LOCAL BUSINESSES IN North York may be suffering, but many small business owners are hopeful that their shops and restaurants will be able to weather the economic storm.
“You have to be optimistic,” said Marjorie Agnew, the owner of the Main Course, a specialty housewares store near Avenue Road and Wilson Avenue. “You have to buy new items and make sure it looks wonderful and make a special effort — which we do anyway,” she added.
Though the winter months after Christmas are traditionally slow months for retailers and restaurants, some Main Street businesses are reporting deeper losses than in previous years.
“In January and February, we found we’re trailing about 10 per cent lower,” said Tony Loschavio, owner of Paese and L-Eat, near Bathurst Street and Wilson Avenue.
“We’re finding that the general consensus is that people are very cautious to make certain they’re getting their money’s worth when they’re entertaining.”
As a result, Loschavio revised his menus, switching to filling, comfort foods, like chicken and mashed potatoes, instead of upscale items like foie gras and lobster.
“People are cautiously entertaining,” he said. “We know that a lot of people have lost their jobs or aren’t comfortable to show flash, so we’re suiting simpler tastes.”
Small businesses are crucial to building strong communities, said Rebecca Reuber, a professor of entrepreneurship and small business at the Rotman School of Management.
“It keeps people in the neighbourhood, for healthy, vibrant communities,” she said. “[Small businesses] understand very well the needs of people in the neighbourhood.”
Specializing in very specific products has helped some retailers like bridal gown designer Adele Wechsler and Samuel Kleinberg Jewellers.
“We’ve focused on our business in the engagement ring market, which is a constant market,” said Lorne Spivak, co-owner of the jewellery shop. Creatively using the Internet to advertise, combined with a new in-house program that allows shoppers to choose their diamonds carefully, has boosted the business, he said.
Wechsler agreed.
“It’s a time to really carve out a niche for ourselves,” the designer said. Her strategy is to appeal to the eco-conscious bride, with an eco- couture collection on offer.
But even though some retailers are feeling positive about the future, local BIAs reported closures, citing high rents and a drop in sales.
“The merchants are really desperate,” said Daly McCarten, a representative of the Uptown Yonge BIA, which serves the Sporting Life area. “It’s so hard to plan anything for them right now.”
McCarten said she and the other members are debating whether to increase advertising, and she is currently considering radio promotion in an effort to attract shoppers to the area.
The Main Course owner Marjorie Agnew agreed.
“I would suggest that the consumers support their local merchants. If they don’t, we won’t be here. As opposed to going to the malls and the big box stores, it’s more important than ever to support their local merchants.”
