July 20, 2019 at 1:38 pm #91625J. Larry BloodworthParticipant
The very last thing most shop owners think about when choosing a shop location is traffic count. It usually falls somewhere under the vague term “a really good location.” on the rare occasion, a shop owner can cite a number, it’s only a number they heard from someone and not from their state’s Department Of Transportation. (DOT)
The truth is available for free, online, from your state’s DOT. It’s also available on Google Earth. Or you can hire CubitPlanning.com for $99 and get AADT along with a 7-page radius report of demographics within a 1, 3, & 5-mile radius of your shop’s address. Virtually no shop owner is going to pick up and move an existing shop location for better demographics or high traffic count, right? What about a 2nd location? Would you consider it then? Most shop owners will if it’s brought to their attention.
Before you blow off this post and quit reading, consider a recent Email I sent…
>”The old maxim of “Location, location, location.” is so true. The following came out 2 months before we located the building shown in my previous Email. At the time, I thought to myself, “Jesus, how are we going to afford an $8K/mo. building?” I was scared shitless but I had confidence in Roy Williams especially after flying out to his Wizard Academy and spending a few days there. We had so many sales leads we couldn’t handle all the business from a production standpoint. If I was to open another shop, it would most definitely have to be a very visible freeway location. My 2 previous shops were like most. Cheap rent with parking issues. My former marketing coach, Roy Williams once said, “Expensive rent is the cheapest advertising you can buy.””<
The latest DOT Annual Average Daily Traffic (AADT) for our shop’s location is currently 203K/day or 74+M/yr.
We sold the business in 2015 and leased our building for $11K/mo. The lease renews in 5 years at $14K/mo.
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