Start-Up Seeks to Strengthen Site Selection Through Big Data
- May 21, 2015
A website that launched earlier this week promises that it will bring “the next evolution in retail site selection,” combining “advanced location intelligence with a seasoned brokerage services team.” SiteZeus is based in Tampa, Fla., and is intended to serve retail, healthcare, restaurant and hospitality brands with more than 10 locations.
“SiteZeus aims to deliver extremely powerful location intelligence and real estate brokerage services to retail and hospitality brands through a powerful yet intuitive web-based technology, that is, ‘advanced location intelligence,’” Hannibal Baldwin, SiteZeus’ co-founder & CEO, told Commercial Property Executive.
“At its core,” he added, “SiteZeus acts as a big data engine, aggregating and consuming billions of diverse data points relevant to retailers and restaurants alike, transforming this overwhelming data noise into actionable, decision-making data in real time … It will be one of the most intuitive web-based, big-data applications in use today. The site consumes demographics, sociographics, climate data, transportation options, nearby competitors, churches and schools, parking, visibility, and other info.”
The start-up’s capabilities, according to the company, address “the legacy site selection practice, which typically involves labor-intensive manual processes, static demographic analysis, inconsistent rankings and decisions based on intuition, all of which results in wide disparities in the unit economics.”
The site has been in beta since October, but reportedly has already been used in the company’s real estate decisions by more than 12 newer restaurant chains, including PDQ, Burgerfi, Fuzzy’s Taco Shop, Westshore Pizza and First Watch.
“The amount of time we save during our due diligence process by leveraging SiteZeus allows us to take action much quicker than our competitive set, ultimately resulting in an executed lease,” Westshore Pizza CEO Paul Samson said in the SiteZeus announcement.
SiteZeus was co-founded by Baldwin, COO Keenan Baldwin and CTO Azad Ratzki, who drew on their experience in technology development and expanding restaurant and retail concepts. Their goal, the company says, has been to automate data sourcing, aggregation, analysis and presentation, thus letting users essentially become their own site selection consultants.
“We’ve developed a platform that enables brands of all sizes to take advantage of tools and data that were once cost-prohibitive and reserved for data scientists, analysts and consultants,” said Ratzki in the announcement. “Taking this data and transforming it into easy-to-understand and actionable information” is the SiteZeus mission.
The technology reportedly consumes more than 3 billion nationwide data points within behavioral demographics, transportation patterns, points of interest, climate, sales cannibalism, social media, SEO and real estate attributes such as parking, access and square footage.
SiteZeus is free for companies that engage in the SiteZeus’ fully integrated services platform, that is, that avail themselves of its brokerage services. For companies that opt to use the technology only, SiteZeus offers a scalable pricing structure that allows them to pay per new site.
The company spokesperson told CPE that SiteZeus recently closed Series A funding led by Chris Sullivan, co-founder of Outback Steakhouse.