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Silver Diner Opens New Location In Mature Market, Adds $5.5M In New Revenue
Silver Diner sought to open new locations while minimizing cannibalization of existing stores. Using Placer.ai’s trade area data, they assessed the risks and opportunities of two potential sites. This analysis led to the successful opening of a new location in Chantilly, VA, adding $5.5 million in revenue with minimal impact on nearby stores, while rejecting a high-risk location in Bowie, MD.
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20+
locations and growing fast
$5.5M
in new revenue
>20%
trade area overlap for rejected location
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The Challenge
American restaurant group Silver Diner sought to expand into new locations while minimizing cannibalization to their existing stores. How could Silver Diner investigate, validate, and understand the opportunity and risks of two highly recommended potential sites?
The Outcome
Placer trade area data revealed negligible overlap between one potential location and existing stores, while a second had greater trade area overlap. As a result, Silver Diner opened a new location in Chantilly, VA, adding $5.5 million in revenue with minimal impact to existing stores nearby.
Without Placer, we would not have seriously considered Chantilly as it just seemed to be too close to our existing stores. Placer showing us that the trade areas were more distinct than we initially thought gave us the confidence to proceed, and now we've added $5.5M in new revenue with significantly less cannibalization than we anticipated. That's incredible."
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