To properly answer this question, you really need to work backwards. First, what kind of food establishment is it? Is the food establishment a general cafe, or a dinner house? Does it cater to a certain ethnicity? What are the price points for the average ticket? If you can start answering these questions, then you start matching the location to the brand. If it was a standard cafe, then you would want to be somewhere there is both day and night traffic. If it is just a dinner house, then you are primarily concerned with evening traffic. If you price points are high then you want to be in affluent area. Then you need to look at both vehicular and pedistrial traffic flows for exposure. In your business plan you will have a price point for rent. You will need to match the rent allowance to the demographic. For instance, if you can afford $18.00 psf for rent you will look in areas who pricing is in that range. Parking is extremely important as well along with location access. Anyway these are just a few pointers.
May 1, 2009