Business Plan Dunkin Donuts

How can I estimate the amount of customers I might get based on walk-by traffic?

I’m going to be running a cafe out of an art school, and it’s been hard to figure out how to estimate potential customers. Usually new businesses preparing a business plan use their nearest competitor as a model. I considered using our nearest competitor, dunkin donuts, as the model, but they are on the main road and we are on a side street, and will be getting most of our business from within the art school itself, so it’s like comparing apples and oranges. I have to use the number of people coming in and out of the art school in place of the usual walk-by and drive-by traffic count, as a way to estimate potential customers. How can I estimate potential customers based on that amount? What percentage of walk-by and drive-by traffic can a cafe expect to get on average? Were going to be a “coffee bar” like dunkin donuts or starbucks, not a true cafe or restaurant.
I meant “we’re going to be a coffee bar”. Also links or references would be great

Give out surveys to the people that walk past, use their information to give a guided amount as to who would use your shop and spending how much.
These are specific data which give you a far more exact idea

725 west 181st street Washington Heights Store for rent 2400 Sq.Ft.. New York Real Estate

Be Sociable, Share!

•