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Retail Recruitment for Communities

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by

Ellen Didier

on 27 September 2013

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Transcript of Retail Recruitment for Communities

Your Community's
Retail Message:
Ramping it Up!
TVA Economic Development
Retail Forum
September 25, 2013
You are a bright person.
You understand the impact new
retail can have on your community.
Financial impact
on city/county budgets
Quality of life
for residents
Your community is
1 of over 43,000 zipcodes
retailers can choose from.
How can you increase your community's odds?
First, you need to understand
a Retailer's two goals:
Can we make a PROFIT
in this market?
How QUICKLY and EASILY can we open our doors?
Your best bet for success:
Hire a professional
Retail Consulting Company
Research and compile all data and develop maps
A professional retail consultant can:
Identify your
trade area
A professional retail consultant can:
It may be larger than your city/county limits
Identify opportunity gaps and outshopping
A professional retail consultant can:
Develop a list of targeted retailers that are the best fit for your community.
A professional retail consultant can:
Present your community to targeted retailers
A professional retail consultant can:
They have the relationships and credibility
But what can you do if your community can't afford to hire a professional retail consultant - or if you can't sell the final decision makers on this option?
1
2
3
There are three
things you can do:

Work on your community from the inside
Gather your own data
Be creative in telling your story
NOTE: You will still have to do some of these even if you hire a professional retail consultant!
Build consensus within your community so you are used to working as a team when retailers contact you.
This tells them you will be easy to work with and will make their process smooth so they can be in business quickly.
Refine your processes:
Work out any kinks in planning dept.
Maintain confidentiality
Communicate regularly and respond to all requests promptly and professionally
Get rid of maverick building inspectors - it is ok to maintain high standards, it is not ok to be a jerk and treat potential retailers as the enemy
Document your zoning, planning, and building permit process.
Include all contact info.
Be prepared!
Define incentives
your community can offer.
Study what other communities have done.
Have a "Can Do" Attitude!
Show that your community will do what it takes to figure out ways to get deals done.
Think of non-traditional perks you can offer such as providing office space in your local incubator where they can manage the project and conduct interviews.
Build your team.
1. Work on your community from the inside.
To summarize:
Build your team
Refine your processes
Be prepared (document your processes)
Define incentives
Have a "can do" attitude
Existing Retailers & Locations
Available Retail Property
This is harder - often depends on your relationship with commercial realtors to keep updated
Gather property name, address, sale/lease, price, sq. ft. short description, at least one photo, owner/manager information
Plus local retail sales volumes - but keep confidential
Demographic information
Demographic information
A retail consultant also provides:
Disposable income
Population density
Population growth projections
Psychographic info
Economic Strength
Also gather:
# of beds in area hospitals
Area schools with number of students
Location and transportation
Determine Your Trade Area
This is best done by a retail consultant
See if local retailers, hospital, tourism etc. will share zipcode info from their customers
Retail sales volumes from existing retailers are also good support info - keep confidential
Tourism - if applicable
College Populations
Plus traffic counts by retail establishments
Opportunity Gap Report
Can be purchased for Retail Stores or Merchandise Lines for $79 each from Claritas (2012 data) - 3 radii
Other data to have ready:
Traffic patterns and flow
Ingress and egress
Visibility
Sign ordinances
Planning & zoning info
Gather Success Stories
Strength of openings compared nationally
Strength of sales of local retailer compared nationally
Any creative incentives or deal that showed you were willing to think outside of the box?
Public/Private partnerships?
Share what is planned
New commercial developments
Industry expansions/announcements
New tourism developments
Road & infrastructure additions or improvements
New subdivisions
New legislation (liquor laws)
Downtown revitalization
Develop a list of target retailers
Call or visit NEARBY PEER communities - who do they have that you don't?
Make sure you have a professional, up to date website
Should provide data they can't get
Should establish a clear brand identity
Should be up to date with current news and info
Should be well organized and easy to navigate
Can convey your processes
Gather your own data
To summarize:
Existing retailers & locations
Available retail property
Demographic info
Area employers & economic strength
Location & transportation
Opportunity gap report
College populations
Tourism impact
Trade area
Success stories
Planned developments & improvements
Include property listings on your website
TVA Local InSite
Run print ads in economic development or state business magazines
Send e-newsletters with news and available property information
Consider developing a visual guide that captures key data and marketing messages for retailers
Be active in social media
Attend ISCS and any retail show you have the opportunity to attend!

Marketing is a marathon!
Connect with Me
President, Red Sage Communications, Inc.
Ellen Didier
256-560-0098
edidier@redsageonline.com
Full transcript