Fremantle’s new business improvement district or BID
June 18, 2012 7 Comments
Today I attended a very interesting talk on the Fremantle business improvement district otherwise known as the BID. The talk was by David West who has help put together BIDs around the world and has been advising Fremantle on reviving our struggling retail and our BID.
The Fremantle BID will be the first fully fledged BID in WA in which Fremantle businesses will be given the power and resources to improve the conditions for business in Fremantle.
David showed how successful BIDs round the world focus on four key areas – like a shopping centre but for main streets:
1. Management including cleaning, security and customer service
2. Marketing the city as a destination
3.Tenancy mix including lease renewals match to market research, performance monitoring, and perhaps making vacancies into pop up shops. Ie how do we ensure we are more than a
4. Capital works investment such lighting of buildings, bins, banners etc.
Research showed that the preferred priorities of the priorities for the Freo BID were
- Retail marketing
- Clean and attractive CBD
- Consistent branding.
I think BID model will enable some exciting innovation in Fremantle retailing from those who care know retailing best – the retailers. New York, for example, already has 65 BIDs and BIDs on average five times the amount levied.
As a closing comment, I noticed a slogan for a BID area in the UK that I thought rang true for retail in Fremantle as well. It was “Anywhere else is just shopping”