Coronado folks have always enjoyed a stroll down Orange Avenue with its array of unique shops and restaurants. This year locals have been concerned with the turnover in several long term businesses and worried about the future of our downtown. The best way to protect the enduring charm of your village is to use your buying power here!
Our merchants face many challenges in the current economy. Two of the largest business expenses – rent and wages – are on the rise. Historically, rents on Orange Avenue have been a bit below the market. However, with the sale of a large chunk of the 1000 block of Orange Avenue, business owners all over town can expect rent increases. Additionally, the minimum wage increased to $11.00 an hour in 2018 and will increase to $11.50 on January 1, 2019. This 10% increase in a major expense impacts the ability of small shops to survive. Restaurant managers sometimes change their serving format, requiring you to order at a counter and receive your food at your table to save on employee pay. Retail establishments cut back on the hours they are open.
Another complication in today’s marketplace is the low unemployment rate. Businesses have difficulty hiring and retaining good employees, especially in low paying service jobs. Unfortunately, this hits small business the hardest. The larger the store, the more flexibility the manager has to juggle personnel and pricing.
By keeping our local businesses strong, we can ensure that Orange Avenue looks like the Coronado we want!
#2 – Keep our money in Coronado!
Big box stores and online retailers function like colonizers; they siphon dollars out of the local economy. Meanwhile, every time you make a purchase at a locally owned store, it sends a ripple of economic benefits through our community.
Statistics show that when you spend $100 at a local business, $68 stays in the community. It is spent paying for services such as marketing, banking, accounting, legal, printing, signage, etc. Plus the sales tax that is generated goes directly into our city’s general fund to help pay for our police, fire, and public services. Additionally, local nonprofits such as the schools foundation and charitable organizations are 250 to 350% more likely to receive support from small businesses. (When was the last time you saw a donation from Amazon at a silent auction in Coronado?) Finally, profits stay local, available for reinvestment in our community.
#3 – Local businesses provide teens their first jobs!
By patronizing our local businesses, many of which are “mom and pop shops,” you are investing in our town’s next generation workforce. Our children can get to work on foot, on a skateboard, or a bike, without clogging streets with cars or filling up parking spaces.
Why not thank your local businesses for teaching our children the work ethic by spending your money in our zip code, The 92118!