It’s been a glittering month for Spectrum Analysis, a geodemographic and statistical consultancy that helps franchisors and franchisees map their areas, understand the demographics and locate great sites.
First, on August 12, GIS (Geographic Information Systems) Analyst Jonathan Steel was recognised twice at the RMIT University Geospatial Science Student Association Ball and Awards Night, receiving awards for The Most Outstanding Student in Geospatial Science and the 2022 Listech Award for Best Academic Results 4th Year.
Then, less than a week later, Co-Founder and Managing Director Peter Buckingham was named one of Australia’s top 50 business leaders at the Octomedia Inside Small Business Awards.
The science of site selection
Spectrum Analysis provides in-depth site analytics information to help franchisors and franchisees plan their site locations.
This can include:
- logical territories planning, catchment or trade areas (by postcode, radius or travel time)
- how the market changes depending on the location
- local competition names and addresses
- forecast and actual population growth or decline over time
- socio-demographics and lifestyle information
- business counts and employment numbers
- exposure analysis
Comprehensive Site Potential Reports or Data Packs can be created around specific requirements and provide all of the information required to evaluate the current and future market potential of a physical site, or a territory for the proposed business.
Vital data
“Most franchise systems have a target audience and your first thoughts should be to match the area to the product you sell,” Buckingham says. “Demographics can help you gain a better understanding of the areas that interest you.”
Once you have identified an area, you need to match your expectations with what is available and your budget.
“Whether this is a shopping centre, strip or freestanding site such as a service station, we have the data to help you compare the opportunities and identify the sites most likely to provide long-term profitability,” Buckingham says.
Combined with great mapping tools, you can then have a much better understanding of the market, your sites or territories and your competitors, and be able to convey that clearly to everyone who needs this information.
