Hey folks, I'm currently looking at a great location for a shop I want to open in my town. The place is 3000 sq. ft. and the asked rent is $2500 p/month. It's located 1 block from the downtown business district, a corner lot with easy access and great parking. It is also situated perfectly for a drive thru window.
Just not sure how to gauge whether the size is too big or not. How would I begin to project traffic? Based on someone's business plan I saw on bX where they mentioned that US census data stated that 17% of Americans visit a specialty coffee spot every day. So i figured it this way. My town has a population of approximately 55,000-60,000 but we'll figure conservatively at 55,000. So if I take 17% of 55,000 that is around 9300. If I project getting just 2.75% of that population coming to my shop, that'd give me *255* people a day. Is that doable? I don't know. I asked a local shop owner who's been around for about 10 years (shop is just alright at best) how many people a day come through his place and he said about 200.
So what do you think about what I've told you? I've attached some pictures for you to check out as well.
Thanks
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