FISHERS, Ind. – A handful of businesses in Fishers say they’re hoping to cash in on the projected success of IKEA and Topgolf ahead of their grand openings.
IKEA’s grand opening is on Wednesday, Topgolf’s is on Friday. Experts say with their openings, will come lots of increased traffic to the Fishers area. Managers for local shops and restaurants, particularly those located along 116th Street, say they’re hoping the increase in traffic will translate into more customers for their businesses.
“This is the main street for all the IKEA stuff, it’s all right here so it can’t be avoided but we don’t want to avoid it either,” said Conner Rodeman, a barista for The Well Coffeehouse.
“I feel like our lunch rush will get a little larger. So we are looking to schedule more people and get a few more hands on deck,” said Andrew Urban, manager for Greeks Pizzeria.
Experts, like Butler University economics professor Bill Rieber, say it is likely that businesses will experience an overflow of customers coming from IKEA, Topgolf and Portillos.
“With the additional traffic, all of the competitors in the area might benefit,” he said.
Rieber says not only will businesses likely benefit, but employees of those businesses have a chance to cash in as well. He says that’s because the increased demand for workers in the area could lead to wage growth.
“We’ve heard so much about the recent recovery, and how unemployment has declined, but wages have remained stagnant. This is a nice opportunity for workers to enjoy higher wages,” he said.
Rieber says it’s likely all the other businesses have to do now is market themselves and reap the benefits.
“With the additional traffic you want more hours, so they can do their own marketing campaigns, but being open is what’s crucial,” he said.
One thing Rieber says businesses should do to maximize their profits is stay open longer. He says IKEA and Topgolf certainly have the ability to bring in people from outside the area who may be looking for a more local experience after a day of shopping.