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What statistics would new stores need to incorporate for them to begin to open in the area?

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In the West side of Chicago, there are no health food stores or many regular grocery stores but fatty fast food areas. What statistics would new stores need to incorporate for them to begin to open in the area? Please show math involved-make up your own numbers for population, sq. miles , et cetera-just want to understand this. Please don't just give me some website. Thank you.

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Statistics associated with new stores are discussed. The solution is detailed and well presented. The response received a rating of "5/5" from the student who originally posted the question.

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Lets think of it this way:

There are many fast food joints in the area. There are 100,000 people within a 20 mile squared radius.

In this area, there are 50 fast food joints.

Out of the 100,000 who live in the 20 mile radius, 50,000 eat at the fast food joints on a day to day basis. Lets assume that all of the fast food joints get equal traffic.

This means that each fast food place sees 1000 people on a day to day basis. This includes breakfast, lunch, dinner and late night snacks.

The fast food joints are doing well, and that is why they are so many of them. In fact, a person can't walk more then 0.4 miles without seeing a different fast food place. Serving 1000 people a day, these joints are making a fortune.

People might not think that it is necessary to improve the quality of available stores in this 20 mile radius, since the fast food market is overly saturated. However, lets look at the population breakdown.

Of the 100,000 people who live in the area, only 50,000 people eat the junk. That ...

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