RO_Proposed_Scope_of_Work_Draft_FINAL.doc

City of Royal Oak Economic Development 203 S. Troy Street Royal Oak, MI 48067 248.246.3000

SCOPE OF WORK

ROYAL OAK RETAIL ANALYSIS AND DEVELOPMENT PLAN

SCOPE OF WORK

The City of Royal Oak is requesting a retail market analysis and retail development plan that will guide the city’s vision for retail development across the City and downtown:

Royal Oak will be an unrivaled retail destination for consumers and businesses alike, characterized by distinct, eclectic, and boldly innovative retailers that provide an exceptional experience to shop, dine, and play.

The scope of work includes the following:

· Review and report on the current status of retail in the City including, but not limited to, land use, space allocation, vacancies, lease/rental rates, competitiveness, current retail mix, and planned developments

· Conduct a market gap analysis in the City to identify the local market saturation for any given type of retail business. Analyze the supply, demand, and leakage/surplus factors for the target retail types in the designated market area.

· Define primary, secondary and potentially tertiary trade areas. Trade areas will be identified with consideration of population, proximity to other competing business districts, destination attractions, traffic patterns, transportation and infrastructure, drive-times, retail mix, store sizes and sales volumes, and actual customer data. Data derived from actual customer spending in the City of Royal Oak is preferred.

· An analysis of the trade areas will identify new potential customers and additional market sales potential derived from the customer profile data and actual market supply and demand data.

· Develop customer profiles. The customer profile information will include detailed demographics, ESRI lifestyle segmentation data, actual customer spending habits, and any other information deemed pertinent by the selected contractor.

· Identify at least four peer cities: a minimum of two in Michigan and two outside Michigan. Peer cities will be identified that have similar customer profiles and have a successful retail market to serve as potential benchmark models for a strategic retail development plan. Where appropriate, an analysis of incentives offered by the city and/or private property owners or businesses that contributed to the city’s retail success shall be provided.

· Develop a proposed retail development plan. The City is seeking a strategic retail development plan that serves to realize the City’s adopted vision for retail development, meets the demand of the market, and considers the characteristics of the customers within the identified trade areas. The plan will identify the strongest mix of retail categories, niches, and specific retail stores within those groupings to target for business attraction, retention, and expansion marketing efforts. The list of specific target retail stores will be extensive. The strategy will also identify specific potential locations and spaces for targeted retail that considers all data gathered. Such data will include (not limited to):

· Rationale for selecting the targets

· Industry overview, trends and forecasts, competitive landscape, key external industry drivers

· Store Location Trends (e.g. geographical disbursement, neighborhood quality, stand-alone vs. strip mall)

· Identifying words and phrases in addition to the relevant 6-digit NAICS codes

· Key statistics including market size and historical and projected growth rates

· Emerging trends and subsectors

· Create three sample marketing packages that could be used by City staff to market to targeted retail establishments, meet the goals of the retail development plan, and attract targeted retail to the City of Royal Oak. The marketing packages will each be tailored to a specific retailer that is suggested for the City. The package will have comprehensive information on the trade area, customer profile, demographics, potential locations, city amenities, city history/culture/brand, tax information, leasing rates, relevant incentive programs, parking, infrastructure, projected sales data, and any other information deemed pertinent by the contractor.

· Report on all data sources used in the final deliverables and identify how the information can be obtained on an ongoing basis to create future sample marketing packages. The use of Artificial Intelligence (AI) technologies in the gathering and analysis of data is encouraged.

DELIVERABLES

· Royal Oak Retail Market Analysis

· Royal Oak Retail Development Plan

· Royal Oak Strategic Marketing Materials for Three (3) Targeted Retailers

· Hard copies and electronic copies of the Analysis, the Development Plan, and the Marketing Materials

SUBMITTED WITH PROPOSAL

1. A brief history of your organization

2. The qualifications of personnel who will be responsible for directing operations

3. A sample contract relevant to this scope of work

4. Listing of at least (3) client references within the past (5) years, including:

a. Client name and address

b. Itemized dollar value of project

c. A statement of whether or not all deliverables were provided within budget with necessary explanations

d. Samples of work, such as screenshots or printouts

5. Additional work samples, such as screenshots or printouts

6. Work plan - summary of recommended approach to accomplish the work of this request (limit 5 pages)

a. Include tasks, methodologies and a description of City/stakeholders involvement in the process

7. Fee quotation for the services outlined in this request. If any additional services are proposed by your company, please outline these and their costs as separate from those services requested in this RFP.

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