This post is part of a series asking top franchisors a commonly asked question by prospective franchisees. Today's question is: Are there specific demographics your franchise is best suited for?
Randy Blue
Executive Director of Franchise Development for Aloha Poke Bowl, a food franchise specializing in a traditional Hawaiian dish
Here are the key site criteria: High traffic – high visibility; major thoroughfares; foot traffic in certain conditions is always good; middle to high income markets; and 18-70+ - all age groups. I don’t have to say this, it’s obvious…..location is key and critical to success. Traditional to non-Traditional. Our Two Founders are very successful commercial real estate executives, too. They own 50+ strip centers in Southern Cal, and have built from the ground up major medical buildings, business, and hospitals. So, our real estate support is way above average when we assist our franchisees finding the best locale, and at the right terms.
Lara Olson
Founder of Kidcreate Studio, a children’s art education and play franchise
There are many factors to consider when choosing a location for your Kidcreate Studio. Franchisees should evaluate the population of the market, the traffic patterns of the real estate they are considering, zoning and ordinances of the area, the growth potential of the market along with the overall business climate. Franchisees should weigh all of these factors for each site being considered, and understand that the perfect location is not always easy to find. While you should weigh each factor, you must look at them as a whole and consider what the overall impact will be on your Kidcreate Studio franchise. The ideal market for our studios should be an area that has families with children 18-months to 9 years of age and with a household income greater than $75,000.
Bill Hyman
Founder of KEO Restaurant, an Asian fusion restaurant franchise
Because of our menu selection and moderate pricing structure, KEO is ideal to satisfying both the lunch, dinner and afterhours crowd. This flexibility provides a tremendous advantage to our franchisees and helps to enhance their business and sales opportunities. The popularity of the Asian-Fusion category has attracted the millennials as well as the baby boomers. Our fresh ingredients and healthy food choices also play heavily into the attraction and are very well received by not only the Asian culture, but all ethnicities. Because of KEO’s unique and distinctive concept and format, the restaurant is well suited for both the inner city and suburbia.