Monday, November 25, 2013
Monday, October 28, 2013
As the Holidays fast approach this is a great thing to keep in mind! You can make a difference!
Editor's note: This blog post was written by Fred Clements, executive director of the National Bicycle Dealers Association. Clements' previous blogs can be read on bikedealerblog.wordpress.com.
Many believe that buying from local independent businesses is a good thing, but is there credible research to back that up?
Yes, and one of the latest is from research firm Civic Economics. The company’s researchers took an in-depth look at the Salt Lake City retail marketplace. They found that a group of locally-owned stores generated almost four times as much economic impact than the average chain store.
Civic Economics analyzed hard data from 22 independent retailers and restaurants, and compared their impact with four chain retail stores(Barnes & Noble, Home Depot, Office Max, and Target) and three national restaurant chains (Darden, McDonald’s, and P.F. Chang’s).
The local retailers returned an average of 52 percent of their revenue to the local economy, compared to 14 percent for the chain retailers. The local restaurants re-circulated an average of 79 percent of their revenue locally, compared to 30 percent for the chain restaurants.
The study methodology required independent businesses to open their books for review to measure the proportion of revenue expended five categories:
The study suggests that buying local represents a huge opportunity for building healthier local economies. In Salt Lake City’s case, numbers can be extrapolated to illustrate the potential.
According to the 2007 Economic Census, the Salt Lake City metropolitan area produces annual retail store sales across all lines of goods (excluding motor vehicles and gas stations) of roughly $9.5 billion.
Assuming this survey provides a representative sample of area independent retailers, a market shift of just 10 percent from chains to independents would retain an additional $362 million in the regional economy every year.
Similarly, a market shift of 10 percent from chains to local restaurants would retain an additional $125 million in the regional economy.
Civic Economics has conducted numerous studies in the past with a similar conclusion: independents bring substantial benefits to their local economies when compared to chain stores.
The authors conclude, “independents are creating a virtuous cycle of local spending. The extra dollars in the local economy produce more jobs for residents, extra tax revenues for local governments, more investment in commercial and residential districts, and enhanced support for local nonprofits. In short, these businesses create better places.”
The message for the bicycle world? Support your local bike shop. It’s good for you as a cyclist, as well as for the community at-large.
Fred Clements: Improve the economy, buy local
Published October 28, 2013
A blog by NBDA executive director Fred Clements
Editor's note: This blog post was written by Fred Clements, executive director of the National Bicycle Dealers Association. Clements' previous blogs can be read on bikedealerblog.wordpress.com.
Many believe that buying from local independent businesses is a good thing, but is there credible research to back that up?
Yes, and one of the latest is from research firm Civic Economics. The company’s researchers took an in-depth look at the Salt Lake City retail marketplace. They found that a group of locally-owned stores generated almost four times as much economic impact than the average chain store.
Civic Economics analyzed hard data from 22 independent retailers and restaurants, and compared their impact with four chain retail stores(Barnes & Noble, Home Depot, Office Max, and Target) and three national restaurant chains (Darden, McDonald’s, and P.F. Chang’s).
The local retailers returned an average of 52 percent of their revenue to the local economy, compared to 14 percent for the chain retailers. The local restaurants re-circulated an average of 79 percent of their revenue locally, compared to 30 percent for the chain restaurants.
The study methodology required independent businesses to open their books for review to measure the proportion of revenue expended five categories:
- Profits paid out to local owners,
- Wages paid to local workers,
- Procurement of goods services for internal use,
- Procurement of local goods for resale, and
- Charitable giving within the community.
The study suggests that buying local represents a huge opportunity for building healthier local economies. In Salt Lake City’s case, numbers can be extrapolated to illustrate the potential.
According to the 2007 Economic Census, the Salt Lake City metropolitan area produces annual retail store sales across all lines of goods (excluding motor vehicles and gas stations) of roughly $9.5 billion.
Assuming this survey provides a representative sample of area independent retailers, a market shift of just 10 percent from chains to independents would retain an additional $362 million in the regional economy every year.
Similarly, a market shift of 10 percent from chains to local restaurants would retain an additional $125 million in the regional economy.
Civic Economics has conducted numerous studies in the past with a similar conclusion: independents bring substantial benefits to their local economies when compared to chain stores.
The authors conclude, “independents are creating a virtuous cycle of local spending. The extra dollars in the local economy produce more jobs for residents, extra tax revenues for local governments, more investment in commercial and residential districts, and enhanced support for local nonprofits. In short, these businesses create better places.”
The message for the bicycle world? Support your local bike shop. It’s good for you as a cyclist, as well as for the community at-large.
Friday, October 11, 2013
Kona countdown
Feels like I just landed but already we're six days in and counting down the final week to Ironman which is this coming Saturday October 12th. The pressure cooker is definitely dialing its way up as racers arrive with a myriad of bikes each with its own unique configuration and consequently unique problems. We've seen many a seized, cross-threaded, or snapped bolt and performed too many bolt extractions to keep count of. We've soldered at least a few Di2 wiring harnesses. We've replaced a few drivetrains, tons of internal cable routing, and lots and lots of tubulars. Sadly we've had a few athletes arrive with broken frames however the shop is well stocked with tri bikes and every tri bike manufacturer worth their salt has a rep and a tent here in the village. Celebrity bikes have been built, stars of Kona Ironman have been through the shop and there's more to come. The days have been long but rewarding as the tech crew works like a well oiled machine cranking through repairs and tackling all of the aforementioned bike mishaps with the right mix of professionalism and humor.
Friday, October 4, 2013
Viva aloha!
For the second year in a row I have had the opportunity to work with an incredible team of folks at Bike Works who support the Kona Ironman. A select crew of great shop employees, mechanics, and support crew led by Grant and Janet (the owners) come together to pull off this incredible feat of getting racers ready for this most monumental race. I'm both excited and trepidatious as I head out on the first leg of my journey. This is an intense learning experience and a true test of a mechanics ability to improvise, prioritize, and just plain make things happen! With 12 hour days ahead I can't promise many updates bit I will try to impart some of the craziness we will get to be a part of so stay tuned!
Zach
Subscribe to:
Posts (Atom)