IdealSpot Helps Two Separate Members of a Massage Franchise Answer Key Location Questions
A regional developer for Massage Envy contacted IdealSpot, wanting to find gaps and opportunities in their Texas markets. In a separate instance, a franchise owner of Massage Envy wanted help in deciding which locations he should sell off, let the leases run out or re-invest in. Both the regional developer and the franchisee owner are now using IdealSpot to not only audit existing locations and markets, but to find new locations based on customer demand.
Industry Standard Demographic Segmentation
Massage Envy typically targets the median age of 30-40 years and households with an average income of at least $75,000. But what if a neighborhood trends to millennial professionals that rent but there is high-demand for massage and spa treatments? Should the franchisee or regional developer make different decisions in breaking up the market of prioritizing their roll-out or realignment?
Auditing Current Locations
Sometimes it’s not about finding new locations but auditing existing locations. Should you resign a lease? Invest in under-performing locations? Which locations need to close? Which locations are in an ideal spot but only suffering because of poor management?
These are some of the questions that both the regional developer and franchise owner for Massage Envy brought to IdealSpot to get clarity through better data and analysis.
Switching to IdealSpot
IdealSpot allowed the regional developer to:
- Use IdealSpot’s Market Gap Analysis to look at the spread between market demand vs. current competitors in market and find where there are opportunities for more Massage Envy’s
- They combined this with Customer Demand data to decide where to activate new franchisees
- IdealSpot augments their existing datasets, models, and value-add service providers with the only geo-located customer demand data in the industry-providing a holistic view of their target market.
Massage Clinics Market Gap in San Antonio TX October 2016.
Chris Skonk, franchise owner of 11 Massage Envy locations, went through a personal demo with one of our Account Managers where we showed him how to use our demand data to find areas that were worth reinvesting in vs. areas that were depressed for their product or service via Search or Social signal mapping. He also shared his map with his broker and looked at their CBSA holistically, looking at available lease rates closer to where their target customers are-cutting down on their drive-times.
Massage and Spa Treatment demand in Austin TX October 2016.
According to Chris Skonk, “IdealSpot helped me cut through to the more relevant, better data in understanding my target audience and market. By showing me the raw demand for my services, I was able to better understand where my opportunities are, and more importantly, aren’t.”