Today, while walking through the Granville area, the festivities are still in full swing because of the FIFA games. Many businesses are benefiting tremendously, especially after reports of restaurants and bars running out of alcohol — a clear sign they’ve been making serious money. Interestingly, just one block away from where the festivities are cut off, it’s a completely different story.
That stretch is quiet, and those businesses are getting virtually none of the economic boost. It’s a stark reminder that not everyone is winning from these big events. It really makes you think: you can have the best product or service in the world, but if you’re in the wrong location, you can still miss out on huge opportunities. Meanwhile, someone with an inferior offering in a prime spot can thrive.
Positioning is everything. I know a lot of people say, ‘If your product is good enough, customers will find you.’ That might be true in some cases, but for many businesses — especially food and drink vendors — being in the right place at the right time can be the difference between booming and going bankrupt. That’s why businesses are willing to pay a premium to secure spots at busy intersections or high-traffic areas like the Granville strip.
The higher rent or permit fees can be worth it, not just for the immediate sales, but for the massive exposure and publicity you gain. Even if you only break even during the event, the long-term benefit from that visibility can be huge. In the end, having the best service isn’t always enough — you also need to be where the people are.