New vs Existing Businesses
SHOULD TOWN FOCUS ON SUPPORTING EXISTING BUSINESSES OR FINDING NEW BUSINESSES?
The 2020 US Census [ Click Here! ]
The [ BN ] looked at the 2020 census data in comparison to the 2010 census data. (Click on the map to view the full size image) Evans was one of three towns to lose more than 1,000 residents. Why?
High taxes! The closing of New Era and many other businesses has forced many families to leave Evans looking for jobs. Residents will continue to leave Evans as long as tax rates are higher than surrounding towns.
What Can Evans Offer Businesses?
When a business is evaluating locations in different towns, two of the top considerations are taxes and population. Evans isn’t favorable for either of these considerations. What Evans has to offer is the 12.5 miles of waterfront. Developing tourism via investing in the waterfront is the town’s best chance for future success. Number one on the list should be significant improvements at the Sturgeon Point Marina. The Skywalk is a major tourist attraction at the Grand Canyon. Wouldn’t a skywalk at the Sturgeon Point Marina bring tourists here?
Where Should Town Focus? → Finding New Businesses? → Supporting Existing Businesses?
Acquiring a new customer can cost five times more than retaining an existing customer. Increasing customer retention by 5% can increase profits from 25-95%. The success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%. [ Click Here! ]
In government terms, the town should “ask” businesses already in town what they need. Evans needs to focus on the needs of the businesses already here and less time on finding new businesses.
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