Tune into the Franchise Business Radio show to listen and learn from Dan Wirtz, founder of Windsor Realty Group, to get a deeper understanding on commercial real estate. By Pamela Currie
Tune into the Franchise Business Radio show to listen and learn from Dan Wirtz, founder of Windsor Realty Group, to get a deeper understanding on commercial real estate.
Below are some interview excerpts.
Currie: What would you recommend as a good approach for a real-estate strategy?
Wirtz: We’ve put together a program called Target Market Real Estate, which means find the right target market based on your customer and then find the best real estate within that target area. First find out who is your customer and define their characteristics demographically and psychometrically.
Currie: Talk to us about the well-known phrase: “Location, location, location.”
Wirtz: It really can mean multiple things. We talked about our Target Market Real Estate process, which is Right People, Right Market, Right Real Estate. I think location means all three of those. So, for a franchisee, a lot of times location means: “I want it by my house and the familiarity of what’s around me. I know the people, who to market to and I’m comfortable.” Second, location is marketing people, and we’re very passionate that marketing and real estate need to go together, because marketing defines who your customer is and the demographic makeup and lifestyle segmentation, which is also the spending habits of the demographics. Location is very driven on demographics. Third location is going to be about the characteristics and the economies of the real estate. You need to look at the different meanings of those locations and for a good valuation, you use more of a decision matrix.
For the complete interview, tune in to FranchiseBusinessRadio.com.
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Pamela Currie has 20-plus years in franchising. As a certified franchise consultant, Pamela helps individuals make an educated and informed decision when selecting a franchise. Pamela enjoys being a resource and partner in helping people find a franchise that aligns for them. Interested in franchise ownership? Contact Pamela, Pam@FranchiseIntellect.com for a complimentary consultation.