How Good Is Your Location?
This comprehensive evaluation helps you objectively assess your martial arts school location. Answer the questions, circle the appropriate responses, and tally your total score at the end.
-
Do you have a Best Buy, Sears, or well-known food or drug store in the same center as your studio?
a) Yes – 10
b) No – 0 -
Is your studio in the main body of the center?
a) Close to the busiest store in the center – 10
b) On the same side, but not close – 5
c) Not on the same side – 2
d) Not applicable, or no store that is busy – 0 -
Does your studio face a street?
a) Major street – 10
b) Minor street – 5
c) Does not face street – 0 -
Can your window be seen from the street?
a) Easy to see all of it – 10
b) Can see some of it – 5
c) Can see none of it – 0 -
Is there another business that draws a large number of parents and target market people into your center, such as a dance studio, bank, or deli?
a) Yes – 10
b) No – 0 -
Does the center have access from both sides of the street?
a) Yes – 10
b) No – 0 -
Is there always lots of parking available?
a) Always lots – 10
b) Usually lots – 5
c) Sometimes not much – 2
d) Very little – 0 -
Is there a major fast food chain in your center?
a) McDonald's, Burger King, KFC, etc. – 10
b) Denny's, Perkins, Shoney's – 5
c) Local chain, not national – 2
d) None – 0 -
Are there any other full-time commercial martial arts studios within a two-mile radius of your location?
a) None – 10
b) One – 5
c) Two – 2
d) Three – 0 -
Do you have a large marquee-type sign on the street?
a) Large marquee sign with great visibility – 10
b) Good-sized sign with good visibility – 5
c) OK sign and visibility – 2
d) No sign, or very poor visibility – 0 -
Are there lots of people within a three-mile radius of your studio?
a) 40,000+ – 10
b) 30,000 – 5
c) 20,000 – 2
d) Less than 10,000 – 0 -
Is your studio location surrounded by houses?
a) Houses on all four sides – 10
b) Houses on three sides – 5
c) Houses on two sides – 2
d) No houses around the studio – 0 -
Is there a major draw directly opposite your studio that would be a benefit to you in terms of visibility?
a) Yes – they must see my studio as they leave – 10
b) Yes – they may see my studio – 5
c) No – 0 -
Is there a school close to your studio?
a) Half a mile to a mile – 10
b) A mile to two miles – 5
c) No – 0 -
What is the makeup of your center?
a) Retail only – 10
b) Retail plus offices – 5
c) Industrial area – 2 -
What is the income of your market area?
a) Middle income – 10
b) High income – 5
c) Low income – 2
d) Poor – 0 -
What is the average age of adults in your area?
a) Young adults (20-35) – 10
b) Middle-aged adults (36-55) – 5
c) Older adults (56+) – 2 -
What is your total rent amount per sq. foot?
a) Under one dollar per sq. foot – 10
b) Under two dollars per sq. foot – 5
c) Under three dollars per sq. foot – 2
d) Over three dollars per sq. foot – 0
Your Total Score:
- 140+: Your location is excellent. You can spend less on advertising due to high traffic.
- 120-139: Your location is good. Expect to spend an average amount on advertising (about 10% of gross).
- 95-119: Your location is average. Plan to spend extra on advertising and stay alert for better locations.
- 89 or less: Your location is poor. Start looking for a new location now.
While this evaluation provides an objective analysis, the success of a school also depends on the X Factor—your teaching skills and ability to attract and retain students. Remember, entrepreneurship involves navigating through various challenges, and your unique strengths can significantly impact your success.