A new offering for small businesses
Local Return is debuting a new program, Anchor the Block, to help small businesses who wish to consider or pursue buying a commercial building. Anchor the Block is a 12-hour program of education and exploration, designed to help small business owners consider real estate ownership. We sat down with Local Return co-founder, program architect, and chief pun officer Josh Daly to learn more.
Where did the idea for this program come from?
During the pandemic, we saw how beloved small businesses were facing evictions and closures. At the same time, in my years of helping small businesses own real estate, I had seen the power it can have to provide stability for both the business and the neighborhood. The gap was knowing how to navigate the process successfully, which is exactly why I designed Anchor the Block.
How do I know if ownership is right for me as a business owner?
It’s not for everyone, but if you want to put down roots and be in your own space for some time, if you want to build up equity alongside your business and see the upside of investments you make in your space, if you’re interested in potential additional revenue from business and/or residential tenants, it’s worth exploring. We help you do that in this program.
What does the program consist of?
It takes place over six sessions, which you’ll go through with a cohort of other small business owners, covering the case for ownership, finding a property, building your team and working toward a successful closing, funding the project, managing construction, and property management. The sessions are practical and hands-on with worksheets and spreadsheets that let you dive in and set you up for success. I’ve also been known to make up a game or two, to keep things interesting!
How do I sign up?
If you’re a business owner who is interested, we have an interest form on our website. Fill that out, and I’ll be in touch. For any community partners, we’d love to co-host an info session with your network or you can refer businesses that you think would be a good fit.
