University of Memphis senior Ryan Siddell isn't rich, butwhatever money he has he generally spends near campus.
"It's real convenient to stay close to campus," Siddell said."Even though I don't have the money, I'll go get lunch betweenclasses."
Nationally, 69 percent of college students, like Siddell, eat aa near campus fast food restaurant, according to a recent studyconducted by Student Monitor a market research company thatspecializes in charting the spending patterns of full-timeundergraduates at four-year colleges and universities.
College students have a considerable economic impact on thebusinesses in the surrounding their respective campuses, accordingto the study.
Like many local business owners, Mike Garibaldi of Garibaldi'sPizza, said he owes a large percentage of his business to U of Mstudents. About a quarter of Garibaldi's business comes fromstudents, who make up the majority of his lunch crowd, he said.
"If you look at our prices, we try and make it affordable (forstudents)," Garibaldi said. "We know they don't have a lot ofmoney."
Garibaldi also offers additional discounts for student groupsand organizations.
"Students are consumers of goods and services," said LewAlvarado, research associate at the Fogelman College of Businessand Economics.
"Even if students spent just $100 a month, you're talking aboutan economic impact in the millions," Alvarado said.
In a national study, fielded online by Harris Interactive duringthe spring 2002 semester, college students spent on average of $287a month on "discretionary items like beverages, fast food andentertainment."
Turtle's Music on Poplar Avenue near The U of M campus has givenpromotional music to campus organizations in an effort to enticerepeat business.
"We've done it in the past for fraternities and things likethat," said Geoff Albert, general manager of Turtles.
Other businesses advertise in The Daily Helmsman or other campuspublications offering discount coupons.
Last year, Siddell ate Kentucky Fried Chicken every Thursdaynight because of a coupon in a campus publication. "It was a threepiece meal for $2.99," he said. "I went there faithfully."
Because there are more students living on-campus in the springand fall semesters, many businesses see a decrease in revenueduring semester breaks.
"During the summer and winter break we see a slight drop-off,but it isn't significant," Albert said.
The U of M had 16,636 students enrolled at the beginning of the2004 spring semester, and local businesses know the impact thosestudents can have on their bottom line, business owners said.
"If you're close by, you would be crazy not to cater to theneeds of the students," Garibaldi said. "Each business (in thearea) is impacted by them."
