Your Industry
Research - Part 2

3) Highway traffic:

What to get: The daily volume of traffic passing on the streets fronting your restaurant location, and any nearby highway or other main arteries that will bring you your daily customers.

Where to get it: Try an online search for your local or state government- often they keep these records in their highway department and/or with police information. The local chamber of commerce may also ave the information- it is usually free or very low cost to obtain.

4) Tourism:

What to get: The average number of annual visitors to your area, who will most likely be eating out and can add to your bottom line, although they aren't going to become regulars, obviously.

Where to get it: The local chamber of commerce, visitor's center, tourism board, or other related agency should have a good estimate of this information, especially if you are located in a place that attracts a good number of vacation or convention business. Failing that, you might ask at some of the large hotels in town- they likely have done their own studies and would provide you with a number.

5) Seasonal population:

What to get: If your area has a seasonal population fluctuation- a summer beach season, a fishing season, etc. that brings in people from out of town, or if people leave for the winter or similar circumstances- try to estimate the populations of your area at the various times of the year when they are likely to go up or down. This will help greatly in being able to project your annual sales through the up and down cycles.

Where to get it: Same place as the tourist information.

6) Businesses/Offices

What to get: The number of businesses operating in your area, and the number of workers who arrive each day. This is particularly important if you are expecting to serve a large lunch crowd, and your restaurant is based in a non residential area where few people are likely to come for dinner, shopping, or other activities that would provide you with business during the non weekday, non working hours.

Where to get it: The local chamber of commerce should be able to help with this one- as will a careful survey (by discretely dropping by at different times of the day) of area competitors to see what their store hours are (do they close on weekends- at night?) and what type of crowds they are attracting.

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