The city of Holts Summit received proposals from three retail consulting or strategy companies that could assist the city in its efforts to bring more businesses to Holts Summit. City Administrator Brian Crane solicited the proposals from consulting firms.
"(There are) a lot of empty retail spaces in Holts Summit and no one really marketing those spaces to businesses," Crane told the board during its work session Monday night.
Crane previously told the Fulton Sun that the city has been looking for ways to boost retail development for the last few years. He added that the mayor and board of aldermen decided last year to take a "more active role" in the Fulton Area Chamber of Commerce and the city entered into a contract with the Fulton Area Development Corporation.
Crane said the city has spoken to a few consulting companies over the last four or five months. He received proposals, which he shared with the board of aldermen at its work session Monday night, from three companies: Retail Strategies, Buxton and The Retail Coach. Each company offers a different focus and approach to retail strategy.
Crane and Aldermen Jason Glenn both said they weren't sure how the city could swing a consultant that charges $50,000 - the estimated higher price range listed in the three proposals.
"I don't know how we can squeeze things around to come up with $50,000," Glenn said during the board's work session Monday night.
Of the three, Crane said Retail Coach is the least expensive, but added that each proposal offers the city something different. Glenn asked why Retail Coach was "substantially cheaper" than the other two companies. Crane described The Retail Coach as a more "supportive role" and said its proposal would call for the city to play more of a management role where as the other two companies offered different services. Buxton, he added, has a big focus on data and analysis to determine how and to whom the city should be marketing itself in terms of soliciting new businesses. The Retail Strategies company has a emphasis on its network of business contacts and recruitment assistance.
Initially, Crane said he considered the possibility of Holts Summit partnering with other Callaway County cities on a consultant to bring the cost down for each entity. However, he told the board he hasn't seen "quick movement" from neighboring cities on a potential partnership for retail consulting. He added that while the city is not in a rush, he would like to see it "move the ball forward as soon as possible."
With no property tax, Holts Summit depends on its sales tax base, Crane previously said. He said the city will benefit from more retail businesses. Adding certain types of businesses, he said, can also improve the quality of life for Holts Summit residents.
Crane told the board Monday that he wanted to update them on the city's search for a consultant to assist the city with retail development and marketing efforts. Crane said he will contact the three companies to see if they can pitch their proposals to the board in person potentially as soon as next month. During an in-person pitch, Crane said the companies would be able to better explain their services, the variety of packages they offer and costs.
To read more about Holts Summit's efforts to boost retail development, click here.