Hoboken Business Watch List
Not all businesses in Hoboken are guaranteed to succeed
It’s a complete fact of life, not just in Hoboken, but all over the country – that some businesses do great, and others “come and go.” Happens each and every year here in Hoboken. The business landscape changes. Whether it’s draconian regulations from the city that doom some businesses, or just bad business acumen from the franchise or entrepreneur that made the decision to take a crack at the mile square money pool.
Sometimes it’s over-saturation (like with yogurt places or falafel joints), or complete lack of market research.
But a couple establishments recently came into discussion with friends: Places that might have a hard time making it in Hoboken. While we never wish anyone to fail, it is inevitable – and a discussion about it does no harm.
Poor Cat Designs
We mentioned this when Poor Cat Designs opened, that they apparently have a very “trendy” business that seems to be popular on social networks – but we’re not so sure that translates too well for “midtown” Hoboken. Additionally, they didn’t seem to do any research or mainstream marketing before they opened, and have a pretty high price point for the majority of their “trinkets,” regardless whether Justin Bieber likes them or not. A lower price-point line may benefit them. Who knows. The consensus was fairly high that this place will be vacant again in 2014.
Red Mango Yogurt
Hoboken has a lot of frozen yogurt places (“FroYo” for the linguistically lazy). There was a time that there were so many “self serve” yogurt shops, you couldn’t walk a block without seeing one. However, many fell by the wayside, and we have a few that were left standing. One of them is Red Mango Yogurt. For some reason, every time we walk by, there is no one inside. That, coupled with the fact they recently had a long-running Groupon ad – makes you wonder if they’re able to pay the steep Washington Street rents. Perhaps Frozen Yogurt is “over?” Time will tell…
Any other places on the precipice of doom in Hoboken?