Secret shopping (or Mystery Shopping) is analyzing a business by posing as a customer. This allows us to ask questions and find information that otherwise can't be found online or through a 3rd party source.
We're currently considering purchasing a space to convert into self storage, but we need to learn more about the local market and how that will affect our business.
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In this video, I take two team members from my company Cedar Creek Wealth, Brian and Conner, with me to go secret shop the competition in our area to help us determine if this is a deal that we want to pursue.
Brian, the VP of Acquisitions, is looking for key factors in the market that will tell us if this market has room from growth or not.
While Conner, the Director of Project Management, will help us understand a little more about secret shopping and some of the reasons why we secret shop different vendors.
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