Video Tour of Bricktown Retail

[Pete]

You guys may remember that I talked to the people at Walgreens about a year ago and they said downtown wasn't even close to meeting their criteria.

This is the sort of reaction you can expect from any retail chain... They have limited resources and prioritize expansion based on demographics and coverage. All you have to do is run a simple demographic study for that area and it would be immediately eliminated.

BTW, nobody has mentioned we already have a major chain downtown: Bass Pro. Of course, the only way that happened was due to substantial subsidies.

[Urbanized]

I've been in Red Dirt and do not believe for a second they've ever been profitable.

So if you’re wrong about this, does it mean that you’re wrong about everything else?

For years I sat around, much like some of the people in this thread, and thought (and told others) “someone should do something about getting retail in Bricktown…” or “they’re doing it all wrong, I would do it the right way,” and then realized that a bunch of talk and negativity was just that. So I did something about it. I got partners and put my ideas to work. I’ve said it before on this board, if anybody has a retail concept for Bricktown that they think can’t miss and reasonable financial wherewithal, PM me and I’ll do everything I can to help you put YOUR ideas into practice. I can guarantee you that I can get you with people down here who will find great retail space for you at a very fair price.

The “high rent” knock on Bricktown may have applied in 1999 and the early part of this decade, but it’s mostly urban legend at this point, if you ask me. I'm CERTAIN that it is cheaper than rent at any mall that’s not on life support. If you’re looking at 500-1,500 feet, which is probably optimal for locally-based retail, I would say rent would be almost inconsequential in the overall scheme of things. By far the bigger challenge than reasonable rent is finding someone willing to divide a large floor plate, but there are definitely some here who would be willing to do so or who already have space this size.

By the way, not that I am going to divulge actual numbers, but after a little over six months of moderate investment during the build-out, stocking and opening of our store, we have not had to put another dime into it and have minimal debt. The last time we had to put new money into the operation was in March of 2008. We actually could have sat back and begun recording profit at that point, but since then we have repeatedly reinvested pretty much everything earned back into the store, its fixtures and its inventory. If you look at photos of the store today versus 2007 I think that is quite evident. Now out of the building and significant re-investing mode, we saw our first official profit shortly after 18 months of business. I think that is excellent by anybody’s standards for a startup business. We are more than confident in the long-term, ongoing viability and profitability of the store. Hope that clears it up for you.

[Urbanized]

I have some more thoughts on this subject that I'll try to put together. Being (as far as I know) the only Bricktown retailer who posts on this board, I guess I have a unique perspective on the matter.

[Steve]

Uh-oh, someone is trying inject facts into this discussion. And with this I predict the thread will die.

[BailJumper]

Uh-oh, someone is trying inject facts into this discussion. And with this I predict the thread will die.

Oh Steve, quite the journalist you are. If you don't agree with the banter its all fable but if you do then its all fact. I remember the same spewing by other Bricktown establishments proclaiming all is fine and then weeks later they were gone.

I stand by my non-fact based assessment that I highly doubt Red Dirt is a money maker. Not that it isn't a pretty cool store for a tourist trap, I just don't see the math adding up. Could I be wrong? Certainly. Have I pegged most of the Bricktown businesses in the past? You bet.

[Urbanized]

Maybe you should ask Steve if I have ever lied to him about business conditions, good or bad, in the more than ten years that I have known him.

[metro]

Oh Steve, quite the journalist you are. If you don't agree with the banter its all fable but if you do then its all fact. I remember the same spewing by other Bricktown establishments proclaiming all is fine and then weeks later they were gone.

I agree, the board has had quite a Daily Oklahoman spin on it as of late.

[Steve]

I agree, the board has had quite a Daily Oklahoman spin on it as of late.

Not sure what you mean by that. I've been a member of this site since 2005. I understand the cynicism in this instance - some businesses have been less than honest. But I've been seeing good traffic at the Red Dirt Emporium, and by the way, the Bricktown Candy Co. Can observation alone determine whether a business owner is being honest about their store's success? Of course not. But in this case you've got one anonymous person claiming it's a failure and the business owner stating it's making money.

I'm representing only what I hear, see and observe. Take it or leave it.

[Urbanized]

Well, I really have nothing to gain by fibbing to locals, being a tourist trap and all.

[Urbanized]

OK, before I post up the lengthy diatribe that I typed out last night about my views on Bricktown retail, the specific ideas behind our store and why I'm pretty confident that it will defy the "retail curse" in Bricktown, let me ask the following questions. If you and I have already discussed the first few questions in person, please don't spoil it by giving the answers.

