I'd like to meet:
When it comes to buying power, African Americans don't know what percent they control. Noticing a need to keep spending power in the community, Murphy Paschall, a former 8 year veteran of the Baltimore City Police Department, born and raised in the northeast section of Baltimore, has founded BOBO LLC or Black Owned Black Operated LLC. According to the Advertising Educational Foundation website, the buying power of African Americans, Asian Americans and Native Americans in 2007, according to the Selig Center findings, should be more than triple its 1990 level of $453 billion, totaling almost $1.4 trillion. That represents an increase of more than 200 percent over the 17 year period. The Selig Center also finds that African American consumers spend more than other groups on products and services such as telephone services, personal-care products, electricity and natural gas, children’s apparel, and footwear but only about 6%-7% stays within the African American community.One of the main reasons for this loss of African-American spending is that we as consumers don't spend a large portion of our income with Black businesses because we don't always know where to find them. BOBO LLC has developed a 4-inch by 6-inch logo/decal that is affixed to store-fronts to allow consumers to identify which businesses are owned and operated by African-American's. BOBO LLC also offers a t-shirt that serves as a marketing tool for this concept as well as the prototype for an urban clothing line. For more information on BOBO LLC contact: Murphy L. Paschall [email protected]