Nov 18, 2021 - Business
The Groove asks for help
The Groove record store and performance space is asking for help to buy its East Nashville building after the landlord is looking to sell.
- The Groove's owners started a GoFundMe campaign looking to raise $500,000. There's a deadline of Jan. 31, 2022 to meet the asking price or else the shop will have to relocate or close.
Why it matters: From beloved dive bars to music venues and mom-and-pop restaurants, the Nashville real estate market has made it tough for small businesses to stay afloat.
- That's especially true of creative businesses such as The Groove, which enhance real estate values.
What they're saying: "Nashville is a hot market and while that is great for all business, it does create hardships for small businesses such as ours," The Groove's Jesse Cartwright said in the GoFundMe post.
- "Many are tasked with coming up with unimaginable amounts to purchase property to continue operating, face exponential increases in rent, are forced to move, or ultimately end up shutting their doors for good."
- As of this morning, the campaign had raised $12,455.
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