1. What current retail operation in Bricktown would you describe as the oldest, the most long-lasting?
2. What would you say is the SECOND oldest?
3. What retail operation (don't limit yourself to free-standing) more than doubled its square footage not long after opening, and why do you think they did so?
4. Even if a long-running retailer doesn't meet your own definition of a "great" or even an "appropriate" retailer for Bricktown or downtown, can anything be learned from their longevity?
5. Can anything be learned from the failure of other retailers in Bricktown?
6. Is it possible that maybe -- JUST MAYBE -- there is something (or things) at work in this district besides the ever-popular assumption that lack of retail is all the fault of the stereotyped greedy Bricktown property owner bogeyman?
7. What do you think is the most underappreciated and overlooked group of people who utilize Bricktown, when it comes to planning, business startups, and discussions like these?

[Doug Loudenback]

I hate tests.

[Steve]

I dare Metro and Bailjumper to take on the challenge!

[donbroncho]

Hmm Steve no one has taken on your challenge. I am not going to even try because I am very ignorant about the subject. I really do want to see someone try though...

[donbroncho]

OOPs not your challenge Steve, the Red Dirt Emporium owners...my bad

[Steve]

Um, yeah.... pair this up with the time I posted an invitation for folks with some opinions about Bricktown to discuss their thoughts one-on-one with Bricktown Association director Jim Cowan. That thread suddenly went dead too.

[Doug Loudenback]

Bump. Guess I'm not alone in hating tests.

[Steve]

What current retail operation in Bricktown would you describe as the oldest, the most long-lasting?
What would you say is the SECOND oldest?
What retail operation (don't limit yourself to free-standing) more than doubled its square footage not long after opening, and why do you think they did so?
Even if a long-running retailer doesn't meet your own definition of a "great" or even an "appropriate" retailer for Bricktown or downtown, can anything be learned from their longevity?
Can anything be learned from the failure of other retailers in Bricktown?

I know the answers...

[Doug Loudenback]

Good for you. I still hate tests.

[BailJumper]

I'm representing only what I hear, see and observe. Take it or leave it.

Yeah the ladies around the watercooler in my office apply that same logic to their facts too!

[Steve]

Bailjumper, not sure the ladies at the watercooler are attending meetings, looking at documents and talking to those directly involved. Of course, I say this to yet another anonymous person on the internet.
Take it or leave it for what it's worth. For what it's worth, Chad has actually offered to let me look at his books to verify his store is making a profit. Not sure that would make any impression with you or not.

[donbroncho]

So Steve, when do we get the answers to the test? I think we all failed it lol. And speaking of Bricktown retail, just tried out the Bricktown Candy Company(yes i know theres a thread about it). That place will succeed. Super nice guy that runs it, as Im sure you can attest to. Will be back...

[Steve]

So Steve, when do we get the answers to the test? I think we all failed it lol. And speaking of Bricktown retail, just tried out the Bricktown Candy Company(yes i know theres a thread about it). That place will succeed. Super nice guy that runs it, as Im sure you can attest to. Will be back...

If Metro and Bailjumper say it's ok, I'll take a stab at it.

[Urbanized]

Well, as far as the "look at my books" comment, while I would indeed let Steve look at them because I have known him for years and trust him, it was more of a flippant comment in a personal conversation regarding this thread; "heck, I'll SHOW you my books." I wasn't really meaning that he would then report back to the people here. I don't give a tinker's damn whether someone on the innerwebs thinks we're turning a profit or not. It's inconsequential.

What IS consequential is what my accountant and my partners think. Suffice to say that, especially in light of the past two quarters, we're looking for other ways to expand and even start new ventures. We took a very steady, studied, conservative approach to starting a retail operation down here, and it has paid off.

I also think the fact that we knew the answers to the questions above -- obviously, few others do, not only those on this board but also many of those who have tried to invest here -- helps us considerably. Beyond that, we almost surely know the Bricktown VISITOR market better than any other businesspeople in the district. That's not a boast, just a consequence of our other, 10-year business experience here. That is what gave us a leg up when building a business in an especially tricky market for retail, I believe.

I hate to say it, but I think most failed business down here were started on gut feelings, unrealistic enthusiasm, poor planning and a lack of understanding of how Bricktown really functions from a business standpoint.

Do I want to see some great nationals give a shot in the arm to the retail mix down here? Absolutely. It will only help what we are doing. But WE have to be here first. By "we" I don't mean my store specifically; I mean multiple independent retailers like mine. It is the nature of urban infill and destination retail development as opposed to mall retail development.

You can believe me, you can believe the Main Street and downtown development training that I had during the mid-late '90s and early part of this decade, you can believe the retail development experts that I have spoken with, and those that I know Steve has spoken with, you can believe the many books on the subject, and you can believe the retail consultants that the City, the Chamber and Bricktown have employed and worked with recently, or not. It's really that simple.

How's that for "spewing?"

[Steve]

The Internet: Where everybody is the expert.

[Urbanized]

Well, I might not have as much experience at dogging people out on the Internet, but I DO own an retail store in Bricktown that is about to celebrate its second birthday. Maybe that counts for something.

Nah, probably not...