hey guys how you do it's Josh Valentine I hope you've enjoyed the last few two videos we've had we talked about these three points behind me for those I've been watching I'm a previous multi-location franchise owner or an industry concept creator there are no longer part of the traditional business world on the franchise world we love it have a passion for it and we understand it but we're not a part of it and we kind of are glad we're not because now I get to work from home it's pretty cool you can check out the website I love franchising combo that's not what this videos to be entirely about I want to give you some key points golden nuggets things to look for when you're researching the right franchise to buy it for yourself and your family we've talked about some key points we're gonna bring up another one for those that have watched my previous videos you know I would say forgive my handwriting because it is horrible and it is horrible point look for is location on that point for is location I'm actually raced this stuff because I got some things we got talked about regarding location when you're going into the franchise world and you've decided that guess you have passion for the industry they qualify you for you and the member of our right mounts about site location so I'm trying to find the right site for your business guys oftentimes people are focused on just high traffic areas made a good exposure Romania Romania okay you need to really analyze your business you need to understand the total demographics of your customer make sure you get it if that means you go find up one of the more profitable successful franchisees in your area or even if they're not your area and you stay there for a week and you survey people work it out with them you know say hey guys I want to really survey this will help you give you a good idea of where where's cover from but I also understand whether the customers come from for this brand you need the first-hand knowledge you need to find out where they're coming from and once you do that you then can take a site and wrap you work the demographics around that area and you know what I tell you what the franchisor is going to tell you a specific type of demographic this time there but I'm gonna tell you something the field and fear of theory are two different things you need to get out there have the first hand knowledge because this is your business this is your future and you're staking a lot of out of it so we're going to talk about just some examples okay I'm getting rid of this all right now I'm gonna talk about the restaurant industry because that's where I come from and when you look at the restaurant industry we were a fast casual restaurant industry or quick service to Cuba quick quick service about sonic us our restaurant industry and now there's a few things that my dad's actually very successful franchisees over he's one of the original franchisees for a local regional franchisor here and he's very successful young eh I learned a lot of principles that many people never learn and one of the things I learned was this relocation obviously given location location location that's the old saying but you gotta understand the demographics of what you're looking for for example this is your superior an example for you to see how it applies in the real world the rest running history you want a steady mix okay you want to mix up a specific population because the restaurant business is built throughout the day okay it's not just on eight to five four to nine some more fancier sit-down restaurants maybe just be able for dinner but I'm talking about the quick service restaurant okay you want to your location you don't want to just be at Maine in Maine where there's a bunch of traffic all the time for sale you want to be in a position where people are going to be stopping by your location because of convenience because of logistics because it works within their life okay same thing without ready to see you're looking at but I'll change bakery I don't know you know you can wrap this thing around URL appeal first thing you want you want to study mix of what we're going to call retail I might be writing that to small and playable I apologize that's retail you want any mix-up I'm going to call corporate you want to study make some what I'm gonna call commercial some I spell that right then you're gonna want to study mixing what I would say a residential okay in the restaurant deal restaurant business fast service or quit service fast casual not talking like a Mickey D's ourselves I'm talking more a little healthier food kind of a nice environment to sit down the it festers retail corporate commercial residential if you want to study solid mix because what's going to happen is you're going to have the retail locations retail establishments that really pull in customers when during peak shopping hours okay peak shopping hours seasonally as well the weekends and whatnot you're gonna have that retail mix around you in which you're gonna pull from people are shopping locally around your establishment okay corporate corporate to me is like a business part corporate business park where you know you may have if you look this is an overview of like a park you're gonna have a few roads you know like this may be a court over here that's on but then in there you during high office building wall on office building to office building three office building for you're gonna have office five office six four down a big big corporate office eighteen key right here you have no office right here okay and these are built hung vertically so what does that mean there's a lot of people in this segregation this little area you have a corporate part those people are going to be your customers typically during your lunch hour in the restaurant business you have a master I'm sorry you should good dinner rush right well those are going to be your people in that time retail you're gonna kind of get scattered throughout the day and the corporate people are going to be a majority on your lunch hour but in addition they have to go from work to wear oh that's why when they come during your lunch hour you really push your pickup service because here's what's gonna happen honey I gotta take the kids to this to this do that can you pick up dinner on your way at home Oh Joe and Joe Smythe's restaurant or whatever XYZ business has a great call in service I'm gonna call them it's convenient for me see what I'm saying so that's my idea with the restaurant industry the next thing is commercial commercials take that same concept okay come on the second segment out of an area that's dense in population and you're gonna have that same concept but these are called industrial parks which means they're bigger manufacturing warehousing shipping printing facilities okay which houses typically three shifts of employees which then will give you a steady flow of customers throughout your day in addition a lot of these big companies have incentive programs for safety what not where you can get in and you can be part of that sponsored program where they'll bring in food or buy lunch for the whole every shift if they go X amount of weeks without getting up then injured just an example that's commercial or what you would call an industrial park residential well what is that going to be good the residential people on their way home we talked about people actually kids get home from school then they go back out for their activities now they're out and about into your area because we got a softball game of soccer game a football game they got church player youth group and they're going out there on the run doing they're doing their thing they're gonna swing by your place for your dinner okay then you also have the week we're people that live close by are gonna go about and do their errands and whatnot to meet come into your place so this is just an example I didn't even hit him this deep into training on location for restaurant industry but I hope you can understand that what we've done is we've segmented the tin torn part our day and we've said you know lunch mainly we just said lunch mainly their lunch mainly their dinner and weekend here and we can kind of set throughout the whole day for retail or during peak shopping seasons you can do that with your business analyze your demographics figure out what makes the most sense put your business in the position where you're going to maximize your exposure in an area that's going to that's going to be I guess in the right demographic with a good mix with the locations with text attention locations that's right for your business guys I hope this training on location made sense because it's powerful and the reality is if you do it right you're gonna have a killer business and then you can open more them how fun is that god bless have a good end I'll see you on the next training