Don't Let The Bad Economy Get You Down!
Jul 2, 2009 6:06 pm US/Eastern
Co-Op Business Survives in '09
SOUTHWEST MIAMI-DADE (CBS4) ―
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Heather Rifkin owns Forever In Blue Jeans, but if it weren't for her business partner in a Co-Op, neither business would probably be surviving.
CBS
The economy is making it difficult for many small business owners to hold on to their shops, but a new concept may help change that trend. It's an adopted version of the Co-op concept, where businesses share resources to bring down their overhead expenses.
It's a concept that is working for two South Florida women: One owns a women's clothing boutique called "Forever in Blue Jeans." The store is located near The Falls mall in Southwest Miami-Dade. The other owns a baby store called "Five Cent Lemonade".
Heather Rifkin has been in business for a year. "My dream was to have my own boutique," said Rifkin to
CBS4's Jorge Estevez inside Forever in Blue Jeans.
Rifkin is friends with another south Florida mom who owns a baby decor and furnishing store called "Five Cent Lemonade." Melissa Weingarden has a background in design and has had her business for nine years.
"Very nostalgic. It wasn't mass market," said Weingarden.
However, the economy hit both ladies and threatened their businesses. "Everything was going to need to be shaved and cut back," said Rifkin.
Things got better once the two small business owners came together to share their bills and pool together their resources. The ladies are each running their own business under one roof.
"There are so many, where do I start?" said Weingarden.
"We have that flexibility of our schedules," said Rifkin.
The cheaper bills help these two mothers survive in 09.
"If someone walks in and wants to go to Five Cent Lemonade, they walk through Forever in Blue Jeans," said Rifkin.
The concept worked so well for them the ladies would recommend it.
"It's a fabulous idea. You have to have the right location and the right partnership and good communication," said Weingarden who agrees this is another way to get the most for your money.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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