...but they won’t look like the small businesses of 30 years ago.
I predict very niche, upscale small businesses —$50.000 t-shirts and organic, holistic bakeries —aimed at very fragmented demographics. The day of new Greek diners is long gone.
The children of the diner owners, if they stay in the business, tend to open more upscale restaurants on the same site, including "upscale diners" (see the place on 14th and 9th in the Meatpacking district). Tastes change with the times and the generations, but even many young people don't want an impersonal world of SOLELY composed of Best Buys, Chipotle, and Whole Foods.
Speaking of young people, I still don't understand the whole "cupcake" phenomenon. Lining up for something mommy used to make, I guess.
I'm 32, and already feel old around such people.