By Brett Cafferty
Within the past month, I’ve specifically noticed four small retail businesses close that are along my usual route. A small space in the Cedar Springs Shopping Center, others in Turkey Creek, Farragut, and a downtown shop in Sweetwater. I’m sure there are many, many more.
If you ask any business owner, “Why do you do this?” or “How did you get started?” The answers are far and wide and often unexpected but typically involve an interest or a passion, an opportunity that comes along, the pursuit of a dream, perhaps family or friend connections, and having a confidence and belief in themselves that they can do it!
These characteristics are certainly (critically!) important and can serve as an impetus to take the next steps, but even when combined with work ethic, familiarity in the market, working capital, and drive – there is no guarantee of long-term success.
In my daily conversations with fellow business owners, I often hear “this past year has been tough” with increased cost of goods (inventory), the need for higher wages from employees, and the scarcity of reliable help. Add that to the complexity and challenges of daily operations and paying the bills – not to mention competing with online retailers – create an ongoing battle!
We decided to start a Gift Guide in the magazine for the holidays last year to help showcase locally owned businesses, shops, and boutiques. It was well received and effective for our advertisers, so we thought we would try it again for the spring to promote our local businesses and the unique goods they offer.
A thought and a challenge to our community this spring season:
Instead of always ordering online, take the time to visit a few locally owned businesses, learn what they offer, and spend a few (or more than a few!) dollars. It’s an encouragement to the business and staff, moves goods (likely helping the supplier also), generates local sales tax revenue, and in general “keeps our part of the world spinning.”
Everything Knoxville reaches an audience of 30,000+ households from Sequoyah Hills to Tellico Village. If just half of the households spent $50 each with a local shop this spring season, it would equal $800,000 in sales revenue. Small purchases x volume = a big impact.
Just a friendly reminder to shop and support your local business community. They need us, and we need them!