Keep Local Alive was formed to give support and a voice to locally-owned independent businesses (LOIB). You may refer to these as “mom and pop” shops, local businesses, etc. But, we’re very intentional about our wording, as LOIBs are an especially susceptible segment of business.
This, is also because there are three distinct types of local businesses you can find:
- Local businesses
- Locally-owned franchises
- Locally-owned independent businesses
So, what’s the difference?
LOCAL BUSINESS
This can mean a couple of things.
- Any non-chain/big box business that is located in a community but the owners are not part of said community.
- Regional chains with multiple locations but the ownership/headquarters is part of community/state. Think how Dunkin’ is local to Boston or Publix to Florida.
LOCALLY-OWNED FRANCHISE
These are franchise owners who live within the community. They choose to own a franchise for a variety of reasons however, they often have a few advantages over independent business owners, such as a pre-established brand.
LOCALLY-OWNED INDEPENDENT BUSINESS
In this case, the owner lives in the community and owns their brand. They are independent and don’t benefit from an established brand or corporate marketing efforts.
WHY IT MATTERS
We have five core reasons as to why we choose to focus our support on LOIBs.
- Economic Impact
- Entrepreneurship
- Uniqueness and Character
- Personalized Experience
- Community
And the slight difference between the three groups impacts each of these reasons.
For example, the economic impact of a LOIB is higher for its own community. The recirculation of every dollar spent at a LOIB is dramatically higher than it is for a “local business” or a locally-owned franchise. In both instances, a lot of the profit is syphoned up to corporate structures rather than going back into its community.
Independent businesses are run by people - not by boards, not by stockholders, not by algorithms. They bring you a different kind of care and quality in their product because their work is a reflection of themselves. Their focus is on the details and bringing you the best possible experience.
Choosing to support a LOIB is an act of respect; it’s acknowledging the tremendous risk and challenges inherent in starting their own business.