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Elk River, Minnesota Market Study (CRO002 ~ February 2002) Page 26 <br /> <br />Analysis <br /> <br />Assumptions <br /> <br />The sales projections for the second Northbound Liquor are based on the following key <br />assumptions: <br /> <br />· Population trends will continue to occur at rates projected by the local government <br /> offices. The various city population estimates/projections are primarily based on actual <br /> building information rather than growth models. <br /> <br />· The store will have 4,000 sales area square feet, with 8,000 total square feet. <br /> <br />· The store will mirror the operations and physical conditions of the existing Northbound <br /> Liquor Store, with good beer presentation, well-merchandised wine, specialty departments <br /> and courteous employees with good product knowledge. <br /> <br />· Both Northbound Liquor stores will maintain a good price image in the trade area. <br /> <br />· Hours will be the same as the existing store, 9:00 a.m. to 10:00 p.m. Monday through <br /> Friday and 8-10 on Saturday. <br /> <br />· Projections are based upon constant 2002 dollars, with no adjustments made for inflation <br /> and an opening date of mid 2004 is assumed. <br /> <br />Future Considerations <br /> <br />There are several market changes planned or underway that will affect the trade area. Monticello <br />and St. Francis are now constructing additional space for their municipal stores, and the City of <br />Rogers is expected to start construction within the next year on a replacement off-sale unit that <br />will be located adjacent to the Super Target now under construction. In addition, Riverview <br />Liquor in Ostego may remodel, and Wiser's Liquor in Ramsey (open approximately six months) <br />will mature its image in the marketplace. In the next several years, wine sales in Minnesota <br />grocery stores may be allowed and a test is included in this study to show the effects on the <br />Northbound Liquor Stores with wine in the supermarkets of the trade area. <br /> <br />Dakota Worldwide Corp. <br />4801 81~ Street, Suite 105 · Minneapolis, MN 55437 <br />Telephone 800.475.4505 · Fax 952.835.4461 <br /> <br /> <br />