Painting with a Twist selects SiteZeus to help make intelligent growth decisions
TAMPA, Fla., Sept. 30, 2019 /PRNewswire/ -- Smart growth, including managing cannibalization risk is a top priority for any growing franchise. In the real estate world, cannibalization occurs when sales at an existing store decrease because some customers begin shopping at a new nearby store or competitor site. Painting with a Twist will leverage SiteZeus' location intelligence platform to understand cannibalization in the sip and paint category as it continues to maintain its category-leading status and ramp up franchise development.
"Our brand has already achieved a sizable footprint with over 300 locations. As we move to the next phase of growth for our company, SiteZeus will arm us with the tools to make better, data-driven decisions with timely accuracy," says Richard Leveille, Chief Development Officer at Painting with a Twist.
SiteZeus' cannibalization studies allow brands to look beyond traditional trade areas, like concentric rings and drive times. "With mobile location data, brands can now visualize a path to purchase patterns for any location," says Robert Cherrington, Executive Vice President of Sales at SiteZeus. "That data can be valuable in equipping brands with a clear visual on where traffic from any two locations in the same market might have a potential overlap," he adds.
Traditionally, cannibalization studies have looked at loyalty and POS data for existing and newer locations to determine sales impact. These methods only account for existing customers, not potential customers. SiteZeus leverages Mobile Location data, also known as mobility data, as well as Geosocial data to represent both. Brands can now see customers two hours before and two hours after visiting any given location and can visualize potential customers across markets.
This data helps brands pinpoint optimal locations with safe distances from existing stores to prevent sales cannibalization.
Painting with a Twist will utilize the SiteZeus platform to:
- Conduct impact analysis to assess the performance of existing studios and identify opportunities where changes could enhance overall sales;
- Help identify optimal locations for new studios; and
- Ensure that new studios are not having a negative impact on sales of existing franchisees.
About SiteZeus
SiteZeus' location intelligence platform leverages A.I. and machine learning to create fast, accurate, and transparent predictive modeling. Multi-unit brands use the A.I.-powered platform to make confident, data-driven decisions to solve for infill expansion, greenfield growth, remodel analysis, relocation analysis, and closure analysis. For more information on how SiteZeus' dynamic modeling can help your company, visit: https://sitezeus.com/
About Painting with a Twist
Painting with a Twist, based in the New Orleans, Louisiana metropolitan area is the original and leading paint and sip franchise with 320 studios in 39 states. Nationally, guests have painted more than 10 million paintings at studios throughout the country since Painting with a Twist started franchising in 2009. The company maintains a strong focus on giving back to the local community and was recently recognized by the International Franchise Association's Franchise Education & Research Foundation's Franchising Gives Back Awards. To date, Painting with a Twist has donated more than $5 million through its charity arm, Painting with a Purpose. As the fastest-growing franchise in the category, Painting with a Twist has been ranked the No. 1 Paint and Sip franchise as part of Entrepreneur magazine's annual Franchise 500 edition for the past six years. For more information about Painting with a Twist, visit: https://www.paintingwithatwist.com/
SOURCE SiteZeus
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