Do you work in retail, hospitality or leisure? Would you like to expand to new sites at lower risk?
Resilient brands are still expanding, but are becoming more cautious about site selection. This is why a good quantitative base for prospective investments is so important. Data, location analytics and applied AI can significantly reduce new site selection risk.
Launching new site selection projects without understanding location data wastes significant time on search, review and management decision making. Buying and aggregating various location data sets piecemeal can be complicated and yield mixed results.
Algospark predict sales for new prospective sites using a bespoke tool tailored for client expansion plans. It combines trading data from existing sites with external data (location, demographics, competitors, complimentary brands, visitor numbers, office workers, etc). Do you have a franchise model? Our approach enables you to help new franchisees make investment decisions.
We simplify the complex in a cost effective way to help clients make great decisions.
We are delighted to celebrate the milestone of Gail’s Bakery opening their 101st site in Brunswick Place!
Algospark began working with Gail’s Bakery four years ago when they had 35 sites. Finding new sites used to take a significant amount of management, analysis and review time.
We worked closely with the Property team to develop a framework that predicts sales at new sites by combining trading data with data sets spanning economic, demographic, competition and locations specific factors. We delivered a web based tool that relies on several applied AI models to forecast sales for any location in the UK. It also generates a prioritised list of locations for proactive site search, ie an expansion plan. This means the Property team have a clear plan for target sites, and can easily review reactive opportunities.
We are proud to support Gail’s Bakery with their successful expansion plan.
“Algospark work with us to deliver a data driven approach across numerous areas of our business including acquisitions. We use the bespoke site analytics tool as the baseline for new site evaluation, which we then hone within the local area. This has had a great track record and underpins our new site investment decision making process.” Brett Parker, Property Director.