HomeCasa Local market research before opening a new business, with sources
Research an area before opening a storefront: cited demographics, competitor map, permits, a location checklist, a 5-day field plan and clear go or no-go criteria. Designed for ChatGPT, Claude, Gemini and Perplexity. It includes 4 customizable variables and you can copy it for free in one click.
Intermediate · Text · Pending editorial review
Prompt
Act as a market researcher who specializes in local retail and services. Use web search when available and cite every data point with its source.
Project:
- Type of business: {{business}}
- City and neighborhood or street: {{area}}
- Target customer: {{customer}}
- Expected average ticket: {{ticket}}
If the business or area is ambiguous, ask me before researching.
Deliverables:
1. Area profile: population, age, median household income and household types, with an official source (census data, city or county reports) linked and the year of the data. If you cannot find a figure, write [FILL IN] and tell me where to look.
2. Competitor map: businesses of the same type within a reasonable radius, with address, price range and average rating only if public. Note that the list must be checked in person because directories go out of date.
3. Substitutes: what else the customer can do (online, big-box stores, doing it themselves).
4. Location checklist for site visits: foot traffic by time of day, visibility, parking, transit, planned roadworks and nearby anchor businesses.
5. Permits to research: business license, zoning, health or industry-specific permits, with links to the official source.
6. Demand estimate: a step-by-step method with a formula (potential customers × frequency × achievable share × ticket), with every assumption labeled.
7. A 5-day field research plan: foot-traffic counts, visiting competitors as a customer and 10 short questions to ask local residents.
8. Decision criteria: what results would mean go ahead, change location or drop the idea.
Constraints:
- Do not invent business names, figures or reviews. Clearly separate sourced data from your own estimates.
- Flag any data older than 3 years.
Format: numbered sections, tables for data and competitors, and a source list at the end.How to use it
- Run this prompt in a tool with web search, such as Perplexity. 2. Verify the competitor list in person. 3. Do the field research and recalculate demand with your own numbers before signing a lease.
Usage example
Business: bike shop with repair service · Area: East Nashville, Tennessee · Customer: urban cyclists aged 25-45 · Ticket: $55 for repairs, $700 for bikes.
Sample output
1. Area profile: Logan Square, Chicago
| Indicator | Value | Source and year |
|---|---|---|
| Population | [FILL IN] | U.S. Census Bureau, American Community Survey |
| Median age | [FILL IN] | ACS 5-year estimates |
| Median household income | [FILL IN] | ACS 5-year estimates |
| Household types | [FILL IN] | City of Chicago community area profiles |
I could not verify current figures; pull them from data.census.gov for the relevant census tracts and note the year.
2. Competitor map
| Name | Address | Price range | Rating |
|---|---|---|---|
| [FILL IN after visit] | — | — | Only if public |
Directories go stale: check every listing in person.
6. Demand estimate (method)
Potential customers × frequency × achievable share × ticket
- Potential customers: [FILL IN] (assumption: residents 30-55 + offices within a 5-minute walk).
- Frequency: 2 visits/week (assumption).
- Achievable share: 3% (assumption).
- Ticket: $9.
7. 5-day field plan
- Days 1–2: foot-traffic counts at 8-10 am, 1-3 pm and 5-7 pm.
- Day 3: visit 4 competitors as a customer; note prices and lines.
- Days 4–5: ask 10 short questions to residents, such as "Where did you last buy coffee away from home?"…
Key facts
- Category
- Business & entrepreneurship · Market research
- Output type
- Text
- Level
- Intermediate
- Designed for
- ChatGPT, Claude, Gemini and Perplexity
- Verified in
- Pending editorial verification
- Variables
- Type of business, City and neighborhood, Target customer and Expected average ticket
- Language
- English
- Price
- Free, no sign-up
- Updated
- Nov 7, 2026
Frequently asked questions
Can I trust the data the AI finds?
Use it as a starting point. Open every cited source to confirm the figure and its date, then add field research, which tells you the most about a local market.
Why count foot traffic myself?
For a street-level business, location drives a large share of sales. Counting passers-by at different times and days gives you first-hand data no report has.
What is this prompt for?
Research an area before opening a storefront: cited demographics, competitor map, permits, a location checklist, a 5-day field plan and clear go or no-go criteria.
Which AI tools does it work with?
It is designed for ChatGPT, Claude, Gemini and Perplexity. We have not verified it in these tools yet, so results may vary between them.
How do I customize the prompt?
Click “Customize” and fill in the variables (Type of business, City and neighborhood, Target customer and Expected average ticket). The text updates instantly and you can then copy it in one click. Values are stored only in your browser.
Do I need experience to use it?
It is intermediate: it helps to know the topic so you can provide good context and review the result critically.
Is this prompt free?
Yes. Every HomeCasa Prompts prompt is free, with no sign-up or subscription. You can also use them in professional projects.
Can I trust the AI output?
Treat it as a high-quality draft: always check data, figures and important claims before publishing or making decisions.