{"id":33301,"date":"2020-05-18T10:42:20","date_gmt":"2020-05-18T14:42:20","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=33301"},"modified":"2026-01-30T12:04:46","modified_gmt":"2026-01-30T17:04:46","slug":"location-location-location","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/location-location-location","title":{"rendered":"Why You Need To Forget Everything You\u2019ve Heard About \u201cLocation, Location, Location\u201d"},"content":{"rendered":"\n

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It used to be that location<\/a> meant everything<\/em>. Covid-19 has changed that.<\/p>\n\n\n\n

For instance, if you were looking to buy a Subway franchise<\/a>, you were told that \u201cthe location is key<\/em>.\u201d For the most part it was. In fact, choosing a good<\/s> great location for your franchise business has always<\/em> been a crucial piece of the puzzle.<\/p>\n\n\n\n

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Note<\/strong>: investing in a franchise<\/a> is a fairly complex undertaking. It\u2019s definitely one that should be done with the help of experts.<\/p>\n\n\n\n

Speaking of experts, most franchisors that require a location<\/a> have a dedicated real estate person on staff (sometimes an entire department<\/em>). Their job is to help you find suitable property to lease for your new franchise business. And they\u2019re probably experts at it.<\/p>\n\n\n\n

With that in mind, you should know that they usually have real estate contacts in local markets. However, it\u2019s likely that they don\u2019t know your area like you do.<\/p>\n\n\n\n

In view of that, it\u2019s important for you to listen to their ideas. At the same time, you need to remember that ultimately, both parties (you and your franchisor<\/em>) need to agree on the location. In other words, you do<\/em> have some leverage.<\/p>\n\n\n\n

Equally important, and a point often overlooked, is the fact that the franchisor needs the location to be an excellent one. That\u2019s because the better the location, the better the chances are that the franchisee (you<\/em>) will make money<\/a>.<\/p>\n\n\n\n

Franchise Rule #1<\/strong><\/p>\n\n\n\n

In franchising, the more money the franchisee makes, the more money the franchisor makes<\/em>.<\/p>\n\n\n

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It\u2019s Survey Time<\/h2>\n\n\n\n

The Washington Post and the University of Maryland just did a survey about consumer shopping habits. The results are ugly.<\/p>\n\n\n\n

They found that while a majority of consumers (56%<\/em>) are comfortable shopping in a grocery store, 67% are not comfortable with the idea of going into a retail clothing store and 78% don\u2019t want to go into a restaurant for a sit-down meal<\/a>. Feel me?<\/p>\n\n\n\n

The results of another survey<\/a>, this one focused on retail space, stated that \u201cmore than 15,000 stores could shutter in 2020, far surpassing 2019’s record 9,548 closures<\/em>.\u201d I\u2019m actually convinced that number is going to be higher, but let\u2019s stick with theirs for now.<\/p>\n\n\n

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Some Cold, Hard Facts About \u201cLocation, Location, Location\u201d<\/h2>\n\n\n\n

To begin with, It\u2019s no secret that Amazon<\/a>, and to some extent, Wayfair, and the like, have been hammering the crap out of retail stores. Even so, the potential store closure numbers above are off the charts.<\/p>\n\n\n

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Hammertime – Teamwork GIF<\/a> from Teamwork GIFs<\/a><\/div>