetime is to the west of the site and this is due to the location of a canal. One glance at this map also shows:

• The key areas to market his business too – dark blue squares where there are larger gardens, more interest in gardening and larger wallets!

Previously all marketing attention had been focussed on areas to the north east – and on the other side of the canal. But as a traditional garden centre this is not the most profitable area for this business, and neither is it the most accessible as the map shows. Armed with the information now available the operator is now able to focus attention on his best prospects and develop strategies to profile his business strengths. It will also him pinpoint door drops and direct marketing campaigns.

Running a similar map before planning or buying a shop, restaurant, garden centre or health club will give you an immediate overview of your market area.

Market maps are available from Chris Morton Associates and can be supported by area profiling, market demographic data and other analysis to take much of the risk out of your planning decisions.

If you’re at the initial planning stages of a new hotel, restaurant or leisure project, this thought is for you. Hotel marketing guru Melvyn Greene had a very simple guide that he used to get and keep projects on track, namely:

Write the advert first! More on Project Development Plans- A Very Simple Guide