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Why are businesses closing in Cape Coral?

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Why are businesses closing in Cape Coral?

By Katie Jones. CREATED Jun 18, 2014

CAPE CORAL, Fla.- In light of recent businesses closing in Cape Coral, we wanted to know why.

Crazy Olive and Red's Fresh Seafood are just a couple to call it quits in recent months.

Cape Coral Chamber of Commerce President, Mike Quaintance, said the restaurant business is a hard one to be in.

"80 percent of them survive their 1st year by year 5 there's only 50 percent left by year ten there's 35 percent left."

"Smaller businesses struggle because they don't necessarily have the resources large chains do," Quaintance said.

Those large chains are a big competition to the owner of Red's Fresh Seafood who said his "fresh" philosophy doesn't always work out in their favor.

"The difference is that grouper, triple tail and all the nicer, local fish are $14,$15.95 a pound."
 
When fish from Vietnam, Thailand are $1.95, $2.25 a pound," Bud LoCicero said.
 
But for others, like The Crazy Olive, it is a little more personal.
 
The owner posted on Facebook that he wants to move to a more "business friendly city".
 
We took that concern to Cape Coral Mayor Marni Sawicki.
 
Fox4 asked: Do you consider Cape Coral not business friendly?
 
"No, I don't," said the mayor.
 
"When I researched everything usually it's mis-communication between the in-betweens, architects or designers," Mayor Sawicki said.
 
City officials said they offer seminars and networking opportunities to educate new business owners.
 
Mayor Sawicki said she not only wants to keep that, but bring more to the Cape.
 
"That's something that we as a city need to continue to focus on is business plans and working with owners on how to be successful," Mayor Sawicki said.

 

Katie Jones

Katie Jones

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Katie Jones is a reporter for FOX 4 news.