Big and Small Businesses Thrive in New York

Everyone has heard at some time or another that New York is the place to be. There are so many businesses in New York, and it appears to continue growing with even more possibilities for investors and entrepreneurs to engage in.

Big Name Companies

When it comes to the amount of revenue that is circulating in New York everyone seems to want a piece of the pie, and the big-name companies are not exempt. There are companies like Ford Motor Company that, according to CNN money, are starting concepts like crowdsource bus business ventures in New York. There are companies in New York like Chariot that have 14 seat fans where people can reserve the rides through their smartphones. This is almost like a private shuttle style of uber in a bus form Tevfik Arif. This company is a subsidiary of Ford, and it is now moving into New York. It started in San Francisco, but New York, with so many residents that do not drive, was the next obvious choice to open up shop.

There are also major gas station chains like the 7-Eleven that are expanding in New York. There is a lot of talk about how 7-Eleven plans to put the bodega stores out of business. Much of this has to do with the increase in food options that are available at the 7-Eleven stores.

There has been talk about the hot dog-shaped cheeseburger along with other things like buffalo chicken taquitos and Big Bites. Teaditionally, in New York the bodega was where many people may have acquired food, but there are going to be more than 100 on the island that can easily bring forth consumers that may have been interested in getting more from their local 7-Eleven. In places like Long Island and Staten Island there will be growth in more of the 7-Eleven stores, and this will essentially start a big rivalry between these franchise 7-Eleven spots and the local bodega stores that are part of New York culture.

Small Businesses

The big business that comes to New York. There are also a lot of small business entrepreneurs that come to New York with the hopes and dreams of being profitable. So many people that bring businesses to New York are betting on large amounts of foot traffic from people that do not have cars. They are bound to wonder into some of these stores simply because they are walking by. This is the common thought process for most business owners that open up restaurants and clothing shops.

The logic actually works when it comes to these type of restaurants because New York is very crowded. Few people are going to go out of their way to go to another borough in New York for a meal if they are walking past a place that is going to serve what they are looking for.

There are small businesses like Coogan’s in New York that almost went out of business until the Washington Heights Community rallied around this business in order to help with the new lease for the building after the rent was initially raised to $62,000. This was not something that the owner of the bar was able to pay initially, but an agreement has been reached, and now this bar and restaurant is able to stay open.

In New York this is commonplace for the community to come to the rescue for some small business owners. Coogan’s, for example, was a small business staple in Washington Heights. The bar has been open since 1985 so there are many loyal patrons that support it regularly.

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