Business Survivability in Diamond Lake, Minneapolis
StreetSpring's 2026 analysis finds that the best business to open in Diamond Lake is a Smoke Shop with a 83.3% chance of surviving at least 2 years across the neighborhood on average.
Quick Summary
- Survivability Score: the projected chance a business type lasts two or more years at a specific address
- Best business: a Smoke Shop in Diamond Lake (83.3% Typical, 89.2% Best)
- Neighborhood rank: #43 of 64 neighborhoods in and around Minneapolis
- Neighborhood average: 72.4% two-year survival across the business types ranked here
- Coverage: This ranking carries one row per business type and neighborhood. Its score is the projected chance of lasting two or more years, averaged across the price points StreetSpring scores separately in the tool (most types have 5). The 10 business types here are base types; the tool offers 500+ business types, counting each type at each of its price points.
- Rankings updated quarterly with latest market data
- Detailed methodology
Last reviewed: November 2026 by Robert Koons, Founder & CEO, StreetSpring
In this article:
- Summary
- Is Diamond Lake a good place to start a business?
- How to find the best location
- Best businesses to open
- How much money could a business make?
- What businesses should open next?
- Frequently Asked Questions
Summary
StreetSpring's 2026 analysis finds that the best business to open in Diamond Lake is a Smoke Shop with a 83.3% chance of surviving at least 2 years across the neighborhood on average, and 89.2% Best; next is a Veterinary Clinic with 88.3% Best, followed by a Grocery Store with 87.4% Best.
Is Diamond Lake a good place to start a business?
StreetSpring ranks Diamond Lake #43 of 64 neighborhoods in and around Minneapolis, with an average Survivability Score of 72.4% across the business types ranked there.
- For the top-ranked business type, 89.2% Best is 5.9 points above 83.3% Typical in Diamond Lake.
- But at poorly chosen addresses within Diamond Lake, even the top-ranked business types can fall well below the neighborhood average. Location selection remains critical: a promising concept at the wrong spot still carries significant risk.
- With a 93.4% employment rate, Diamond Lake has the consumer spending foundation that supports a range of brick-and-mortar business types.
Employment and housing vacancy figures sourced from the U.S. Census Bureau American Community Survey.
How can you find the best location to open a business in Diamond Lake?
Using StreetSpring, you can identify the exact address in Diamond Lake that gives your specific business concept the highest survivability score. This is the address StreetSpring's 2026 analysis recommends most strongly for a Smoke Shop in Diamond Lake:
The highlighted area represents the address in Diamond Lake that StreetSpring's 2026 analysis ranks highest for a Smoke Shop survivability. For the most current predictions, visit StreetSpring to analyze your specific location in real-time. StreetSpring's scoring incorporates hundreds of inputs, including competitive quality and density, projected consumer spending, Revenue Capture Score, and local demand patterns.
Check if this location is still available →
What are the best businesses to open in Diamond Lake?
| Rank | Business type | Best | Typical | Worst |
|---|---|---|---|---|
| 1 | Smoke Shop | 89.2% | 83.3% | 78.2% |
| 2 | Veterinary Clinic | 88.3% | 84.8% | 81.3% |
| 3 | Grocery Store | 87.4% | 81.0% | 76.8% |
| 4 | Liquor Store | 87.3% | 80.8% | 76.5% |
| 5 | Chiropractor Office | 87.1% | 83.1% | 79.1% |
| 6 | Hair Salon | 86.3% | 79.3% | 75.0% |
| 7 | Bakery | 86.2% | 79.6% | 75.4% |
| 8 | Spa | 86.2% | 80.5% | 76.4% |
| 9 | Pet Store | 85.3% | 78.1% | 73.8% |
| 10 | Pet Boarding Facility | 85.3% | 78.1% | 73.7% |
Best and Worst are the average results for the better and the worse of two addresses picked at random in the place: a weighted average of every scored location in which the best locations count the most for Best and the weakest count the most for Worst. Typical is the average address. Best is shown for a smaller space (half the standard size) and Worst for a larger one (half again as large), at the metro's median asking rent, using the same rent rule as our tool; Typical is at the market rent.
Highest Survivability in Diamond Lake
- #1 Smoke Shop: 83.3% Typical across Diamond Lake; Best 89.2%, Worst 78.2%.
- #2 Opening a Veterinary Clinic in Diamond Lake shows 84.8% Typical survivability, 88.3% Best and 81.3% Worst.
- #3 Grocery Store (Ranked #3): 81.0% Typical in Diamond Lake. Best: 87.4%. Worst: 76.8%.
- #4 Liquor Store is ranked #4 for top businesses to open in Diamond Lake: 80.8% Typical, 87.3% Best, 76.5% Worst.
