Case Study FIM: Location Analysis in Real Estate Development
The FIM Unternehmensgruppe is continually expanding, developing and optimizing its portfolio of retail properties. Purchasing decisions are optimally prepared with the help of WIGeoLocation, the online tool for location analysis.
Case Study Overview
Customer: FIM Unternehmensgruppe
Areas of application: Location assessment, location analysis, location planning, real estate development
Product: WIGeoLocation
Goal: Assessment of the potential for retail properties such as purchasing power, purchasing power volume and competition in the catchment area
Use: 5 to 6 active users, including two heavy users
Retail Property with High Potential for Appreciation
The FIM Unternehmensgruppe is an independent specialist for retail property based in Bamberg. The group makes long-term investments in retail properties and in their revitalization and optimization. The goal is to expand their own portfolio. FIM focuses on food retail properties that are already in operation and have a high level of sustainability and potential for further increases in value.
In order to proceed more efficiently and quickly in the pre-selection of properties, FIM has been successfully using the GIS software WIGeoLocation for more than a year.
“During the process of purchasing suitable retail properties, we have to quickly distinguish between irrelevant and relevant properties, i.e. to get an idea of whether a property that is offered to us meets our criteria and is economically promising. WIGeoLocation makes this work much easier for us.”
Adrian Harmansa, Head of Market Research and Analysis, FIM Unternehmensgruppe
Try WIGeoLocation for 1 month for FREE. Get to know all the functions and advantages of the location analysis software!
Location Analysis for the Best Property Purchase Decision
FIM strives to gradually expand their existing portfolio with further valuable retail properties and is therefore constantly on the lookout for suitable locations and properties within Germany.
“I have to analyze every location that is for sale in advance,” says Adrian Harmansa, Head of Market Research and Analysis at FIM. “In order to be able to make an initial statement about the potential of a location, I want to know where and how big the competitors are, what the purchasing power is in the catchment area, etc. This is important for us as an investor as well as for the tenants and the bank. With WIGeoLocation, I get this information at a glance on a digital map.”
In addition, the FIM Unternehmensgruppe implements optimization measures that maintain or increase the value of the property portfolio. That is why Adrian Harmansa uses the WIGeoLocation software to perform daily location analyses for potential new locations, as well as to optimize existing locations. His colleagues at FIM also regularly use WIGeoLocation for location assessments.
How big is the catchment area of a retail property? How big is the regional market potential?
Efficient Location Search in Just 3 Easy Steps
WIGeoLocation shows immediately if potential locations are fundamentally interesting or irrelevant for FIM. “That saves time and work and makes location scouting more efficient,” says Adrian Harmansa.
Because WIGeoLocation delivers the corresponding data in just 3 easy steps:
- First, the FIM employees enter the address of the property into the software.
- Then they select the catchment area (e.g. 10 minutes driving time, 5 minutes walking time).
- The software immediately displays all the relevant information on a digital map.
If
the initial location analysis with WIGeoLocation reveals that a
property is worth a second look, we do an on-site inspection. If FIM
then still classifies the property as interesting, more in-depth
analyses are performed. The management then decides on the purchase
based on the location analysis and the information researched on site.
Try all the WIGeoLocation functions for free. Get your free trial access now!
Location Factors: From Inhabitant to Competition
At FIM, 5 to 6 employees use the WIGeoLocation software each day to help them with every purchase decision. As soon as FIM has an offer for the purchase of a retail property on the table, there are a few things they are interested in. On one hand, they want to know the number of inhabitants and the purchasing power in the catchment area of the property. On the other hand, they want information about the competition. All of these are indicators of the potential of a location.
Since the focus is on retail properties, FIM’s assessment of the market environment primarily looks at other retailers such as supermarkets, drugstores and shopping centers in the catchment area and their distance from the potential property.
Visualization of the market environment in WIGeoLocation: the retail chain stores are relevant in the location assessment
Report function for location analysis
The
FIM team also regularly uses the report function of WIGeoLocation to
automatically generate reports for queried addresses. These reports
clearly summarize all the relevant information and display the results
on a map when needed. These reports are also repeatedly presented to the
decision-makers in the company, tenants and banks, so that they can
quickly gain an overview of the potential of the location or property.
WIGeoLocation - a location report in just 3 minutes. Test the latest version of the location analysis software now!
Adapt the location analysis to meet your needs
The location analysis tool WIGeoLocation also grows with FIM the more it is used. This is because Adrian Harmansa and his colleagues continue to enter new data into the system, for example when they perform on-site research and discover that the sales area of a competitor in the vicinity has changed, thus continuously improving the quality and informative value of the analyses in WIGeoLocation.
In addition, if necessary, individual standardized functions in WIGeoLocation can be adapted to the specific needs of FIM with the help of the WIGeoGIS team, making the use even more targeted and efficient.
Adrian Harmansa summarizes: “WIGeoLocation is a powerful tool that greatly impacts our daily work and makes location assessment much easier.”
Location analysis - further case studies and information
Location Planning for Lotteries - Gambling with Responsibility
Geomarketing supports the Austrian Lotteries with their location planning.
Location Analysis: Case Study Storebox
Rational and fact-based location decisions: Storebox, your warehouse next door, relies on location analyses created with WIGeoLocation.
Location Analysis at the Betting Provider Tipster
When opening locations, betting providers have to adhere to strict distance rules to certain points of interest and provide proof of this to the authorities. Tipster succeeds in doing this with location reports from WIGeoLocation.
Gravity Analysis Software
Do you need a location assessment for stores but you have no expertise in GIS systems? Reliable sales forecasts are also possible without expert knowledge
WIGeoLocation: Fill out the form, test it free of charge & without obligation!
- Non-binding, free test for 30 days
- Test ends automatically without cancellation
- An employee will explain the tool in a short webinar*
Would you like to learn more about location analysis? I will be happy to help.
* Information about the free test access: Standard regions with selected data in Germany or Austria will be made available. In Germany, these regions are districts in Munich and environs, and districts of Vienna and environs in Austria. The products of WIGeoGIS are intended for companies and are not suitable for private use. If you need a one-time market analysis, we will gladly make you a service offer.