Peter and I spent a couple of hours last Sunday driving around Uptown and Edgewater to make an inventory of the types of QSRs (Quick Service Restaurants) that exist. This will hopefully let us gain an understanding of what kind of businesses and franchises already exist to help us in our selection of a franchise ourself.
For Uptown, I think, Peter and I agreed that it is more low-income than Edgewater. I think that both of us feel that Edgewater is a better location for a sub sandwich shop like Quizno's. We spent the drive arguing about whether there is enough people walking around the neighborhoods to how fast cars drive past a specific location. I think that the final selection will be a combination of what real estate is available and some of these factors.
I think personally that these will be what is key for a Quizno's:
1. Higher disposable income
2. Lunchtime Drive/pedestrian traffic (direction people drive to get to do lunchtime errands like shopping, mailing, maybe)
3. Ease of parking
4. Homebound pedestrian traffic (to pick up dinner on the way as they get off from the El maybe)
5. Early dinner options (places people go to pick up a quick dinner to go to a movie or something)
6. Weekend business traffic (shopping, retail)
These are very tough criteria. I think that in order to get all the above, we would have to pay a lot of money for a lease. It may be worth it though. However, I think a good balance may be struck if we get lucky. But then again, the franchisor will have to agree to the location. Anyway, I think we learned a little bit that Edgewater has some potential, and if we can somehow predict where the major shopping location will end up being in the neighborhood, we may just be able to get a prime location. I guess, I need to call up the local chamber of commerce to see if there are any plans of malls being built.