Chapter Name: Identify new sites
Description:This module covers the process of conducting site assessments, including factors such as location analysis, demographic research, market trends, and the competitive landscape. Learners will explore how to assess the viability of new sites based on criteria like customer foot traffic, accessibility, zoning regulations, and proximity to competitors. Additionally, the module includes strategies for evaluating the financial and operational feasibility of new sites, considering factors such as rent, operational costs, and potential for long-term profitability.
Purpuse:The purpose of this module is to enable learners to identify new business locations that align with the strategic goals and objectives of the business. By understanding how to evaluate sites effectively, learners will be able to make informed decisions about where to expand the business, ensuring that new locations will attract the right customer base, generate strong sales, and operate efficiently. This module aims to provide learners with the necessary tools to assess new site opportunities and ensure they are financially viable and strategically positioned to support business growth.
Rational:The rationale for this module is based on the importance of selecting optimal locations for business growth and expansion. Choosing the right site for a new franchise or business operation can significantly impact its success. A poorly located site can lead to low customer traffic, high operational costs, and financial losses, while a well-selected site can provide competitive advantages, access to new customer segments, and increased profitability. By developing the skills to identify and assess new sites, learners will help businesses expand strategically, minimize risks, and maximize returns on investment.
Chapter Assessment
Scope of Practical Skill
Key Requirement 1: Area identified is the most suitable for the type of business and products
Learners must propose new site locations based on demographic data, customer behavior, and business type.
Assessment Questions
Assessment 1 : Identify untapped markets
Learners must analyze potential untapped markets where the business could expand, considering factors like demographics, geography, and economic factors.
Assessment 2 : Conduct feasibility study
Learners are required to conduct a feasibility study for a new site or location, evaluating factors such as location benefits, competition, and infrastructure.
Assessment 3 : Prepare report
After conducting the feasibility study, learners must prepare a report summarizing their findings and making a recommendation about the new site.