Before spending $250,000 on market research, run your best current promotion in five potential markets with just $1,000 each. Measure the lead cost in each one, pick the cheapest market, and expand there. A $5,000 to $10,000 test beats guessing.
If you're like, what market should I expand into? Here's 5 markets we're looking at. Don't spend $250,000 doing all these studies and then building out this location only to find out that the lead cost in that area sucks. Take $1,000, run your best promotion that you win in your current market in all 5 of those markets. See what your lead cost is in all 5 markets. The one that has the lowest lead cost, then open in that market. It's the best $5,000 or $10,000 that you're ever going to spend.
