Utilizing Innovative Location Analytics to Enhance the Gas Station Site Selection Process

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Somerled Properties is a real estate development company that typically purchases land, constructs the buildings, and enters into long-term leases with a corporate company or franchise. It has used this model at Nova Scotia locations such Pictou, Antigonish, Yarmouth, and Dartmouth where a combined retail arrangement of a gas station combined with other retail businesses such as quick service restaurants, express stores, and/or convenience stores share a location. It is common to see this arrangement providing customers the convenience of making one stop for all of their needs. The selection of a site location is a critical step in the overall success of these operations.****The proposed project will focus on site selection opportunities in Nova Scotia, however it's expected that the technology can be applied across Canada. Potential trade areas will be ranked and analyzed based on competitors, existing business cannibalization, and potential sales. A key part of this research project will be developing a model to profile customers driving through the trade area. ****Somerled Properties would like to collaborate with NSCC - COGS to investigate opportunities to exploit innovative location analytics to support business location investment decisions.****