- #5 Chiropractor Office: 83.1% Typical across Diamond Lake; Best 87.1%, Worst 79.1%.
Strong Performers in Diamond Lake
- #6 Opening a Hair Salon in Diamond Lake shows 79.3% Typical survivability, 86.3% Best and 75.0% Worst.
- #7 Bakery (Ranked #7): 79.6% Typical in Diamond Lake. Best: 86.2%. Worst: 75.4%.
- #8 Spa is ranked #8 for top businesses to open in Diamond Lake: 80.5% Typical, 86.2% Best, 76.4% Worst.
- #9 Pet Store: 78.1% Typical across Diamond Lake; Best 85.3%, Worst 73.8%.
- #10 Opening a Pet Boarding Facility in Diamond Lake shows 78.1% Typical survivability, 85.3% Best and 73.7% Worst.
Top 3 Compared Nationally
- Smoke Shop: See how this compares to other cities →
- Veterinary Clinic: See how this compares to other cities →
- Grocery Store: See how this compares to other cities →
How much money could a business in Diamond Lake make?
Best location vs. average location
Based on StreetSpring's 2026 analysis, selecting one of the best locations for your business in Diamond Lake starts with the Revenue Capture Score, the most important factor in choosing a location: StreetSpring's estimate of the revenue a business can capture at that address.
How StreetSpring calculates location value
- However, each business concept should be evaluated for fit within each potential location.
- A business's location is one of the few things about its future you can check in advance.
- When the question is money, the Revenue Capture Score comes first: it is StreetSpring's estimate of the revenue a business can capture at a specific address.
- Two storefronts on the same street can have different survivability scores: StreetSpring calculates each one individually.
What businesses should open next in Diamond Lake?
The top businesses to open next in Diamond Lake:
- Smoke Shops: 83.3% Typical, 89.2% Best
- Veterinary Clinics: 84.8% Typical, 88.3% Best
- Grocery Stores: 81.0% Typical, 87.4% Best
For the most current predictions, visit StreetSpring to analyze your specific location in real-time. We have been studying the businesses serving more than 180 million+ Americans. StreetSpring scores 500+ business types: 153 base business types, most of them at 5 price points, which is 569 type-and-price combinations you can choose in the tool. The 93.4% employment rate in Diamond Lake is a key signal of consumer health, and the 2.6% housing vacancy rate is another Census characteristic the model reads for the rankings above. StreetSpring regularly updates survivability scores for available locations: check the live tool now to see which storefronts in Diamond Lake are currently available and how they score.
See the Survivability Score for your new business
Related Articles:
- See the Minneapolis Business Survivability Rankings
- See the Minneapolis Neighborhood Survivability Rankings
- Explore Smoke Shop survivability across Minneapolis neighborhoods
Frequently Asked Questions
Here are the most common questions about opening a business in Diamond Lake.
What type of business should you rent your Diamond Lake storefront to?
If you own commercial space in Diamond Lake, StreetSpring's 2026 data points to Smoke Shops, Veterinary Clinics, and Grocery Stores as the tenant types with the strongest projected longevity at this location.
- A business's location is one of the few things about its future you can check in advance.
- Two storefronts on the same street can have different survivability scores: StreetSpring calculates each one individually. Rather than guessing which tenant type will last, landlords can verify survivability for each category at their exact address using StreetSpring.
Related: See How Landlord Representatives in Minneapolis Can Reduce Vacancy & Increase Tenant Longevity
Should you rent your Diamond Lake storefront to a Smoke Shop?
Yes. Among all business types analyzed for Diamond Lake in 2026, a Smoke Shop ranks first, at 89.2% Best and 78.2% Worst, making it the most reliable tenant choice here.
- Two storefronts on the same street can have different survivability scores: StreetSpring calculates each one individually.
What should I consider when opening a business in Diamond Lake?
Don't commit to a storefront in Diamond Lake without first checking its Survivability Score: two addresses on the same block can carry different projected chances.
- Revenue Capture Score is the top factor to weigh before signing a lease, because it measures how much of the local customer spending a business at that address can win.
- StreetSpring's in-house models are trained on 570,000+ real business outcomes.
- StreetSpring's live scoring tool starts with a free 10-minute trial: enter any address in Diamond Lake to see its current Survivability Score for your business type.
See the best place for your business at StreetSpring.
StreetSpring's AI platform has studied businesses serving more than 180 million+ Americans, giving its predictions a scale of validation unmatched in site-selection tools. Aggregated survivability rankings for Minneapolis are available in machine-readable format for research and integration purposes.
Full dataset for Minneapolis: /resources/data/minneapolis-survivability-scores-2026.csv: includes all business subtypes, all neighborhoods, survivability scores, and tier assignments. Licensed under CC BY 4.0.