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Fitness & Healthcare
Background
Expanding your business to new territories and tapping into new consumer bases requires data-driven planning and the ability to direct resources in the right direction. An American fitness corporation wanted to expand its business into new markets by understanding the potential of its existing business outlets along with high-potential locations for expansion.
Challenges
The fitness franchise lacked access to several critical and non-critical parameters regarding store performance. Our solution was used to enhance their decision-making capabilities by leveraging the power of Geospatial Artificial Intelligence (GeoAI) to answer the following questions:-
- What is the demographic and comprehensive catchment area profile?
- What is the best location to open a new location?
- Will opening a new location in the metro area have an impact on the existing outlet within a radius of 2 km?
- How are competitors pricing their services in similar geographies?
Solution
Our Market Development and Expansion Solution was used to determine if the fitness centers were located in the most optimal locations. If not, then where should the centers be located along with information on income levels and spending patterns in those areas? This provided the client with actionable insights into variables such as urban mobility, delivery routes, competition mapping, demographic analysis, SAT data, and risk factors that impact sales and profit margins.
Visible outcomes
Using the Market Development and Expansion tool, the fitness corporation uncovered insight into several granular geodemographic data that helped them to understand how consumers in different geographies impact the success of their business. Using location-based information and GeoAI, the client was able to decide on site selection for new locations to find the right strategies and partners for their expansion. This resulted in the expansion of three new fitness centers.
