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<br /> Y ~®`l~ ~r® ~Y <br />~ t~g ~~ro`~~~l~QS ~~®I <br />~~t <br /> L <br />UNIVERSITY OF MINNESOTA <br /> . <br />~ ~~G~) ~G~K~Z(~ ~4L~~®//bGI <br /> ViSlt wwW.extenSlOn.umn.edll~COmmun' <br /> <br />~' <br />¢ ~~~~ AA <br />ANALYSIS <br />VW tlYat /s Trade APea A6!lBlysES ? Perham Trade Area 2i Code <br />A Trade Area Analysis organizes data from multiple sources into a _J - '""° - <br />_ <br />comprehensive description of who shops in your community - ~~ ' ,\ ~ - , <br />demographics, purchasing power, as well as the lifestyles and values °~ <br />held by shoppers. Extension organizes this data into understandable ~ - ~ - <br />~ <br />reports and rich community discussions. Ultimately, this information ---`" , <br />~. - <br />can strengthen a business community's vision by meeting the needs of ~_ _ <br />their customers and tapping available opportunities. -- - <br />-- <br />What informatdon does a community learn in a Trade Area Analysis ? <br />The report includes a breadth of information of interest to local retailers and community leaders, including <br />• The geographic reach of the community's trade area <br />• Types of customers in the trade area <br />• Demographics and income levels of households in the trade area <br />® Potential spending in the trade area across multiple retail categories, with comparisons to the state <br />• Types of media and leisure activites used by the varieties of households in the trade area <br />How can Trade Area Anadysis be used by businesses and communities ? <br />Chambers, economic development professionals, local businesses, tourism organizations and elected officials <br />can tap this information to answer key questions such as <br />• What other businesses might fit in our community ? <br />• How can we effectively use media to market our community or business? <br />• Do I have a viable business plan for this market ? <br />• How can we change our inventory or expand our product lines to increase profits ? <br />® What community events or festivals would attract our trade area's audiences ? <br />• What main street strategies would work for our market ? <br />What wield our community receive with our Trade Area Analysis ? <br />Communities can choose to receive a simple Trade Area Analysis summary, or a customized report <br />Sim le Re ort Customized Re ort <br />• Works well for traditional main-street markets • Works well for larger markets or those with <br />with a small customer base seasonal or tourism business <br />• The report will describe customers in your zip • The report is customized from addresses of <br />code customers on local business lists <br />• A two-hour workshop will engage community • A two-hour workshop will engage community <br />discussion about results and future plans discussion about results and future plans <br />• Cost : $750 • Two consultations with a local study group <br /> will guide the analysis <br /> • Cost: To be determined <br />What else does Extension offer retailers ? <br />• Retail Trade Analysis reports describe a town or county's retail strengths, weaknesses and patterns. <br />• Small Stores Success Strategies Workshops help small stores survive in a big box economy. <br />• Business Retention and Expansion programs get citiznes engaged in meeting the needs of local business. <br />earn more a out ow Extension can hedp your community shape its future <br />