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A Destination, A Location or Both?

[fa icon="calendar"] 10.04.2019 / by Demetree Real Estate Services

 

What makes consumers go out of their way?

Have you ever considered whether your business is a 'location' or a 'destination'?  It's really important to understand which one of these models best describes your business.  For instance, the way you brand and advertise will vary depending on the model that you choose.  

Location Business

Location based businesses depend on high-traffic, visibility and convenience  to succeed. They are typically very dependent on the surrounding demographics. Their popularity is predicable based on empirical data gained from similar models.

Destination Business

Destination businesses, especially destination restaurants, have an almost supernatural force that draws customers through uniqueness, they create an experience.  They set themselves apart with dynamic branding and conscious decision making which relies heavily on the belief that even if they are off the beaten path, people will come.  

Destination Restaurants 

The idea of a destination restaurant originated in France with the Michelin Guide, which rated restaurants as to whether they were worth a special trip or a detour while one traveled by car in France.  

Having high-end decor and a formal atmosphere will not automatically make a 'destination'.  However, add a menu with specific exotic or interesting dishes and ingredients and pair that with a unique dining experience - and it just might be worth the extra effort for patrons to visit.

A destination restaurant is not always expensive fine dining.  Take Cracker Barrel Old Country Store as an example of a destination restaurant.  They're an American chain of combined restaurant and gift stores with a Southern country theme.   The experience is the same no matter which location you visit, which can be a unique experience in itself.

Destination  Retailing

Destination retailing is different from traditional shopping in that when engaging in destination shopping, customers plan a trip to the store in order to spend some good quality entertainment time, rather than simply purchasing the goods and services online.

Today, you see millennial-focused retail lifestyle centers which are indoor/outdoor complexes designed as one cog of a suburban town center machine that includes apartments and office space.  These developments are becoming magnets for university students and young adults who are leaving downtown for the suburbs but still want to live in a dense, walk-able communities.

When Location and Destination Come Together

In a perfect world,  both 'destination' and 'location' worlds can come together to make shopping an event using dining and entertainment to anchor the property.  In the case of a venue like Disney Springs the markets include tourists in addition to locals.  Establishments entice visitors to stay longer and create a sense of vibrancy and liveliness.

1560 N Orange Avenue, Winter Park Tower, Space for Lease

Rendering 2 revised 2

At the Gateway to Winter Park and Just 3 minutes from Park Avenue's iconic shopping District, Winter Park Tower is a prime location. Find a new home for your business with proximity to popular stops in Central Florida such as the Garden District and Downtown Orlando. Available units range from 2,500 SF to 6,900 SF.  See available units.

 

 

Topics: FL, Demetree Real Estate, Demetree Properties

Demetree Real Estate Services

Written by Demetree Real Estate Services

Demetree Real Estate Services has been specializing in providing property management, leasing, development, consulting and construction management services to property owners throughout Florida. We provide the broadest array of commercial real estate services in the market. Our seasoned team is connected and well informed with specialized expertise in delivering service for office, retail, industrial, multi-family, self storage and mobile home park properties.