A — January 11 - 24, 2013 — Mid Atlantic Real Estate Journal MAREJ A dvertisers D irectory Bergman Real Estate...................................................... 12A BL Companies.................................................................... 7B Blake Real Estate............................................................ 15C Brasler.............................................................................IC-B Bussle Realty Corp.......................................................... 11A Cenova.............................................................................. 27A Cooper Horowitz................................................................ 7A Cushman & Wakefield.............................................. 17A, 5B Doroshow Pasquale KR................................................... 27A Earth Engineering.................................................... 12A, 2B Eastern Union Commercial. ........................................... 10C Fowler Route Company................................................... 27A Griffin Land....................................................................... 7B Hinerfeld Realty Co..................................................... IBC-A Hinerfeld............................................................................ 1B ICREW NJ....................................................................... 20A Jackson Cross Partners................................................... 14C Kaplin Stewart. ........................................................... 2A,2C Keast & Hood............................................................... IBC-B Landcore........................................................................... 10B Landmark Engineering..................................................... 3C Longview Investments...................................................... 3A M Miller & Son.................................................................. 3A Marcus & Millichap........................................................... 5C Meridian Capital Group................................................BC-C Metro Commercial............................................................. 7C NAI Summit....................................................................... 7B NRC.................................................................................... 1A PenCapp Properties........................................................... 7B Poskanzer Skott Architects............................................. 21A R&J Control..................................................................... 12C Regal Bank............................................................ 14A, BC-A RT Environmental............................................................. 4B Sebco Laundry Services. ................................................. 10A SHELDON GROSS Realty.............................................. 10A Subway......................................................................... IBC-A The Green Group............................................................. 11C The Kislak Company....................................................... 14A Tristate REAELTORS...................................................BC-A Whitesell.......................................................................... 13A WOLF Commercial Real Estate. .................................... 16A
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Mid Atlantic R eal E state J ournal Publisher ............................................................................Linda Christman Co-Publisher .........................................................................Joe Christman Section Publisher ................................................................Elaine Fanning Section Publisher ..................................................................Andrew Hicks Senior Editor/Graphic Artist ................................................ Karen Vachon Graphic Artist/Social Media Specialist ............................ Rachel Rugman Office Manager ....................................................................Joanne Gavaza Editorial Consultant .............................................................. Ben Summers Guest Columnist .................................................................Heather Kreiger Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly P.O. Box 26 Accord, MA 02018 (Mail) 312 Market Street, Rockland, MA 02370 (Overnight) Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, P.O. Box 26, Accord, MA 02018 USPS #22-358 | Vol. 25 Issue 1 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com
By Heather Kreiger How to Use Competition Mapping for Site Selection
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ompetition mapping offers a quick and easy visual guide of nearby
competitors to a selected site. A retailer looking to open a location in a new area should take competitor data into ac- count when analyzing specific locations. If you were looking to open a pizza shop, you prob- ably would not want to do so in a building that has 6 other competing pizza shops within a 2 block radius. You would more than likely want to be located in an area where there are few competing businesses. According to the SBA (U.S. Small Business Administra- tion), one of the essential ele- ments of a good business plan is a market analysis which includes research on your busi- ness industry, the market, and your competitors. A competitor analysis can include identifying who your competition is, where they are located, the types of products and services they offer, hours
The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
of operation, marketing tactics they use, etc. Knowing where your competition is located can be a primary factor in the market you target and site that you choose. Amore in-depth approach to competition mapping is what is known as a gap analysis. A gap analysis is a report that is compiled from competitor data and market information on a specific location or target area to determine whether there is a surplus or shortage (known as “gaps”) of a product or service. While competition mapping is quick and easy and gives you a visual and understanding of
where your competitors are located, a gap analysis can include much more: • Overall market/location in- formation • Resident lifestyle and shop- ping habits • Business and workforce mix • General demographics such as population and income • Competition data On the flip side, competition mapping and gap analysis can be used to help a new business venture determine the best lo- cation, they can also be used to help effectively market proper- continued on page 3A
Contact: Jeffrey A. Silberman 910 Harvest Drive, Blue Bell, PA 19422-0765 • 610-260-6000 • www.kaplaw.com Other Offices: • Cherry Hill, NJ 856-675-1550 • Philadelphia, PA 215-567-3120 Kaplin Stewart At t o rne y s a t Law Getting you through the maze of real estate law. Strategy. Skill. Success.
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