Small Business Saturday by the numbers in Morristown

Map showing Morristown residents spent $34,778 on average at restaurants in 2015; grey areas have no data available. Census Business Builder - Small Business Edition
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Small Business Saturday was launched by the American Express Corporation seven years ago (2010).

Unlike Black Friday, which has been around since the 1960’s and Cyber Monday, which debuted in 2005, Small Business Saturday shifts the focus away from large retailers to shops like those in the heart of Morristown.

Many new businesses have moved into downtown since last year’s Small Business Saturday.

New residents have moved into the new apartments and condominiums. The Morristown Partnership cites the town as drawing nearly 75,000 people each day for both work and recreation. 

Let’s trust that the convergence will enable businesses to thrive through the holiday season and beyond.  Don’t know what gift to buy at a downtown boutique? Morristown Partnership offers gift certificates which can be used at any participating business.

Meanwhile, Morristown’s business district still has space for more boutiques and restaurants.  Franchising has its attractions including a parent company to assist with market data. The Morris County Economic Development commission owns a powerful database which they can use to attract new businesses.

For those with unique offerings, there are DIY tools and resources. Marketing opportunities include our publication, and the  Morristown Partnership’s suite of offerings.

The federal government provides Census Business Builder, Small Business Edition — 2.2,  a software tool providing data for a business plan or to better understand the potential market for a product or service.  Analysis is provided as a map, charts and key figures in spreadsheet format.

Take for example, a retail outlet for which there is recent, high-quality data:  Liquor stores.  The pictorial results, shown below, indicate that in 2015 Morristown had 10 liquor stores, significantly more than the surrounding communities.

Furthermore, the number of liquor stores has not changed much since 2007. The spending patterns for liquor purchases are broken down by dollars spend in restaurants and bar for 1) beer 2) wine; purchases to be consumed off premise; purchases by men vs. women.  (Spoiler alert – women spend more on wine.)

SBA Data for Morristown Liquor Stores
Market data based on 2015 census and small business records for liquor stores in Morristown visa vie surrounding communities.  Census Business Builder: Small Business Edition – 2.2

Analysis can also look at a town’s age and wage demographics, ethnicity and other factors.  Looking a restaurant expenditures, we can view available data on a map or graphically as below.

Map showing Morristown residents and their guests spent on average, $34,778 at restaurants in 2015.  Census Business Builder: Small Business Edition – 2.2  One might guess that this number is driven by business meals and Township residents; nonetheless it says something about the amount of money spent in the relatively small area of Morristown..
The 18,000 residents of Morristown spend quite a lot of money at restaurants, eh?  The number should be used more comparatively than as an indication of the restaurant budget of any particular family.  Census Business Builder: Small Business Edition – 2.2

Small Business Saturday is here to stay. Last year, Congress passed a House Resolution recognizing November 26, 2016, as “Small Business Saturday” and supporting efforts to increase awareness of the value of locally owned small businesses.

This year the Small Business Administration released this statement: “Saturday, Nov. 25, 2017, is Small Business Saturday® …. Please join the SBA and organizations across the country in supporting your local small business by shopping at a small business.”  The registered trademark is held by AmEx.

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Copyright 2017 MorristownGreen.com

3 COMMENTS

  1. Hi Jeff,
    I’m sure you’re correct. The business data is from 2015 (the latest available) so backward-looking census figures were used for the population.
    Beth

  2. This year, Morristown Partnership will not be hosting our Small Business Saturday sale; instead, we are hosting multiple FLASH SALE days (weekdays, weekends, various times) where you can purchase $50 Morristown gift certificates and receive $20 free.

    STAY TUNED to our social media pages to find out when FLASH SALES will be!
    https://www.facebook.com/morristownpartnership
    https://www.instagram.com/downtownmorristown
    https://www.twitter.com/shopmorristown

    OR, SIGN UP for our EMAIL BLASTS to get notified when FLASH SALES are happening.

    Text MORRISTOWN to 22828 to get signed up for emails.
    If you cannot send us a text, email giftcertificates@morristown-nj.org if you need more information/ would like to be added (may take up to 24 hours to be added).

    FULL DETAILS:
    – Only sold at the Morristown Partnership Office: 14 Maple Avenue, Suite 201, Morristown NJ 07960
    – Limited quantities available*
    – One Flash Sale purchase per household
    – $500 Maximum purchase ($200 free)
    – Gift Certificate denominations include: $50, $25, $20 and $5
    (no $10 currently available)
    – Payment accepted: Cash, Check or Credit Card
    – There will be multiple flash sale opportunities
    – Individuals are still permitted to purchase the regular sale ($10 for every $50 purchase, up to $500 purchase /$100 free max person) in addition to the flash sale $20 for $50 purchase
    – All are while supplies last.

    *Each Flash Sale could sell out, assuming maximum purchases, within the first 5 transactions

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