There is a building on the corner of a hustle and bustle downtown street that keeps having tenants go out of business.
There are three different restaurants that have failed over the past five years.
Now, prospective tenants believe that the building is to blame.
Yet, look at the failures of the previous restaurants, the marketing was non-existent, the food was only okay and the service was slow.
Is it the location?
Is it the building?
Of course not.
The failure of each of these restaurants is from a lack of marketing, lackluster menu and slow service.
The fourth go round is getting ready to launch. So far, there is a vinyl banner hung out front. It has a generic name written in a generic typeface. Not really off to a great start.
Just across the street and down two blocks is another building on a corner that was built to be a restaurant. The first restaurant tenant died a slow and painful death. The food was okay, but nothing go brag about. The marketing was non-existent. For a quick service restaurant, the wait was painfully slow.
But six months ago, a new restaurant decided to give it a go. They changed a few things. Painted the building a bright color, new name, menu with great food, and... a social media strategy to build a tribe and keep them engaged.
Lines around the block. Constantly busy. Double digit growth each month.
It all about the product. If your product is lackluster, it really won't matter how great your location.
Likewise, if your food is fantastic, it won't matter how far out of the way you are, you become a destination spot.
Worry more about your product.
Make sure you are delivering something remarkable.