In business school I learned that retail and restaurants were a very fickle business. Chances of running a successful restaurant were less than 20%, if I remember correctly.
However, I never thought it would be so difficult to keep a shop running in our neighborhood.
You can’t buy a single family home on our street for $2 million dollars, you’d think it with those sort of consumers, any shop you open would be successful.
I’ve been here 8 years now and already I feel like an old person when I start listing the turnover of retail shops and restaurants just off our street.
There are so many empty shops right now, more than I’ve ever seen before. I guess the recession is still on. Or maybe this area just doesn’t have the volume it needs for all the retail spaces available?
It’s not all doom and gloom. Some shops closed and new tenants have taken over…
I can’t wait to look back on this post a year from now to see who is still standing!Pin It