Anderson Economic Group (AEG) was retained by Sodexho USA to conduct a market feasibility study for a historic preservation building near Bowie University, Maryland. Sodexho, a food and facilities management services company, was interested in converting a historic building into a quality restaurant with southern, African-American or Soul Food cuisine.
Anderson Economic Group provided an assessment of the market conditions and likely success of the proposed restaurant. We conducted a site visit of the proposed historical building and rigorous field analyses in the City of Bowie and surrounding communities. We also performed an analysis of local demographics, comparing the proposed development’s trade area with the City of Bowie, Prince George, and Anne Arundel Counties, and the State of Maryland. Our market feasibility analysis also included a rigorous supply and demand analysis of restaurants. Using our market study, Sedexho USA was able to developed a highest and best use strategy for the historic preservation building.