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[R271]Restaurants On Main Street
by Mike Colpitts, Mik
The U.S. economy is battling the most severe economic crisis since the Great Depression, and now the meltdown on Wall Street may be averted with further actions by the Fed. But the meltdown on Main Street may just be beginning.

Deregulation triggered the U.S. Savings and Loan Fraud Crisis in the late 1980's. But it seems we didn't learn from history. Deregulation of the financial markets and mortgage lenders has caused the economic melt down.

Investment banks and other lenders have no way to determine the extent of the crisis since their risk-management models do not take unprecedented events like the nation is currently experiencing into account. As a consequence, the banks have not only been caught off guard, but have been amazed at the speed at which the crisis is accelerating.

The facts are facts. We know new investment vehicles (SIV's) were developed to trade new emerging securities in the investment markets like pork bellies on Wall Street, lenders took liberties with liar loans, making them to anyone who could sign their name and that the real estate boom was caused by artificial appreciation manipulated by newly developed creative financing that went outside the bounds of any common sense.

Some people made millions of dollars, and other investors in financials and real estate did pretty well during the boom. But the boom's last gasp is close to over just about every where ? even Hawaii.

Millions of Americans are being thrown out of their homes due to foreclosure. The crisis is making huge inroads into the nation's economy. Since the economic crisis started more than 2 million homes and other properties have been foreclosed.

The $200-billion infusion into the nation's money markets and other Fed actions are a long time consuming, arduous process. The crisis is dragging down the national economy, and the rest of the world's financial markets, which have been thrown out of balance since the crisis blew up more than a year ago.

Sill, there are those that will benefit from the crisis, investing in real estate and financial instruments at the right time to share in big profits. The majority of Americans will not because of the nation's ?pack mentality,? the sense that when things are bad it's bad for everyone.

Grocery prices are spiraling out of control. Anyone who eats knows that. Gasoline and commodity prices are edging upward. It's hitting us all in the wallet. Inflation is a huge issue.

When will it get better, you ask? Sometime after it all works through the Fed. Whether or not Americans want a full scale bail out isn't the issue anymore. It's simply a question of how long it will be before the Fed feels it has to pull the lever. It seems we need to gag that cough medicine down.

Blair Candy came to our attention through Dave Dadurka, a staff writer for Distribution Channels, a publication of the American Wholesale Marketer's Association.

Dave knew that Blair Candy exemplified exactly what we were looking for: a family-owned brick-and-mortar company that has added an Internet component to grow their business.

Blair Candy is a wholesaler and distributor of candy, tobacco, and paper products in Altoona, PA. Patrick Dandrea, who eventually enlisted the help of his sons Ron and Terry, established it in 1940.

The impetus for getting the company online came from Pam Macharola, who was in charge of PR and did much of the company's buying. She offered to work with the design firm to oversee the production of the site, and now serves as the site's webmaster, in addition to the other hats she wears.

For over half a century, the company had been thriving. Why, then, were they interested in expanding on the Internet? What did they want the Internet to do for them and their business.

"It was a two-fold thing," explains Blair's VP Terry Dandrea. "We wanted to get our name out there. We had an informational section on the site which explained our business, our delivery radius, and we definitely wanted to get that information out to as many people as possible."

"At the same time, we wanted ordering. We started out small, with a few items that we thought would be unique: some old time candy, candy you don't see out in stores anymore."

While their first site did put the company on the map, so to speak, it failed to bring in the new business they had hoped for. Soon, they saw that they would have to take initiative on their own to make the site successful. Even though they were new to the e-commerce world, they found solutions where the web professionals had fallen short.

"The design firm got us up and running, and it was ok," Says Terry.

"They told us they would put us up where people would find us, because one of our big questions was, hey, we're a small company, and when you get on the Internet, we're still a small company because there are so many competitors out there."

"But we were getting zero hits, no sales at all. We took it upon ourselves to go to Yahoo and get some advertising ourselves, and we had to pay. We had to pay to play on the Internet, but we started getting orders."

Once the orders started to come in, they decided to take their site to the next level. In addition to extending the capabilities of their e-commerce system, they wanted to make the site easier to change and update. A new company was hired to analyze and redesign the site. They had a number of ideas about how they could rebuild it and bring the technology up-to-date.

"We wanted to get to the next step so we could control our items a bit better, make changes more often. we've got that now, but we've gone through weeks and weeks of problems to get there."

Despite their early setbacks, Blair Candy has found its place on the Internet, and their e-commerce goals, to grow sales and increase awareness of the company, have been achieved.

But Blair Candy's involvement with the Internet doesn't just end with their web site. They have found that the web is an excellent research tool. They use it frequently to find new (or cheaper) suppliers, to keep tabs on their competitors, and to discover what items are in demand, guaranteeing that their inventory will reflect the items their customers want to buy.

The Internet won't take the place of actual salesmen and delivery trucks, however. Blair has many customers, particularly retail outlets, in the Altoona area, and they choose to service these clients directly, face to face. What the Internet has done for them is to attract new individual clients, "home shoppers," who are looking for the hard-to-find novelty candies and paper products that are Blair's specialty.

Pam explains: "A lot of people are moving out of this area, and they know they can get local specialty items from us, like Mallocups and the original Peanut Butter Meltaways, which are made in Altoona. It has opened our doors to so many people. We have our name out nation wide. We're on the East coast, but a lot of our orders are coming from the West coast."

Pat Dandrea, the company's president, agrees. "we've developed a customer base in California, Oregon, North Dakota. It has expanded our business far beyond (geographically) anything that we could have done without it."

I interviewed over 50 successful long established Main Street companies like Blair Candy, asking many of the same questions that I asked Terry. I was looking for the common denominator, two or three reasons that all of them mentioned for taking their otherwise successful traditional company online.

In addition to having their story published on our web site, where it receives consistent traffic from Web searches every day, they were used as an example of " best practices" in the book "Doing It Right", Realizing Your Company's Potential that we published in 2003 and whose content we recently made available on our web site at no charge.

Now, we are beginning with another batch of business owners who want us to tell their story. We are asking them some of the same questions I asked Terry, to help us tell the stories of Main Street companies developing strategies for continued success in the 21st Century.

The new profiles will also be posted on our web site and some of them will be selected as part of the content in one of the two books we have in process.

Based on our experience doing these interviews we've dramatically streamlined the process for this next round. There is a page entitled "Submit a Profile" on every page of our web site. If you or someone you know is interested in knowing more I believe you confined the information you need there.
Article Source : Arizona Department Of Real Estate

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Both Mike Colpitts & Wayne Messick are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Mike Colpitts has sinced written about articles on various topics from Real Estate, Computers and The Internet and Real Estate. Mike Colpitts is the Editor of Housing Predictor, which forecasts more than 250 local housing markets in all 50 U.S. states and provides real estate news. Visit . Mike Colpitts's top article generates over 8100 views. Bookmark Mike Colpitts to your Favourites.

Wayne Messick has sinced written about articles on various topics from Employment, Education Toys and Marketing. Wayne Messick wants to interview business owners positioning themselves for success in the 21st Century. Click here for. Wayne Messick's top article generates over 12100 views. Bookmark Wayne Messick to your Favourites.
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