Services
Market Strategy and Optimization
PSP understands that market strategy and market optimization go hand-in-hand. While it is one thing to understand the opportunities in your market, it is another to be able to locate in every trade area that fits your brand. Careful attention to spacing, traffic patterns, physical and psychological barriers all go into developing a market strategy that optimizes coverage in a market.
Understanding Your Customer
- Demographic profile
- Competition
- Retail generators
- % drive-thru, dining, and carry-out
- % breakfast, lunch and dinner
- Going to work or going home
Understanding Your Market
- As opposed to finding the “first available site” and “knocking out” your first store, we consider your entire development agreement and understand your market as a whole.
Mapping
- Plot existing locations
- Plot competition
- Plot retail generators
- Overlay the traffic counts
- Run demographics for every prospective trade area
Market Strategy
- Based on the mapping exercise, every viable trade area in your market is identified, prioritized and a market strategy is produced.
Drive Market
- PSP site selection professionals drive the market, identify all on- and off-market sites and add them to our map.
THEN, we hire a broker!
- By the time we are ready to interview local brokers, our site selection professionals are experts in both your brand and your market.
We help our clients find the perfect sites.
PSP recognizes that local brokers know their markets and understand retail site selection, but they cannot be expected to be experts on every brand. PSP combines expertise in your brand and the market to make the site selection process efficient and effective.
Pre-Qualified Sites
- PSP does not rely on “On the Job Training” when it comes to site selection.
- By going through the Market Strategy & Optimization exercise, PSP site selection professionals have a very good understanding of your market and brand and can marry the two.
- As opposed to the age-old practice of having a local broker “show you their best sites”, PSP presents sites that already have a high probability of approval.
Tour Books
- PSP’s research on every presented site is thorough:
- Prospective sites are under letter of intent so that the actual purchase price is known at the time of tour.
- If a site’s feasibility is questionable due to various constraints, a test fit/concept site plan has already been completed.
- If additional entitlements are required, they have already been identified.
- The information provided in PSP’s Tour Books is designed to give our clients the information they need to make a “Go / No Go” decision at the time of the site tour.
Site Tour
- For many of our clients, real estate responsibilities are “in addition” to their regular day jobs.
- PSP recognizes that site tours need to be as informative as possible, efficient and unrepeated.
- PSP’s site selection process is a combination of thorough information and perfectly choreographed site tour.
Approvals
- Once a site is given the “Go Sign”, PSP prepares the site submittal packages for both franchisee-level and brand-level approval.
Financial Advisory
We care about our clients' success – now and in the future. From day one, we not only talk with you about real estate, but we also help you think about the other metrics that will lead to your short and long-term success.
Unit-Count Growth
- Unit-count growth…
EBITDA
- …expands overall EBITDA…
Rent-to-Sales Ratio
- …coupled with sound rent-to-sales ratios…
Enterprise Value & Creditworthiness
- …leads to greater enterprise value and increased creditworthiness.
Cap Rates
- Ever-improving creditworthiness drives declining cap rates…
Long-term planning
- …all of which contribute to better and better long-term planning.
Pre-Development
Our “Never Lose a Day” mantra starts in the pre-development phase. PSP’s Pre-Development team manages the due diligence, design and permitting phase of each project, which sets the course for the overall success of the project in terms of budget and timing. The Pre-Dev team navigates the complex jurisdictions and unique challenges that come with every property on behalf of the client. PSP’s New Store Opening and Construction team’s involvement also commences during the pre-development phase thus ensuring budget friendly and client approved design at the time permits are in hand.
Due Diligence
- Manages the physical and legal due diligence of each property
- Title Commitment
- ALTA Survey
- Phase I Environmental
- Geotechnical Report
- Asbestos Survey
- Any other necessary investigations/reports
Design & Permitting
- Preliminary code check
- Site plan approvals by client and corporate
- Pre-Application meeting with jurisdiction
- Manage architect and engineer submittal deadlines
- Oversee any other third-party consultants such as traffic engineers, environmental consultants, surveyors, etc
- Develop relationships with jurisdictions
- Attend public hearings on behalf of development and client
- Coordinate with legal counsel on REA’s, Declarations, Easements, etc
- Civil and architectural plan reviews and approvals
- Health plan reviews and approvals
Construction
PSP’s Construction Management team is involved with your project once the first concept site plan is produced. We then combine traditional construction management with our New Store Opening process to ensure that your project is delivered on time and ready to serve your first customer.
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Lehi, UT
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Port Charlotte, FL
![](https://plazastreetpartners.com/wp-content/themes/plaza_theme/assets/img/line-decorator.jpg)
Midlothian, TX
![](https://plazastreetpartners.com/wp-content/themes/plaza_theme/assets/img/line-decorator.jpg)
Quincy, FL
![](https://plazastreetpartners.com/wp-content/themes/plaza_theme/assets/img/line-decorator.jpg)
Panama City Beach, FL
![](https://plazastreetpartners.com/wp-content/themes/plaza_theme/assets/img/line-decorator.jpg)
Rio Rancho, NM
New Store Opening
PSP’s New Store Opening process is a customized and turn‐key experience that delivers a building that is ready to serve its first customer. NSO understands brand expectations and approval processes, coordinates design with vendors, ensures that all FF&E materials are ordered, sequenced, shipped, received and properly installed. NSO simultaneously coordinates with the operator to ensure timely hiring, food delivery and marketing/grand opening coordination.
![Phase 1](https://plazastreetpartners.com/wp-content/uploads/2022/03/NSO-Section-1-e1648666423302.png)
Phase 1
- Brand Specialist
- Access to Extensive PSP Vendor Network
- FF&E Financing Partnerships Available
- Budget Preparation
- Design Preferences
- Client Approval Process
![Phase 2](https://plazastreetpartners.com/wp-content/uploads/2022/03/Phase-2-scaled.jpg)
Phase 2
- Equipment Contracts
- FF&E Permits
- Procurement
- Installation
- On Site Coordination
![Phase 3](https://plazastreetpartners.com/wp-content/uploads/2022/03/Phase-3-scaled.jpg)
Phase 3
- Store Opening
- Closeout Process
Interested in working together?
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