The 3/50 Project-Coastal Illustrated February 2010

The 3/50 Project Karen Hendrix

No one can claim that the past 18 months have been the best of times. The current economy is tough. Nationally, jobs are disappearing, houses are going into foreclosure and many of us that do have jobs are having difficulties making ends meet.

It is even harder for the small business owners on Main Street USA. Main Street is where our economy has traditionally begun. When Main Street is doing well, then we all are, when Main Street is struggling, we all struggle. It’s official; this nation’s small business owners are really struggling. On every corner, some of your favorite stores, hangouts and restaurants are closing. Merchants are seeing sales and store traffic decreasing with each month. Why does it appear that there is no one looking out for the small business owner? Is there a way that we can bring together these small business owners and the members of the community to save our Main Street? Can something be done to save these establishments that have weathered the storm so far?

Absolutely—there is something we can all do! Enter The 3/50 Project. Pick 3, Spend 50, Save the Local Economy.

In the spring of 2009, Oprah Winfrey started a war. She advised consumers to stop all discretionary spending and spend money only on the necessities like food, rent and utilities. The national media took this advisory and ran with it. As a result many consumers were sacred to spend and business owners were scared that they wouldn’t. The possible results of Oprah’s suggestions? A national and local economy that could come to a screeching halt leading to more layoffs, foreclosures and bankruptcies. Cinda Baxter, a former small business owner and retail consultant, heard about Oprah’s plans for consumer austerity and became concerned about the potential negative effect on small businesses across America. Frustrated about the pessimistic way all of this was being reported on by the national media, Cinda decided to do something about it. The concept had to be simple, affordable and easy to understand. As a former stationary store owner, she understood that a community needs to support local businesses in order for the businesses to help the local economy improve. The result of her ideas began a grass roots initiative known as The 3/50 Project.

The 3/50 Project is a concept that asks the local consumer to:
Choose Three Businesses (the 3) in your community that you would hate to see close. Go visit them. Pick up a little something for yourself or a friend or chat up the bartender while you sip a cold beer at the bar.
Commit $50 (the 50) of your current monthly spending to locally owned businesses. If only half of the US population did this, it would annually generate more than $42 billion dollars in revenue. Locally on St. Simons Island, where we have a population of around 15,000, that number could reach upwards of $750,000.00 annually. For every $100 spent locally, more than $68 returns to the community. If that same $100 is spent in a big box national chain, only $43 stays in the community and nothing remains in the community for purchases made over the internet. Simply put, The 3/50 Project suggests “Pick 3, spend $50, save your local economy”.

The 3/50 Project is not asking the consumer to never go to a big box or chain store. There are some items that can only be purchased at these stores. The 3/50 Project simply asks that you shop your independent retailers as often as you can. These businesses are run by owners that spend every waking moment thinking of ways to make their businesses better for you. Shopkeepers bring in the best merchandise they can find, restaurateurs perfect their signature recipes and all will remember your name when you walk in the door. Wouldn’t it be a shame if the next time you wanted to run in for a little something, your favorite place was gone? By redirecting at least $50.00 a month to your local entrepreneur that money is invested in your future. That $50.00, multiplied many times over, makes it possible for local businesses to pay property, sales, and employment taxes. Those taxes in turn finance your public services, local schools and community improvements. Not to mention that it keeps the American Dream alive for your neighbor.

How can we help? How does this work on St Simons Island? Can we use this simple plan to help out local businesses? Every business owner knows that it is the locals that keep them in business. The tourists that come every year are great, but most business owners cannot rely on these visitors alone to keep us afloat during the off months. Become a part of The 3/50 Project and fight to keep our local businesses open. If you are a consumer willing to go the extra mile for your favorite establishment to stay in business, it does not take much. You don’t need to go and spend hundreds of dollars (although that would be great) to make this work. Go and visit your favorite haunt. Tell the owner how much you value their business and then spend a few bucks. If you are a business owner and want to help spread the message, go to
The 3/50 Project website at: www.the3/50project.com or www.facebook.com/the3/50project for more information.


Karen Hendrix is the owner of AccentsMarketplace, a home accents/gift store on St Simons Island. Please contact her at karenhendrix@comcast.net if you are interested in help spread The 3/50 Project message. The Coastal Illustrated will be following the success of this project and how it affects the local economy.