Determine The Demographics

Area demographics are critical to franchising. Not only will you depend on demographics for your market analysis, you’ll rely on them when you determine the scope of the territory you’re going to grant a franchisee. There are a lot of companies that specialize in extrapolating U.S. Census information and for a fee you can get just about any report you need. Reports that are cross-tab or have nested requirements are very expensive and not too many companies can supply them. Be sure you know what you really need in a report before you request it. Another option is to do your own research. Depending on how recent it is, you may be able to use the census data without extrapolating. Census data is available online at no charge. There is also a great deal of information on state websites. You can usually find maps, population and industry data. Other sources include free demographic websites such as ePodunk.com. This site provides in-depth information about “more than 46,000 communities around the country, from Manhattan to Los Angeles, Pottstown to Podunk.”