Tuesday, May 1, 2007

I see by an ad in the Bulletin that another long-term downtown business is quitting.

pfundamentals. Anyone know the story behind that?

I anticipate a much needed store, like a high-end dress shop, or a high-end home decor, or a high-end jewelry, or....what we really need, a new coffee shop or restaurant.

At this rate, I'll be last man standing. Somebody the other day called me an "institution". I probably should be in one. Trivia Antiques is still there, and Kitchen Complements, and the Book Barn (if under the umpteenth owner), and Robert's Clothes (which has passed down to the next generation.) Let's see...there is Leapin' Lizards. Am I missing anyone with same ownership and location of more than twenty years? Much less twenty-five or more.... Not counting restaurants; I don't know a thing about how restaurants operate.

I'm now getting the children of the original children customers -- the first third generation customer I get, I'm out of here.


MIsstrade said...

I also noted the Realty store across the street from you is gone and available for lease. Says something about the RE game, yet Sotheby's is opening up next to Deep this month on Wall Street.More coffee shops more women's wear. Not sure how those places do it with their high rents.

Duncan McGeary said...

I just heard a new term this morning which I love; "Recreational Retail."

Much better then 'vanity business.'

jessefelder said...

Yeah, Leaping Lizards just recently sold, too. I looked at the numbers and was very underwhelmed. "Recreational Retail," is exactly it.

part time faineant said...

Bend Life Realty closed due to matters beyond little old Bend.

Dunc', I think you are exactly as rare as you should be. When you take into account, the uniqueness of downtown Bend and the typical amount of turnover of ownership in any retail over several decades-it makes sense that you'd be one of a half dozen businesses still in business. Mind you, only a half dozen businesses were in business downtown when you opened during the poor economic times.

As far as 'more coffee shops, more women's wear' it's whatever the market will bear.

Jason said...

Recreational Retail? As Linus would say, "Good grief!"

It certainly is appropriate.

Duncan McGeary said...

Mind you, you'd probably be underwhelmed with my numbers as well. But the INTENT is there to make money, and the businesses are our only source of income.

As far as it being 'natural' for this kind of turnover, I'd agree, except that so much of it has taken place in the last 5 years. In my building alone, three businesses left because of rent increases.

I read a study somewhere that made a simple point -- don't ask why Walmart or General Motors or Exxon are the biggest among all their competitors, but ONE OF THEM had to be. Statistically, it can just be a matter of very small differences over time, not genius on the part of the owners.

Like March Madness, one team was going to be the last team -- but not necessarily the best team.