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field <br /> Research Inc. <br /> <br />December 11, 2001 <br /> <br />II <br /> <br />[] <br /> <br />BI <br /> <br />Mr. Dav'e Potvin, Manager <br />Northbound Liquor <br />19348 Evans Street <br />Elk River, MN 55330 <br /> <br />I <br /> <br />Dear Mr. Potvin: <br /> <br />[] <br />l <br />I <br /> <br />Thank you for requesting that Max field Research Inc. submit a proposal to conduct a market <br />analysis to determine the potential demand for an additional municipal liquor store in Elk River, <br />Minnesota. The enclosed proposal expands on our initial correspondence sent to you in February <br />2001. <br /> <br />As we understand, the City is now ready to proceed with an analysis for a second liquor store <br />within the City and would like a third party assessment of a proposed site(s) and competitive <br />market factors that may influence demand. <br /> <br />As mentioned previously, Maxfield Research Inc. has conducted these analyses before. Our <br />proposed work program includes: <br /> <br /> · an evaluation of the proposed site and its appropriateness for a liquor store operation; <br />· an evaluation of site characteristics including travel patterns, traffic counts, proposed <br />highway improvements, changes, etc. that will have an impact on potential revenues and the <br />ability to increase market share; <br />· identification of a draw area appropriate for the targeted site; <br />· a review of competitive facilities within the identified draw area including information on <br /> size of facility, revenues per square foot, market positioning and pricing, selection, etc.; <br />· a review of growth trends (households and employment) in the immediate area and the <br /> impact of growth and development on the potential demand for a liquor store; <br />· an analysis of the potential impact on a new facility from the implementation of legislation to <br /> allow the sale of some alcoholic beverages in grocery/convenience store outlets; <br />· calculation of potential demand for a liquor store within the identified draw area and the <br /> square footage supportable given competition and other key factors. <br /> <br />If desired, we can evaluate more than one potential location and assess the best location for the <br />new facility. We have provided for this option within our work program. <br /> <br /> 612.338.0012 (fax) 612.904.7979 <br /> <br />615 First Avenue NE, Suite 400, Minneapolis, MN 55413 <br /> <br /> <br />