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Locating The Next Red Lobster Restaurant
Transcript of Locating The Next Red Lobster Restaurant
Red Lobster Restaurant
design by Dóri Sirály for Prezi
Company founder Bill Darden opened his first restaurant, The Green Frog, at age 19. From the beginning, Bill’s restaurants focused on quality and service. With a passion for seafood, it was only a matter of time before Bill and his team opened the first Red Lobster in Lakeland, Fla., in 1968. By the early 1970s, the company expanded throughout the Southeast, establishing Red Lobster as the leader among seafood and casual dining restaurants.
Location Strategy is a results-oriented retail real estate consulting firm providing retailers, investors, shopping center managers, municipalities and institutions with fact-based, decision-making research. While research is often associated with identifying new opportunities, it is also a powerful and effective tool in the area of asset preservation.
Factors That Affect Location Decisions
Exchange Rates and Currency Risk
Political Risk, Values and Culture
Proximity to Markets
Proximity to Suppliers
Proximity to Competitors (Clustering)
1. MapInfo has 72 clusters that provide socioeconomic profiling. These profiles provide interesting reading and data for class discussion. MapInfo would tell you that the application are virtually limitless.
2. Many differences can be identified in an assignment or class discussion, but restaurants want disposable income, while retail wants high traffic, and manufacturing wants a focus on costs, infrastructure and low taxes.
3. Darden has shied away from urban locations; high location cost do not fit in its current model, but Darden has found fertile ground in first and second tier suburban and exurban/small. Incidentally, in 2010, Darden announced it will begin to open facilities outside the U.S. and Canada.
•Know your business
•Find your customers
•Get a flavor for the community
•Scope out the competition
•Consider traffic and accessibility
•Assess the building
•Balance cost with other factors
1. Describe the psychological profiling clustering system. Select an industry, other than restaurants, and explain how the software can be used for that industry.
2. What are the major differences in site location for a restaurant versus a retail store versus a manufacturing plant?
3. The majority (92%) of the Red Lobster Restaurants fall into three of these classes. Which three classes do you think the chain has the most restaurants in? Why?