How can I estimate the amount of customers I might get based on walk-by traffic?

Question

I'm going to be running a cafe out of an art school, and it's been hard to figure out how to estimate potential customers. Usually new businesses preparing a business plan use their nearest competitor as a model. I considered using our nearest competitor, dunkin donuts, as the model, but they are on the main road and we are on a side street, and will be getting most of our business from within the art school itself, so it's like comparing apples and oranges. I have to use the number of people coming in and out of the art school in place of the usual walk-by and drive-by traffic count, as a way to estimate potential customers. How can I estimate potential customers based on that amount? What percentage of walk-by and drive-by traffic can a cafe expect to get on average? Were going to be a "coffee bar" like dunkin donuts or starbucks, not a true cafe or restaurant.

Answer 1

If you can obtain all supplies from overseas and appear to be authentic-Americana...you'll succeed. No other businesses have done so, yet, but there's always a first time. Good luck!

http://www.youtube.com/watch?v=EotM7FH8u...

HINT: If there was a coffee shop that offered warm baked chocolate chip cookies like mom made...I'd be there daily.

BONUS: Money flows toward value. Always. Be the value center of your community. We'll come.

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Answer 2

you don't...

it's called having a quality product at reasonable prices. It will sell itself. LOCATION LOCATION LOCATION.

Answer 3

Give out surveys to the people that walk past, use their information to give a guided amount as to who would use your shop and spending how much.

These are specific data which give you a far more exact idea :)