When a Business Closes Their Doors
Monday, April 02, 2018
April 2, 2018
When A Business Closes Their Doors
As the Director of Deuel Area Development and attending so many conferences on community and economic development, I wonder a great deal about what is ahead for the rural lifestyle and the counties we live in. A colleague of mine once shared what seemed like an outrageous number as to the number of Baby Boomers that will be retiring in the next 8-10 years. His statistic is that nearly 6,000 Baby Boomers will be retiring in the Brookings area alone. It’s going to affect them hugely in housing needs, and changing the landscape of employment, filling those jobs and infrastructure.
I shared on DADi’s @billboardfordeuelcounty Facebook page about The Alibi recently closing their doors and wishing them luck. Bruce and Diane have owned and operated their restaurant business for 41 years. It is truly an amazing amount of years but with the closing of this county icon, there is a void to be felt and I’m thinking about that today; the first Monday after it’s closing. My Facebook picture of The Alibi reached 10,000 plus people whose lives were touched by The Alibi. But Bruce and Diane did not go out of business because times were tough. I’m assuming they went through some of those type of years. They closed their doors because they were ready to retire. They had advertised the business for sale in a variety of ways. So far, there were no knocks on their door to purchase.
With the Baby Boomers retiring, we will see more and more of this type of thing happening. Rural areas might be hit the hardest; people may want to purchase a business in a “city” that is for sale. Purchasing in our rural communities may not happen as easily. Those retiring from businesses and jobs may definitely affect our counties and towns very hard. You cannot blame them for wanting to retire, whatever their reason. They have worked hard for years at a business to put food on the table, money away for “a rainy day” and be able to retire and start a new chapter in their lives. I believe it is the ultimate goal, is it not?
Grocery stores (such as Toronto’s Food Mart), and restaurants in many small communities have taken a hit according to many of my colleagues and have had to close their doors. Some towns have organized to form Co-op’s of individuals working with their city to open a local restaurant or grocery store; a group going together to make it happen. The days of having blinders on to those business owners around you are gone. Now “Co-Opetition” and “Collaboration” are huge promotional platforms to keep our towns, counties, businesses open and strong. Communities, counties and businesses that work together will reap the benefits. The days ahead are questionable with Baby Boomers retiring. We wish Bruce and Diane congratulations and the staff of The Alibi the best of luck in their retirement. The Alibi will be missed. Now it’s a matter of what can be done to rally around the closing and see a future. Anytime a business closes their doors for whatever reason; it’s a sad day.
Category: The Directors Corner