TAMPA, Fla. — A Bay-area business owner says that when he set out to expand his company, he ended up with more than what he bargained for.
Instead of getting a space for one business, Christopher Cunningham bought the whole block. It’s a trend he hopes will catch on, especially for minority-owned businesses.
What You Need To Know
- Christopher Cunningham says that when he was looking for space for his water restoration business, he ended up buying the entire block on N. Nebraska Avenue
- Along with his business, he is now the owner of a True Value Store
- According to Small Business Administration, Black business owners own more than three million businesses
He says power tools, screws and hardware aren’t what he had in mind when he opened his water restoration business in Tampa.
Cunningham is the owner of a True Value Store and his water restoration business, Dry 24, located at 9513 N Nebraska Ave.
“From the inside it looks really small but there’s actually 1.88 acres here,” he said. “Initially, I was just looking at buying the store. I got a chance to talk to Mr. Chelle, and he said, 'You can buy the store, but you gotta actually buy the whole block.'”
Cunningham now owns five buildings on the block — something he says is a huge feat for a Black business owner.
“I think it’s important in the city of Tampa — Tampa is 24% Black — I think it’s important that there’s more Black businesses and that the corporate partners and the people that receive tax dollars, the private companies that benefit from the Black businesses, actually spend back,” he said.
According to the latest numbers from the Small Business Administration, Black business owners currently operate more than 3 million businesses.
Cunningham said the strategy of promoting ownership and investing in the community is going to be key to making a difference in an areas that are in serious need of growth.
“I try to help underserved areas," he said. "You see food deserts but there’s deserts when it comes to stores, deserts when it comes to home improvement. A lot of major companies aren’t willing to invest hundreds of thousands of dollars into this area but this area has great bones."
Cunningham's business portfolio now includes his water restoration company, the True Value Hardware store and a warehouse.
Cunningham said he isn’t stopping there — his dream would be to add a food option in the area, and potentially build even more.
“A lot of times, people just sit and complain about problems," he said. "Then others pour gas on it, and then others decide to be the solution. And that’s what we want to do. I personally want to be the solution."