I'm opening a massage therapy business, and the daily traffic count of cars that drive by my space is 38,000. What is the average percentage of people that I could safely assume will see my sign and actually patronize my business in a month? Is the average 1%? .05%? I've looked all over the internet and haven't been able to find an average percentage.|||I think there are too many variables to predict it based on empirical evidence. Some of the variables:
1. Speed of traffic: if the cars have to stop at a signal in front of your location that is obviously much better than if they can whiz by.
2. Demographics: the cars passing you by might be young and stressed out and live in your area (good targets)...or they might be delivery drivers that don't hang around in the area after work (poor targets)...etc.
3. Sign characteristics: the size, color, attractiveness of your sign, especially relative to other nearby signs, is important. You want the passers-by to look at your sign first and foremost.
4. Need for product or service: Some stores offer products that are in high need (grocery store, gas station, restaurant, clothing, etc). These would attract a higher percentage of the traffic than an optional service such as yours.
5. Economy: Past empirical evidence might be poor predictors for the current economy. In general people may be spending less money than usual, particularly on discretionary spending.
6. Appeal: Once a potential customer is in the door, you may do a good job or poor job of "closing the deal". You would need to consider how price-competitive you are, how experienced are the employees, how clean is the facility, etc.
None of this should discourage you. But these are probably just some of the reasons it is hard to predict the success of a new business. I wish you well as you embark on a courageous venture. I ran a screen print company some years ago and it was all consuming! If you have a passion for it, you will be just fine.
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