5.1. SR 4-15-2002 - Laserfiche WebLink

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Elk River, Minnesota Market Study (CRO002 ~ February 2002) Page 4 Trade Area Delineation The trade area is defined by natural boundaries, the existing road network and the sites' relationship to competition. The trade area is located in Sherburne and Hennepin Counties and extends from County Roads 11 and 75 in the west to Now Then Boulevard in the east, and from 271s' Avenue in the north to the Mississippi River and 60* Street in the south. At its widest points, the trade area extends 15.6 miles north to south and 18 miles east to west. Personal checks for purchases the weekend prior to the start of field work were monitored to assist in the determination of the draw of Northbound Liquor. From the subsequent list it was determined that approximately 79% of the customers lived with the designated trade area. A draw of 80 was used in the LOCUSTM 2000 model. Population/Demographics Potential P.C.E. 1990 Census Population 2000 Estimated Population 2002 Estimated Population 2005 Estimated Population $12,681,701 $217.97 33,904 52,644 58,180 69,356 The current population in the trade area is 58,180 people and the average P.C.E. is $217.97, ranging from a high of $233.37 in Sector 3 to a low of $209.47 in Sector 12. The total potential is $12,681,701, and the 17 facilities identified are receiving $9,461,500 or a 74.61% market share. Total float, which consists of stores located outside the study area, small off-sales areas in bars, minor facilities and leakage is $3,220,201 or 25.39%. The 1990 median income for the trade area is $41,966 with an average family size of 3.1 people. Its demographic makeup is 96.8% white, 0.3% black, 1.2% Hispanic and 0.5% Asian, with 5.7% under the age of 18, 3.1% over the age of 65, 0.0% college and 0.1% military. Elk River and its surrounding townships and communities constitute one of the fastest growing areas in the metro area. Elk River increased its 1990 population from 11,143 people to 16,447 people in 2000 or 4.76% per year. Elk River's current increases are expected to be 4% per year for at least the next several years. Most of this growth will be on the east side, in Sector's 7, 8.3 and 9, and on the west side in Sector 10.1. In the surrounding communities of Big Lake and Zimmerman and Ostego, growth has been strong, as well as the surrounding townships. The entire trade area is projected to increase by more than 5% per year in the next several years. Dakota Worldwide Corp. 4801 81~ Street, Suite 105 · Minneapolis, MN 55437 Telephone 800.475.4505 · Fax 952.835.4461