Torchy’s Tacos Develops Market Plan For Major Metropolitan Area
Torchy’s Tacos wanted to expand into a major metropolitan known for its foodie reputation. To validate and build their market plan for the city, Greg Eickholt, Director of Real Estate Development at Torchy’s Tacos, sought to identify the most promising trade areas for Torchy’s Tacos’ new store locations.
120+
locations and rapidly growing
99th
percentile rankings for potential retail nodes to open in
+46%
Yo3Y growth at a top retail node
The Challenge
Torchy’s Tacos sought to expand into a major metropolitan area known for its highly diverse and competitive “foodie” reputation. How could Torchy’s use market insights to identify the most promising areas to open new store locations in the city?
The Outcome
Using retail nodes — POIs that encompass retail shopping areas within a city or metro — to compare rankings, visit metrics and demographics data, Torchy’s Tacos identified seven prime retail nodes as areas for new store locations and has begun site selection.
Placer helped us evaluate the potential trade areas within a new market and learn how strong the market is, what competitors are already there, and if it’s a fit for us to explore opening new locations. It’s a crucial tool for every stage of growth.
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