Element has provided tenant representation and real estate strategy for Discover Strength corporate for the past five years. Recently, Discover Strength embarked on a franchise growth strategy and Element (as preferred real estate services vendor) has assisted the first two franchisees in site location and lease negotiation services for the new Discover Strength locations in Wayzata and Maple Grove.
In preparation for Discover Strength’s franchised growth strategy, Element worked closely with Discover Strength’s executive team to develop a Franchise Territory model, dividing the Twin Cities Metro market into 40 logical submarkets using zip codes as the base geography. Then using Discover Strength customer sales data, combined with detailed demographic and psychographic analysis and GIS (Geographic Information System) functionality, Element helped identify the top Discover Strength market areas. This analysis has allowed Discover Strength to review potential submarkets and provide insight into future location decisions.
These findings were used to determine Discover Strength’s best Tapestry Segmentation categories (ESRI Tapestry Segmentation database segments the United States population into 67 market segments and 14 summary groups which helps understand dominant “lifestyle” as well as “life stage” characteristics of a community). Additionally, the data allowed production of heat maps and the creation of primary and secondary trade area maps that allowed Element to develop drive time estimates to further codify the extent to which a Discover Strength client is willing to travel for Discover Strength services.
You can learn more about tenant representation, site location services and demographic analysis on the Element website or contact Ian McRoberts.
Discover Strength is a personalized strength training gym that offers 1-on-1, small group, and virtual trainings from educated, expert trainers. With 30–45-minute total body exercises,Discover Strength training sessions are backed by a scientific approach to safely and efficiently build muscle. The franchise has six current locations in the Minneapolis / St. Paul Metro area with the addition of the Wayzata andMaple Grove locations to be delivered later this fall.
You can learn more about Discover Strength and how to become a franchise owner here.