Real estate forecasting solution assists the nation’s leading entrée salad destination with their new market development plans.
May 27, 2022 4 Minute Read
The ChallengeSaladworks required a customer-focused real estate forecasting solution to assist in identifying new markets for development with the right demographics and cultural composition to match the brand’s target audience. Saladworks also wanted the solution to help them determine market saturation limits for the brand, and estimate sales potential to analyze the health of existing units. They were looking for a solution to enhance the intuition and experience they apply to strategic decision making.
Unique SolutionRetail Analytics conducted trade area and customer lifestyle analyses and developed a forecasting model to help create a national development blueprint for Saladworks. The results identified the top markets for new development, which included Atlanta and Dallas. Retail provided detailed insights on the growth opportunities in these cities, and based on the data analysis, Saladworks plans to open a combination of corporate and franchise units in both areas to saturate the new markets for optimal growth. The first Saladworks franchisee to open in Atlanta has enlisted the support of CBRE brokers to help find and negotiate offers on future locations. The integrated real estate solution will help Saladworks take advantage of the growth potential in the Atlanta market.
Exceptional Client Outcome
- Retail used its proprietary market optimization algorithm to analyze 61,872 potential sites and create a national development blueprint for Saladworks
- Identified 579 prospective markets with high sales potential and limited sales transfer risk worth approximately $550M in potential net new revenue for Saladworks
- Created an existing unit performance score card to assess 92 Saladworks locations and classify them into four performance levels, indicating locations to investigate for improvements
- Identified the top 10 customer lifestyle segments which represent approximately 46% of all sales for Saladworks; each segment tells a story of who these customers are and how best to reach them based on their lifestyle tendencies and preferences
- Prioritized the top 15 new development markets and provided insights on key new market areas for rapid development