Last month the MFC Board of Directors approved funding to contract a market study. Our Strategic Planning Working Group selected Dakota Worldwide to conduct the market study; we’ll be working with Marcia Pfeifer.
To conduct the study, Marcia will first conduct field work in the Montavilla neighborhood and surrounding areas to gather information about our local conditions, such as: competitors’ sizes, sales volumes, and depth of natural foods assortments; recent building permits; transportation options and information about possible road changes; and other data about area’s population and buying patterns. Once the field work is complete, Marcia and her team will load these data, along with other demographic data, into Dakota Worldwide’s proprietary model. The model will output a 3-year sales forecast for several different potential store locations within MFC’s “trade area.” Marcia and her team will analyze these possible store sites for their suitability for a natural food store. MFC can use the results of the market study to target our store location search to the optimum areas, as well as to demonstrate the financial viability of MFC to lenders.