Sometimes clients are not sure if their market can support a family entertainment center (FEC), hybrid-bowling, children's edutainment/entertainment, eatertainment or other type of location-based entertainment (LBE) or community leisure venue (CLV) project and whether they should proceed with securing the site and the expense of a one-day consultation or a full market feasibility study. We offer a preliminary market and site evaluation study service for those situations (in the USA and Canada). We evaluate the site using aerials. We identify competition. Then using computer modeling, we develop a preliminary set of demographic and socioeconomic-lifestyle data for an approximation of what the market areas should be for the proposed project type and location. We can then usually determine, based on over 40 years of market analysis experience, whether the site appears acceptable and the market appears to be a sufficient size with the needed characteristics to warrant moving forward to the next stages of site inspection and feasibility.
We will email you a summary of key demographics, demographic maps, a summary of the market's socioeconomic-lifestyle composition and a competition map. Randy White, our CEO, will then spend up to one-hour on the phone with you discussing our findings, recommendations and your proposed project.
We have had many occasions when the preliminary market and site evaluation indicated the market was too small to support the project or the site was unacceptable although the market appeared sufficient in size, so we advised the client not to consider a project in either that particular market location or at that site. We sometimes find that there is potential market demand, but for a project that is a different concept and mix than what our client is originally proposing.
The cost of a preliminary market evaluation is $895 (*). If you then contract with us for a one-day consultation or feasibility study for the same site within two months of the preliminary evaluation, the fee for the additional work will be reduced by $400 since we will have already run the preliminary demographics.
* Price current as of January 1, 2020.