This article summarizes some recent insights from various downtown and business development professionals. Their recommendations often involve using this difficult period as an opportunity to implement innovative marketing and operational ideas on both a district and business level.
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Critical to the success of any downtown are the very businesses that adorn its streets. Downtown business districts are defined by their small businesses, employing half of the nation’s workforce and often serving as the livelihood and cultural center of towns all over America. During the current economic crisis, an emphisis on recruiting new businesses to downtown districts has emerged; however, this strategy does no good if current businesses are struggling to survive. Those familiar with economic development stress that the primary importance should be ensuring the success of existing businesses.
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As part of a market study for the Rhinelander, Wisconsin, Main Street Program, eight vibrant comparison downtowns were identified to study their business mix and overall downtown dynamics. Downtown leaders from each community were asked to identify businesses that make significant contributions to downtown vitality. Interviews were conducted with owners and/or managers from each of these “key” businesses and short case studies were prepared for inclusion in the Innovative Downtown Business Database. The key businesses identified can be grouped into one of five broad categories. These groups are presented in this article.
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A focal point of many small, rural towns has long been the local general store: a place for supplies, groceries, a cup of coffee and a gathering place for local residents. Over time many of these businesses have had to close their doors due to a number of factors including increased competition with large, regional, retail giants. In some cases the lack of a general store gathering place has contributed to a decline in the quality of life for many small communities. This has lead some residents and entrepreneurs to work on reviving their local general store. This issue examines the role that general stores play in enhancing the quality of life in small rural communities.
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To help existing and prospective restaurant operators and guide the development of the downtown dining and entertainment sector, it is important to understand why restaurants fail. An article in the Cornell Hotel and Restaurant Administration Quarterly, “Why Restaurants Fail” (Parsa et al.)* examines research on why restaurants go out of business. Information from this article, including failure rates and factors linked to those business closings, are summarized here.
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Community economic development (CED) practitioners have many tools in their toolbox. Cooperatives are another tool to address complex rural and urban needs Cooperatives can help retain or recapture community control of development by mobilizing multiple residents. Cooperatives are a means to obtain a “critical mass” of local resources and provide community goods and services. Cooperatives also build democratic leadership grounded in the local community and distribut profits equitably among members.
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According to the National Coffee Association, Americans consume 400 million cups of coffee per day, making the United States the leading consumer of coffee in the world. Seventy-seven percent of adults in the country drink coffee on a daily basis; with average consumption among those adults being three cups per day. This issue of Downtown Economics examines the growing market for downtown coffee houses
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Based on market analysis findings from many communities, coupled with business examples being submitted to the University of Wisconsin- Extensin’s Innovative Downtown Business online clearinghouse, ten broad catgories of retail are emerging as “good fits” for downtown. These can include both chains and independents and should be considered when a community develops its business expansion and recruitment wish list.
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Small city downtowns no longer have the traditional department stores that once anchored “main street.” Long gone are the days when downtown was the one-stop shopping center for the community. Further, in today’s competitive retail market, many chains continue to bypass downtown in their site selection efforts. Yet too often there is a disconnect between the types of retail local residents want downtown and what is realistic. Often small city downtowns are “stuck in a rut” in their recruitment efforts. So what types of retailers are truly bringing people back down to “main street” and how can a community develop a realistic business expansion and recruitment plan? This article answers these questions through a comprehensive market analysis and in the innovative business ideas that are actually operating in other downtowns.
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What are the local costs and benefits of a Wal*Mart store opening up in a community and how are they distributed across the different groups in the community? To consider this question, Ohio State University researchers Elena G. Irwin and Jill Clark, have reviewed the recent academic literature on this topic. This article summarizes some of these findings and their implications for consumers, workers, other businesses and the public sector.
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