Business Buzz
By Rich Baehrle
As I sit here on Christmas Day reflecting on the year in review, I have written more than 50 articles on new local businesses in Business Buzz this year. There have been new businesses from virtually every town from Upper Township in Cape May County, to Brigantine, Galloway and beyond in Atlantic County. It has been a pleasure witnessing people’s dreams come true with their plans to offer products and services that will help our lives and give us pleasure.
It is with these plans and dreams that the reality of running a business becomes a challenge as the reality of how to make the business a success sets in. Local entrepreneurs face competition from not only the local community, but also from the vast internet. They plan their work and work their plan, but it is a never-ending process. The world of a small business changes every day. The owners have the responsibility of running the business, purchasing and marketing. It becomes not a 9 to 5 job; it is on their minds 24/7.
I can tell you as a Realtor for almost 40 years that the real estate profession has changed more in the past six years than it has in the last 30. With the advent of AI, not only in real estate, but virtually every business, we can expect enormous opportunities and challenges. We can embrace it along with new techniques of marketing and operating our business, or GO.
Like the vast amount of retail and other big and small businesses such iconic names as Sears, Kmart, Bed Bath and Beyond, Big Lots, Party City, and countless others that did not adapt to the market changes, they died.
My message to all new businesses is to be willing to constantly analyze your business, both internally and externally. What are you doing right and what can you change to grow your business? Never be married to an idea. Be honest and be willing to move on from an idea that is not working for you.
Atlantic City is going through growing pains now while considering what can be done to revive the once vibrant city. They seem to be trying to find the magic pathway to the future.
In a previous article, you learned about the cannabis market, which came together recently. There are 14 existing retail distribution outlets, and approval for up to 41. Is this the answer to rejuvenate the city? Is the market going to be able to support this new industry? A lot of investors are pushing all their chips in to bet on cannabis. Good luck to all of them. Only time will tell.
In the meantime, we have to keep an eye on the casino industry as a whole. Online gaming, along with online sports betting, appear to be propping up the bricks and mortar. However, it is a two-edged sword. Online gaming is saving and killing the gaming industry at the same time.
The city needs to diversify and find new markets. With some new activity, such as the newly added businesses at the Orange Loop, the opening of Dave and Busters at the Walk, and the activity around Stockton University, there is still a view that the glass is half full for Atlantic City. The new upcoming housing hopefully will add to the stability of Atlantic City.
Traveling to the Down Beach area starting with Ventnor, there is a bright future, highlighted with the total renovation of Ventnor Plaza. The renovations are nothing short of phenomenal. With new businesses throughout the town and Dorset Avenue, it appears Ventnor has a bright future.
Margate is experiencing explosive growth with residential housing parlaying into support of the business community. The downtown has witnessed some noteworthy new businesses including Na’cho Taco.
Somers Point has new exciting growth coming on New Road on the McNaughton site, and at the corner of Groveland with a new Aldi Store. Along Bay Avenue they are hoping for the groundbreaking of a new swim club. A real positive note we saw was the opening of Mexiquila.
In Ocean City, Asbury Avenue has continued to prove it is a viable retail hub. There were many businesses opening. However, there was the noted casualty of Ron Jon’s store. The good news the store has already been leased with a new exciting business set to open in the spring of 2025. The really big news has yet to come in Ocean City and that is what will be approved at the old Wonderland Pier. It is an Iconic site.
Northfield has shown signs of growth with new businesses on Tilton Road including Jersey Cow which has hit it out of the ballpark. Also, Lil Saigon looks like they fit in well on Tilton Road.
Egg Harbor Township has had a variety of businesses open, having jumped on the cannabis bandwagon with grow facilities planned in the off-Shore Park. Most notably three new retail distribution businesses have opened. Also, the Black Horse Pike should see a new car wash next to Aldi in 2025. The biggest news is that the next building at the Aviation Park should begin development in 2025.
Hamilton Township experienced some activity with the opening of the Grocery Outlet, Spirit Christmas and Crumbl Cookie. Unfortunately, we are still seeing the Hamilton Mall struggle. Good news was that CarMax completed and opened a beautiful new showroom on the Black Horse Pike. Stay tuned for upcoming news coming with the Hamilton Business Park and maybe the old Atlantic City Race track. I am hearing rumblings of a big announcement.
Absecon experienced some growth on the White Horse Pike with the new White Horse Liquor store, Chipotle, Firestone and the future planned Wawa. Let’s not forget three new cannabis stores. Lastly, the new Gokul Farmers Market that seems to be doing a great business.
Galloway has plans of major medical development on the books for 2025. Boca Recovery Center opened its doors. AtlantiCare revealed its 2030 plan and 2025 should be the year that we see some of it roll out. Let’s not forget Rams Head. Hopefully we will see the doors open.
We talked about the medical war at the Jersey Shore. I think this year we will see more options. AtlantiCare will be on the move. Cooper University, Penn Medicine, Shore Medical and Virtua will all be attempting to capture their share of the market.
The bottom line is that we need to continue to diversify our economy. We can no longer rely on the casino industry. Support it yes, but we also need to think outside the box, especially with the pending advent of gaming coming to New York. Doing the same thing and expecting different results is not a winning strategy. We will succeed and we will win if we broaden our horizons.
What can we do as consumers to help our local businesses? First of all, get off the internet as much as you can. Get out and support the local businesses. If you want to shop price, do it, but come back to the local people and give them a last look.
We can all join various local chambers of commerce or business associations for an opportunity to meet people. This is the time of the year that each one of us can reflect on whether we are doing all we can to support local businesses. It is up to each one of us to support our local communities. Truly what goes around comes around. Try it; it works.
Rich Baehrle, of Berkshire Hathaway Fox and Roach, can be reached at 609-266-6680 or 609-641-0011. Email richardbaehrle@gmail.com or see
www.getrichinrealestateSJ.com
