How to Do a Market Feasibility Study That Validates New Locations for Retail or Service Expansion

Expanding to new areas? Learn how to do a market feasibility study that validates new locations for retail or service expansion. This study looks at population demographics, local demand, competitor density, and foot traffic data to determine suitability. Knowing how to do a market feasibility study that validates new locations for retail or service expansion prevents opening in the wrong area and wasting resources. It helps businesses pick locations that offer both visibility and revenue potential. Whether you're a café, salon, or showroom, this step ensures smart scaling with data-driven confidence and better return on investment.