Director of Real Estate opens up about how the rising Mexican fast-casual franchise helps new owners choose the perfect site
If you’re going to open a restaurant, getting the location right is perhaps the most important decision you’ll ever have to make — and it’s also one of the first decisions you’ll have to make. In order to help you make the right decision, and give your business the strongest potential for lasting success, Pancheros Mexican Grill Franchise has dedicated team of experts who will help you through the entire process.
Our real estate department, led by industry veteran Nanette Beiner, will help you choose the perfect location based on in-depth market knowledge, data and research. With 71 locations open in 13 states, Nanette has been the driving force in helping franchisees make the first, most important decision in the development process.
While many brands rely soley on statistical models, Nanette blends the art and science of real estate selection to help franchisees choose the right locations. Pancheros studies the demographics and psychographics of your market, to determine which area has the population to support your new business. But experience and knowledge of the market make the difference; Nanette has XX years of experience with Pancheros, and Caribou Coffee, to understand the complexities of each real estate market.
In order to help you understand exactly how Pancheros will support you in choosing a new location, Beiner opens up in this wide-ranging Q&A.
How do you help new franchisees find the perfect site for their restaurants?
Beiner: As Director of Real Estate, I assist franchisees with securing the best possible location for their news restaurants. In order to determine if a location has the strong potential for long-term success, we do a lot of research on the franchisee’s behalf. We do demographic research, traffic pattern research, as well as psychographic and demographic research. We also look at the physical attributes of the site, the type of access the site has, the visibility of the site and the co-tenants of the shopping center.
What does Pancheros require a site to have?
Beiner: Our must-have requirements are end-cap locations in daily-use shopping centers. The shopping centers we typically look for are anchored by a well-known convenience store such as Walgreens, a supermarket or a popular coffee shop. As far as requirements for our locations, we look for 2,000 to 2,400 square feet.
We do require that our locations have a strong daytime population within a two mile radius of your location. About 60% to 75% of our business is lunch, so having a strong daytime population is vital to the success of our restaurants. We like to be located near high schools, colleges, hospitals and small businesses, so that the lunch-time driver is strong.
Do you help franchisees work with real-estate brokers? Do you help them negotiate a fair lease with a landlord?
Beiner: I help the franchisee locate a real-estate broker with market knowledge. If the franchisee doesn’t have a broker they’re working with already, we have a network of brokers that we can tap into if that is a resource the franchisee doesn’t have. We do like the real-estate broker to have restaurant experience so that they understand our brand. Along with that, we’ll work with the franchisee and the broker to develop a market strategy within the territory that they purchased. I’ll also help with site negotiations. We do have a letter of intent to help the franchisee negotiate the best possible economic deal on the lease. We also help them work with the landlord on the entire buildout process.
Why do you think Pancheros is so successful at expanding beyond the Midwest?
Beiner: From a real estate perspective, Pancheros works because of our extensive research in where we put our locations. The more locations we have open across the country, the more our brand awareness grows and that synergy helps drive customers to our restaurants. We’re growing far beyond our stronghold in the Midwest. I can’t wait to see new locations popping up across the country as we continue to grow going forward.