Buy the Hood Podcast
Reading time: 1 – 2 minutes
Many folk start a business and the first thing they think is to go into other folks neighborhood. Unlike the folk they are running to they do not start their thinking and their ideas by first establishing a base from their own folk. Buy the Hood is my attempt to explain HOW, WHAT & WHY when it comes to investing in our own neighborhoods. I hope to point out opportunities and the right mentality for success. As always, PASS THE PODCAST ON!
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To that end: buy up Donald Lee Hollowell Parkway in Atlanta, GA
In every Black neighborhood around the world there is a main street where our folk are walking. In Jersey City, Newark, Crenshaw, Oakland, to Alabama there are streets where we should open up business.
Not only should we open up business but we should buy the property. This way we can own our own neighborhoods, have cheaper rent and provide services that work to our own people.
We just have to keep it simple. Our folks need basic businesses. DayCares, Check Cashing Spots, Small Grocery Stores, Barbershop/Beauty Salon, Beauty Supply, Small Restaurants. All that secondary businesses like coffee shops, clubs, and spoken word places are WANTS and not the NEEDS of our own community.
Of course that’s true. There’s a “main” street in every hood worldwide. But I’m talking about a specific tactical recommendation as an extension of the strategy you’re referring to in this podcast. Not some broad generality. Hell if I could’ve remembered to write down some addresses when I was driving by, I’d give it now.
Maybe the brevity of my first response made it look like I just pulled it out of thin air; but that’s far from the case.
LOL @ brevity of my first response. Nah man Carl I know you are talking specifics but I had to broaden it out so other folk could look around where they know and find their Main St too. I like specific tactical recommendations as I might have to change my intro from practical application of knowledge to Specific Tactical Recommendations.
Now we just need to find out how much the land cost, how much will it cost to build it, what are the zoning issues if any, what is the density of the population, what is their average income, what services are already being provided, what is the crime rate, what is the education level, is it a walking community or a driving community, how much land can we acquire, is there a city or state grant or tax abatement to help fund building in the enterprising areas, what are the bus and mass transit routes, what is the average age of the population and of course the big one CAN WE MAKE MONEY THERE!
i once asked my uncle what type of business i should open in the hood. he’s had his own restaurant for at least 20 years in the same spot. he told me to walk up and down jackson avenue and see where the people are going, what they are doing, what they are talking about. damn…..i thought he was crazy and didn’t do it. it sounds like it would have been a good idea
@Keish – That’s the same angle I advocate. People are always trying to introduce things that people MAY want instead of things the same folks NEED! All you have to do is walk down any big street and see what’s selling and take their model and put it closer to the people.
Case in Point: How many people go out of their way for Day Cares. They are not centrally located and the owners of the Day Cares aren’t thinking about what would be convenient to the parents. Now if the Day Care was in a Strip Mall with a supermarket, laundromat and was on a bus line then that Day Care would kill the rest. Not because it’s better but because it kills 3 birds with 1 stone.
There just isn’t anything exciting about washing clothes, watching kids or cashing checks. BUT, that’s where the money is in any neighborhood. You have to start from the NEEDS and then once those are satisfied you bring in the WANTS! We just go about the game backwards.
Freeman, thanks for the shout-out. I’m back in the ATL getting ready to see what the next steps are.
As you stated, a Black entrepreneur in 2009 need to put two and two together and realize the opportunities in our communities. We got to stop accepting lies, fears and doubts and start bringing courage, dedication and positive thinking to the table.
I’m going to keep these Black shopkeeper secrets but some of them running business in the hood are quiet multi-millionaires. It seems some brothas/sistas respond only to cats showing off flash and bling and think that’s real business. Again, as you eluded to, these females be in the club impressed by the guy popping bottles but don’t realize the owner of the club who sold the drinks is low-key in the backroom counting money…
@Ed – No problem I learn a lot from your site and your insight!
There are some real money making cats quietly bubbling on the low with some very simple businesses. Everyone always want to start a damn club instead of a laundromat. Your club might not always be popping but the laundromat will always make quarters.
It’s a Re-Education homie but once we drill it in cats heads over and over and over someone will take a shot. I just need to get one guy who likes to floss, to floss with the laundromat dough and I know that’s when the rest will follow. There is no doubt in my mind that all of our folk will work to get the money we just have to show them other avenues and let the new money inspire another generation of hustlers!