Understand your target demographic 

Before even beginning to drool over potential franchise locations, you need to understand who your target demographic is.

This will help you determine what part (or parts) of town will provide the best opportunity for you to succeed. If you need help understanding the target demographic, reach out to your franchisor.

Choose a Town

If you don't want to move and are ready to build a successful franchise in your hometown…great! Go ahead and check this off your list.

However, if you are willing and able to move in order to capitalize on potential business, this is a worthwhile step.

Find parts of the country with a high concentration of your target demographic and start researching those areas. 

Research Your Ideal Areas

Once you have narrowed down where your target demographic is most apt to shop, you should have a few ideal areas handy. Take time for thorough research. The time investment will pay off. Don't forget to consider a few critical things, such as accessibility and parking availability.

If your ideal area is the prime location for your target demographic, but parking is difficult or traffic is a nightmare, you may want to scratch that location off your list.

Make Friends with Your Local Realtor

Not only will your local realtor be able to help guide you along each step of the way, a good one will be privy to local development plans. They may even be able to find a nice up-and-coming location no one else knows about, yet!

Understand Costs

Now that you've further narrowed down possible locations, look into the costs. You want to fully understand rent prices and terms, and any specific regulations, taxes, and fees. Some areas will be more cost-effective than others. Try to find a solid balance between cost and location if you are able.