OVERVIEW
After years of providing trusted legal representation to a growing number of clients in the Southern California area, a respected local law firm recognized an opportunity to expand its footprint in order to introduce its unmatched reputation to new markets. The firm’s leadership quickly identified numerous attractive untapped territories, but they knew that due diligence was required to avoid jeopardizing their established track record of achieving high annual profit margins across their operating real estate portfolio. The firm turned to DEODATE for our expertise in qualitative and quantitative market analysis, lease negotiation, and corporate real estate portfolio management to provide them with an innovative and data-rich site selection strategy. This strategy would prove to be a key enabler of the firm’s successful expansion into new markets as well as its plans for future growth.
CHALLENGES
Requirements to maintain high-profitability | Competition from larger national firms with greater resources |
Rising commercial real estate costs in favorable markets | Lack of internal data scientists to analyze quickly-evolving datasets |
SOLUTION
DEODATE works with a number of respected law firms and professional services across the US, to help them make data-driven decisions based on key performance indicators (KPIs) collected from their existing and targeted territories. These KPIs include location-specific demographic information like income level and population density, traffic counts, proximity to competitors, potential acquisition targets, partnership opportunities, and legislative/regulatory analysis.
By charting these data points and countless others, DEODATE was able to establish a set of core KPIs that aligned with our client’s established business plan. Furthermore, by being able to analyze and accurately predict shifts in data that are constantly evolving, DEODATE has formed longstanding partnerships with our clients so that they can continue to make informed decisions around their ambitious expansion initiatives.
NEXT STEPS
As the law firm continues to see the ROI in implementing data-driven site selection strategies as part of its portfolio growth plan, they’re also working with DEODATE to identify other opportunities for expansion. These opportunities include building out rich datasets that enable the firm to take proactive steps that support their long-term growth while helping them continue to make sound investment decisions in an increasingly competitive market.
Contact us today to inquire as to how these results were achieved, and how similar, tailored strategies may assist your organization's initiatives.
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