Just up the road from our house is a plaza or strip mall, a collection of 20 or 30 stores. This plaza has two large wings and right in the joint between the two wings is what must be the worst retail space in the city. At least, those of us who live here know that it is the worst retail space in the city. Aileen and I have been in this area for the past 15 years and in that time we have seen business after business try to make a go of it there, and not one of them has lasted for more than a couple of years. Several have lasted just a few months.
When we first arrived it was a family diner, but quickly the diner went out of business and was replaced by a fish and chips joint. Just a few months later there was a big notice on the door from the landlords saying that they were owed tens of thousands of dollars, and that the store had been shut down. Then it was a Lebanese restaurant, then a sandwich shop and, as of last week, an all-day breakfast place. And I know I am forgetting a couple of other iterations along the way.
The strange thing is that this store looks like it is in a great location. There is a long plaza stretching out on either side of it, with store after store. There is a lot of parking available, and a few attractive and well-trafficked stores just down the way. And yet, for some reason, this one storefront seems to be a retail black hole. It is where businesses go to die, where entrepreneurs go to blow their money.
Before every new store opens, the old sign gets hauled down, and paper covers the windows while the store receives a renovation. Every time I see another “opening soon” sign, I want to go and bang on the door and tell the people, “Don’t do it!” I see them walking in and out, full of excitement, and I feel a bit of dread for them. I know they’ve got a business plan that looks bulletproof, and they’ve convinced the bank to loan them some money to get started, but I want to tell them about all those other people who have followed the same plan and utterly failed. And eventually the inevitable happens.