“Location, location, location.” For decades, this phrase was the mantra of retailers and restaurateurs. Simple to repeat, harder to act on. But behind the simplicity of the slogan hides one of the most complex business challenges: deciding not just where to be, but how to make that decision.

In the QSR world, expansion choices have too often rested on instinct, tradition, or the most obvious metric — headcount. If the population was big, the thinking went, the market must be right. Sometimes the hunch held. More often, the risks only surfaced after millions had been sunk.

The margin for error is shrinking. With rents climbing, inflation squeezing margins, and competitors crowding the map, a single misjudgment on location can be costly. Choosing the wrong market risks an entire strategy; choosing the wrong site risks the store itself before it has a chance to succeed.

That is why leading QSR brands are moving away from gut feel. They are treating location as a structured, evidence-based process. And when you look at it that way, the old mantra takes on a sharper meaning: location not once, but three times — country, region, street.

At a global pizza chain with more than a thousand locations, the marketing lead is reviewing a shortlist of potential new markets. Turkey has moved high on the list, and she spreads the report across the table.

“Eighty million people, a growing economy, a major metropolitan hub in Istanbul,” she says. “On scale alone, this looks compelling. But we know scale isn’t everything. Let’s test this properly.” The analyst nods and adds context. “Exactly. A headcount doesn’t equal a customer base. What matters is how often people eat out, and whether pizza is part of that dining culture.”

The marketing lead spreads the map across the table. “Five options,” she says. “Two by the waterfront, one in a residential district, one near the mall, one by the university. Each has an argument. The waterfront promises visibility, the mall offers steady traffic, the university brings youth. But which of these factors really translates into sales?”

The analyst overlays a heatmap of food traffic. Bright clusters flare across the city grid. “Look here,” he points out. “Three of our candidates fall inside these high-consumption clusters; two lie far outside. Raw visibility isn’t enough — what matters is where people actually go to eat.”

The marketer leans forward. “So it’s not about how many people pass by, but how much of that movement is food-related.” “That’s the idea,” the analyst replies.

Looked at separately, the three levels may feel like isolated steps. Seen together, they form a pipeline of choices.

At the strategic level, leaders determine if the fundamentals of a market make entry worthwhile. In the middle, the team filters those opportunities into a shortlist of regions. At the bottom, strategy turns into tangible commitments — leases signed, stores opened, capital at work.

Each layer asks a different question, draws on different evidence, and shields against a different kind of risk. Sequenced in this way, ambition doesn’t scatter — it flows. Expansion becomes not a gamble, but a process that can be managed, tested, and repeated.

For decades, the phrase was repeated more than explained. Geography seemed to be everything, yet no one said how to choose.

Today, the mantra survives, but its meaning has shifted. Country, region, street — each one a decision, each one a risk, each one a discipline of its own.

The lesson for leaders is blunt. Instinct has a place. But instinct alone is too costly. Expansion can be structured, tested, and repeated — a process that turns ambition into measurable results.

“Location, location, location” still matters. And now it matters because we finally have the tools to make each location the right one.