Bank officer outlines retail gap analysis as local businesses report staffing and revenue strains

Sean Skabo, commercial loan officer with Franklin Savings Bank, described a retail gap analysis performed for downtown Concord in 2014–2015 that compared retail supply and demand across 1, 4 and 7 mile radii using demographic data and Nielsen ratings. Skabo said the Concord analysis identified both overabundances (for example, car dealerships) and gaps (such as furniture stores), and that the approach could be adapted to help Boscawen recruit businesses after local revitalization work.

Danielle Bourque, manager of Alan’s Restaurant, provided an update on the local business climate, saying high gas prices and broader economic conditions have reduced revenues over the last year, though catering work remains steady. Bourque also described continued difficulties recruiting and retaining staff for the restaurant and catering business.

Committee members expressed support for participating in next year’s Concord Business Expo and agreed to continue outreach to encourage responses to the Boscawen business survey. No regulatory action was taken; the discussion focused on tools and outreach to support local business recruitment and retention.