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For all you startup shop owners out there...


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  • 4 weeks later...

I could talk for a long time on this. However, in summary, we looked at two key criteria for choosing our location:

- Daily traffic count

- Area demographics

 

You can get the daily traffic count online through the DOT websites. Or your real estate agent can get it for you. In a city, you want at least 30k cars going by your shop daily.

 

You can get demographics through a number of paid sources or from your real estate agent (ask for a Costar report). You are looking for high median household incomes. Opening your shop in a good neighborhood will eliminate a LOT of the problems that guys in this forum are complaining about.

 

Let me know if you want to get into specifics.

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What brought you guys to exactly 30k or greater in traffic counts. The only problem I see with that is we are not the only ones that realize traffic count is important. Since others realize that obviously real estate costs are going to be much higher.

 

What I'm wondering is does the increase in real estate costs overcome the increase in sales due to traffic count or is 30k that sweet spot?

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To get customers in your front door as a startup, there are 3 methods that come to mind:

- Get a great location with a lot of visibility

- Market like crazy

- Wait for word of mouth to do it for you

 

Waiting for word of mouth to work takes a looooong time. Additionally, I would argue that in the city, word of mouth is less valued than in a small town.

 

So, you are left with the first two methods. Both cost money. A great location is expensive. Marketing is expensive. Both work. If you don't have a great location, expect to spend a lot on marketing to make up for it.

 

Is 30k the magic number? No. It is the minimum number. I looked at minimum traffic across various industries to get this number. Go to the IHOP or Meineke webpages and look under "start a franchise." It will show you minimum stats for choosing a location. Or just buy into a franchise, and they'll do all that hard work for you.

 

http://www.ihop.com/about-ihop/franchise-opportunities/usa#05

http://www.meineke.com/about/

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I like your creativity in finding a base traffic count that was a good call.

 

Also I just wanted to add that these real estate websites like trulia especially or realitor.com or zillow.com offer lots of free demographic info for areas of town.

 

Also I think there are a l of cheap marketing avenues out there that I think are a lot of time discounted such as social media, face to face meetings with fleets or car lots etc.

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Something to remember about how many cars drive by, how fast they are going. 30k going by at 75 mph isn't gonna do you much. 20k cars going by when your location is at an intersection and the speed limit is 30 mph or 40 mph is way better. Just FYI

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What other factors did you guys find to be most important through your market research, we got location and customer base/median income of those customers. What about some of the cold hard facts like how much I can expect my customer to spend in a year with us? Or how many customers should I even expect to come through my door? I'm interested in the answers to these questions as well as how you found them as I'm sure they are slightly different here.

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  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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