Economic Vitality Committee Agenda and Packet 2020 11 20

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4A% I��1 downtown strategies Recruiting Retail & Restaurants to your Downtown Downtown Retail Leads Retail leads can be broken down into four general categories: 0 Existing Businesses within or near the business district it Emerging Entrepreneurs Often the best leads are found near home. Leads might include existing Downtowns and business districts are often attractive to independent businesses. businesses seeking more space or a better location in the business Accordingly, leads might include home -based or garage -based businesses seeking more district. The district's business owner survey as well as ongoing fitting space and a convenient location for their customers. These leads might include conversations and personal contacts of the recruitment team, chamber of managers of existing businesses wishing to go into business on their own. Commercial commerce and other economic development professionals can help lenders, business schools, Small Business Development Center (SBDC) counselors, Main identify these leads. Street program business specialists, Service Corps of Retired Executives (SCORE), chamber of commerce and other public or private small business professionals should be asked to help identify these leads. © Existing Local or Regional Businesses Q National Chains Local or regional businesses, particularly those that have branch stores and are If local or regional businesses are not interested in expanding, larger national chains can ready to expand, are often excellent prospects. These business operators typically be contacted. It is important to be realistic about the kinds of chains that might be have a good knowledge of the market area, and may already have multiple stores. interested in a small community as their market, store size and parking requirements They are often interested in expansion as a way to improve their penetration of the may preclude them from considering your district. Leads can be identified through market. These leads can be identified through your team's knowledge of the directories and private databases listing chain site selection criteria and contacts. In business mix in other communities in the region and information collected from your addition, leads can also come from commercial brokers, trade shows, "deal making local consumer research. In addition, realtors, commercial brokers, sales forums," and conferences such as those offered by the International Council of representatives and supplies that work within the region can be helpful. Sometimes Shopping Centers. ads in regional business, real estate and regional lifestyle periodicals can generate leads. Agenda Packet P. 59