Down on the Corner: A Business Indicator for the Ages
Street corners have long been prime real estate for businesses. They offer high visibility and easy access, making them ideal locations for a variety of businesses. But did you know that street corner businesses can also be a valuable indicator of the health of the economy?
Banks
Banks were among the first businesses to establish themselves on street corners. In the 18th and 19th centuries, banks were a relatively new concept. To build trust and credibility, banks needed to be highly visible. They often chose prominent locations on street corners, where they could be easily seen by potential customers.
Gas Stations
As the automobile became more popular in the 20th century, gas stations became a staple of American street corners. Gas stations offered a convenient location for drivers to fill up their tanks and purchase other automotive products. The competition for street corner gas stations was fierce, and many major oil companies fought for prime locations.
Drugstores
Drugstores have been a fixture on American street corners for decades. In the early days, drugstores sold a variety of products, including medicines, toiletries, and soda fountain treats. Today, drugstores are primarily focused on selling prescription drugs. However, they still play an important role in the local community.
Other Businesses
In addition to banks, gas stations, and drugstores, you can find a variety of other businesses on street corners. These may include:
- Convenience stores
- Fast food restaurants
- Coffee shops
- Retail stores
Why Street Corner Businesses Are a Good Indicator
Street corner businesses are a good indicator of economic health for several reasons:
- They are highly visible: This means that they are likely to attract a large number of customers.
- They are convenient: Street corner businesses are often located in high-traffic areas, making them easy to access.
- They are essential businesses: Many street corner businesses, such as drugstores and gas stations, are essential services that people rely on.
The next time you’re out and about, take a look at the businesses on the street corners. You might be surprised at what you can learn about the economy. By paying attention to the types of businesses that are thriving on street corners, you can get a sense of the overall health of the local economy.
