3 steps to make a competitor's territory work for you
Making territories is hard, especially in unknown markets. To help plan your post-Covid growth strategy here is a handy way to create sellable territories today.
Step 1. Find average drive-time
Pick a key competitor that has been open several years in an unknown market. Find the drive times where the edges just touch its other stores. Above it is exactly:
Step 2. Get average demographics
Then average the Population and Households that make up each of the five competitors' drive times. The result from above is:
Average Population: 137,136
Average Household: 55,041
Step 3. Apply averages to your area
For our new territory area, we'll apply a 10 minute drive time and check the Population and Households.
Our Population: 143,352
Our Household: 57,199
By using an established competitor's territories who have been though expansions and closures in a market, you can build a territory in an unknown market to closely match how they did it. In this case.
If you're planning your post-Covid recover, at this time we are offering a consultation on what you see here for no charge. Feel free to book a time and we'll do this live with you for 30 minutes.
Many companies struggle to sell products in areas where nobody cares. With Fract, it’s easy to find areas with the right customers so that you can generate more sales.