Business Ideas For Small Towns Reddit

Business Ideas For Small Towns Reddit – TELLURIDE, Colo. — Located in a valley surrounded by 13,000-foot peaks, Telluride has long appealed to adventure seekers and vacationers. But as the Covid-19 pandemic continues, the balance has shifted: people who work outside the city have moved in, pushing out longtime residents.

In Silverton, a remote town in southern Colorado, workers are living in campers or cars because they can’t find housing. Some are forced to travel 100 miles over mountain roads to work or live in a one bedroom apartment to pay rent.

Business Ideas For Small Towns Reddit

Business Ideas For Small Towns Reddit

In Telluride, some days last summer restaurants were closed because of the influx of tourists and lack of staff, said Haley Ninadel, a filmmaker who lives in the historic town known for its ski climbing with age. famous for the film festival

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“You don’t have enough coffee, or you don’t go out to eat, and you don’t have a place for your friends to hang out,” Ninadal said. “The greatest benefit to the people is the loss of society and the loss of life.”

With the pandemic affecting Americans and businesses in so many ways, housing has become a focal point for cities struggling to keep their workers and businesses local. The problem has long plagued Colorado’s mountain communities, but the epidemic kicked it into gear, residents and experts say.

“He took a slow-growing problem as if it were a fast-growing problem,” said Jason Paisley, executive director of the Yampa Valley Housing Authority in Steamboat Springs. “It’s very difficult for local wage earners to compete with people coming from out of town with great resources.”

A problem faced by many low-income earners who have moved into the middle class is teachers, police officers and nurses. This situation has forced citizens of the Big Island to take creative measures to reduce inequality, such as reducing the number of short-term rentals in the community or raising the tax on people who own two homes and own them for a long time. for a short time.

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Ninadale and other residents argued that a citizenship program by 2021 would result in fewer than 600 short-term rentals in Telluride. But voters rejected that plan, instead allowing a two-year moratorium to keep the debt in check for a while. Rental license at its current level is 787.

“There is a lot of real estate,” said Margaret Boyes, executive director of the Colorado Association of Skytowns, which represents 40 cities and counties. “It affects the level of service that can be the mountain town offers to its visitors, and it may very well affect the reputation of the town.”

Housing authorities and municipalities have been buying or flipping properties to sell to below-market workers for years. Recently, they have started experimenting with more innovative ideas, such as offering discounts or rents to customers; Placing deed restrictions on property to be sold to local workers. placing value caps on assets to ensure long-term affordability; and provide financial incentives for landlords to move from short-term rentals to long-term rentals.

Business Ideas For Small Towns Reddit

However, some business owners are selling the property and renting it out to employees. Eagle County, located in the ski town of Vail in central Colorado, plans to launch a loan program for property owners who want to build or renovate units. apartments that can be rented to local workers.

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“It’s very difficult,” said Anne Lowe, director of open spaces and trails for the city of Breckenridge. “It’s rare to find a single-family home under $1 million, and one of these needs to be done.”

Louie and her husband bought a single-family home in 2019 through Housing Aid, a program in Breckenridge that allows homeowners, buyers and investors to put a lien on their property. to ensure that it will be used for local buildings. Currently, 11 percent of Breckenridge’s apartments are occupied by residents, but its goal is 35 percent.

Through housing assistance, Louie and her husband received 15 percent of the sale of their home to use as a down payment, which reduced their debt. per month and allowed them to save money for the contracts.

“We weren’t pushed to take on more jobs to be close to downtown,” Lowe said.

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A pilot program for local residents that began in October in Breckenridge converted 55 rooms from short-term rentals to long-term rentals.

However, progress has been slow. According to Eagle County Housing and Development Authority Executive Director Kim Bell Williams, the waiting list for Eagle County’s foreclosure program has grown from 100 potential buyers to nearly 500 in two years ago.

Some of those efforts will intensify as state lawmakers debate how to spend $400 million in remaining Covid-19 relief funds they have earmarked for the houses.

Business Ideas For Small Towns Reddit

Despite these new initiatives, Colorado is still struggling with a supply shortage. Feeding West Development, a construction company in Buena Vista, hopes to help fill that gap by building 600 to 700 modular homes a year in an 11,000-square-foot factory that just opened. in November.

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Buena Vista’s first modular home community, The Farm at Buena Vista, opened in 2016 with homes built in Nebraska. Feeding West leads the way in housing for upland communities across the state, including Gunnison, Leadville and Montrose.

“There’s no way you can build affordable housing in these communities and properties,” said Charlie Chip, founder and CEO of Feeding West. “We don’t have enough electricians, plumbers, general contractors.

“The ability to build off-site is key to expanding the supply side… I believe this is the best way to deliver housing.

Boaz and the Skytown Group said it will take a long time to see widespread success, but “we know that every part will be a win.”

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Correction (March 7, 2022, 1:20 p.m. ET): An earlier version of this article misstated the year the civic program was proposed in Telluride. It was supposed to be 2021, not 2020. It was also wrong, only one or two restaurants opened last summer. We currently have over 60 openings. Anywhere there are people, there is a potential market. Even if it’s a small town you can have a big space for your grocery store. These are the highlights of living in a small town, so getting involved in these little-known communities gives you a chance to gain customer loyalty quickly—if you’re a small town thinker.

It is not difficult to get the best type for a small town. Although small towns make up three-quarters of all enrollment areas in the United States, their populations are often sparse. You don’t have to build a whole new model to meet the needs of a small town. What’s more, there will be less competition and lower starting costs than you would in a big city.

Whether you live in a small town or want to take your business dreams outside of the city, these 14 small town ideas can help get your business off the ground.

Business Ideas For Small Towns Reddit

Although it’s tempting to create a one-of-a-kind combo, like a cat cafe or a magical wine bar, you don’t want to compromise your idea of ​​success in a small town. The benefits in rural areas are very simple. You still need to make a plan, and register and license yourself, but you don’t need to find a special place to stand.

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In these untapped markets, entrepreneurs can succeed by focusing on a great need or a way to improve the quality of society. On the other hand, you can attract a customer base outside of the surrounding area by showing off your small town charm.

If there is a need for everyone, there is a grocery store. But not all small towns have easy access to food. And even if they do, there may be a weekly farmers market or a grocery store with a limited selection.

Opening a grocery store that offers a wide variety of products, foods, branded items, and even essential medicine cabinet items can save you a lot of money every week for most of the small community.

One way to give residents a reason to choose you instead of going to Walmart or other big box stores is to get your produce from local farmers. Not only will it provide you with new options, but you will contribute more to your local economy.

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Everyone likes to treat themselves to a nice meal out once in a while. Full-service restaurants are the setting for small town celebrations, family outings, date nights, and many other special occasions. The restaurant offers you convenience, through food pick-up and delivery services. Like grocery stores, restaurants can differentiate themselves from the competition – especially chain options – by sourcing local food.

Most cities with high per capita restaurant spending are not major metro areas. Taking the US Census Bureau’s statistics from the same article, it can be said that in a home with average expenses, there will be about four full service restaurants.

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