Sometimes clients are not sure if their market can support a family entertainment center (FEC), hybrid-bowling, children's edutainment/entertainment or other type of location-based entertainment (LBE) project and whether they should proceed with the expense of a one-day consultation or a full market feasibility study. We offer a preliminary market feasibility study service for those situations (in the USA). 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 years of market analysis experience, whether the site appears acceptable and the market appears to be a sufficient size with the needed demographics to warrant moving forward to the next stages of feasibility and development.
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.
The cost of a preliminary market evaluation is $895 (*). If you then contract with us for a one-day consultation for the same site within four months of the preliminary evaluation, the one-day consultation fee will be reduced by $500 since we will have already run the preliminary demographics.
* Price current as of February 1, 2017.