Rivalries. We all love 'em. You're either on one side of the debate...or the other...no gray area.
Let's think about some famous rivalries:
Muhammed Ali vs Joe Frazier
Leno vs Letterman
Nature vs Nurture
Texas A&M vs University of Texas (I could write an entire POST about THIS one! [Gig 'em Ags!])
Coyote vs Roadrunner
Lindsay Lohan vs Sobriety (while funny (?), I can't take credit for this one)
Now let's throw this debate into the real estate ring:
"In one corner, you know 'em... you've seen 'em on TV ... it's your National Franchise Brokerage!"
(**insert Boo's** [yes, I am biased. Sorry. Remember the whole "no gray area" comment earlier?]
"In the other, it's your hometown hero, your neighbor next door, your Locally Owned Independent Brokerage!!"
(**crowd goes wild!!!**)
--> Let me just say real quick that while this blog post obviously favors the local-yokel's, this post is NOT about being pro-Franchise or pro-Independent. We've been there, done that.
What I'd like to call attention to however, is the need to keep our spending dollars in our hometowns, and to let you know about an organization whose purpose is to do just that: the 3/50 project. Their motto: "Saving the brick and mortars our nation is built on".
The 3/50 Project was started last year and the concept is quite simple: choose 3 of your favorite LOCAL stores that you would be sad to see close their doors. Then, commit to spend $50 per month in each of those stores. Easy!
According to statistics on their website, "if half of the employed population spent $50 each month in locally owned independent businesses, it would generate more than $42.6 billion in revenue".
For every $100 spent in locally owned independent stores, $68 returns to the community through taxes, payroll, and other expenditures. If you were to spend that same $100 in a national chain, only $43 would stay there. Spending that $100 online returns NOTHING to the community.
In an economy where people are being laid off right and left, I believe it's more important than ever to help support our local businesses. Many start up businesses are a result of people losing their jobs from Corporate America. They end up reflecting on their lives, what their passions TRULY are and end up opening a business to help support their passion and to build a business that is THEIR OWN. Something that they could pass on to their children for generations to come.
As an independent real estate brokerage whose office is located in the heart of McKinney Main Street in downtown McKinney, I'm surrounded my hundreds of unique shops and restaurants. I. LOVE. IT! For lunch I don't head down to Chili's or Olive Garden, now I head over to my neighbors at Patina Green, Sauce or Spoons. I see it as a way to help those businesses stay open and invest into my community.
"Supporting our local businesses is great and all, but how does this matter to real estate brokerages?"
Locally owned brokerages have the benefit of not having to pay out thousands of dollars in the form of national franchise fees, national brokerage dues or national advertising funds. The money that WOULD HAVE BEEN SPENT on those things can instead be spent on local advertising or given back to their agents to spend as they see necessary in the form of lower office fees or higher commission splits. When more of an agents money can be pocketed, that agent can turn around and invest it back into their local businesses, restaurants and shops. Maybe they can pay it forward within their community by using a local graphic design or advertising company, local printing shop or local radio station. Maybe they can spend the money that would have gone to national brokerage dues to sponsor a local baseball team or area event like a 5K instead.
The city of McKinney has an initiative that coincides with the 3/50 project nicely. It's the "McKinney First! Be Vocal. Buy Local." campaign. McKinney statistics say that of every $100 spent in McKinney $73 stays here!
In 2011 take the "buy it local" pledge. Do your best to seek out local businesses and spend your dollars there...first. Your community will thank you!
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