Vicente Paterno, president of 7-11 Philippines answers a critical question about franchising: “How does one determine the most appropriate location for a franchise store or outlet?”
“There is a misconception that the secret to choosing a good location is simply to look for a place with lots of people. This might be true to a certain extent, but this is incomplete. While size of the market is a determinant, there are also other aspects to consider when choosing a good location.
“One important thing that you have to think of is the image of your brand, and if it is consistent with the location you have chosen. Will the location maintain or strengthen your brand image or will it weaken it? Another way of looking at it is, if your brand will be appreciated by the market in the locality? Is your brand relevant to the market?
“Choosing a location is all about strengthening the relevance of your brand to your target market. To the eyes of your consumer, the relevance of your brand will depend on a number of things, and these include intangibles like the consumer’s affinity to the values of the brand and the ability of the brand to make the consumer feel good.
“But I believe that the main factor is convenience. As long as it is convenient for a customer to visit your store then your brand is relevant to him.
“This can only mean that anything that makes it inconvenient for a consumer to visit your store should be avoided.”
Photo: from www.livelenz.com