For small businesses in the Big Apple, next month's Super Bowl may seem like one of the major benefits of incorporating in New York.
The city isn't exactly hurting for tourists' dollars, but the many visitors who will flock to see the game and partake in the festivities will bump up those revenues by about $600 million. Essentially, any industry that has anything to do with transportation or hospitality, including hotels, cab services and restaurants, will profit handsomely, especially as compared to this time in a normal year.
It isn't just the volume of people coming in relation to the game, it's also the quality: fans willing to travel to another city for a single-day event tend to have more resources than the average tourist, and are willing to spend a bit more profligately. This all adds up to unusually strong performances for small businesses.
One fleet service, Luxor Limo, has already invested $20,000 in social media costs to try to nudge visitors to use his product. Despite the large overlay, owner Shlomo Chkifati expects that the final tallies from the weekend will be more than ten times that amount. In an interview with the New York Daily News, he was enthusiastic about his prospects.
"Nothing comes close to this," Chkifati said. "Everyone in New York City that has to do with transportation, bars, hotels – all will be making money."
The opportunity presented by the Super Bowl proves that a thoughtfully planned out small business can thrive, especially when they're well positioned to take advantage of the unique opportunities afforded by their location.