Tuesday, January 31, 2012

Snaps on Maps: Google Wants to Send Photographers Inside Your Business

Excited to see something like this in the works. Do you think you’ll take advantage of this initiative for your business?

Google wants to get all up in your business — but in a good way.

The search giant just unveiled an expansion to its Business Photos program, which aims to put indoor images of businesses on Google Maps and Google Places profiles. The program now has a clear way to hook business owners up with local photographers with its “Trusted Photographers” initiative.

If you’re interested in getting better photos of your establishment online, all you have to do is head over to the Google Business Photos page, then click on “Get Started” to see a list of photographers in your area who Google know can do the job.

That job includes both high-res pics of your location (inside and out) as well as 360-degree panoramic views, like this one.

The panoramic views are one of the most challenging parts, says Chris Favis, a Google Trusted Photographer based in Orlando, Florida.

“It’s pretty systematic,” he says. “Google loans us the cameras, and within the business you have to follow the rules, like getting the set of panos [panoramic shots] as soon as you walk in. The timing can be complicated — it’s a very specialized thing.”

Google says shoots should take about an hour, and the price is between the business and the photographer. Once the shoot’s done, the photographer uploads the images “shortly thereafter” to Google services, including Maps and Places.

Google has chosen trusted photographers in 14 U.S. cities, as well as some in the U.K., Australia, New Zealand and France. If your area’s not listed, you’ll have to wait, but Google provides a way to tell them where you’d like the program to expand.

Are you a business owner? Do you see a lot of value in Google Business Photos? Is this program something you’d use? Let us know in the comments.

Read more http://mashable.com/2012/01/27/google-trusted-photographers/

Friday, January 27, 2012

Central Northside Lots and Storefronts Being Filled


Three projects are filling vacant lots and empty storefronts in the Central Northside!
POPCITY writes:

In 2010 the Central Northside Neighborhood Committee (CNNC) released their vision for the community: to transform vacant lots and empty storefronts by filling them with thriving individuals, commerce, and families of all kinds. Three projects on Federal Street are helping that organization meet its ambitious goal.

The improvement projects could mean even more growth for the city as it is helping to stabilize current business, and POPCITY also includes:

Chris D’Addario, president of CNNC, says that people are resoundingly happy to see working begin on that block.

“To know that that anchor of our neighborhood is going to be an area that’s going to draw people, instead of scare people, is quite exciting to all that live here,” D’Addario says.



Sunday, January 22, 2012

How to Choose the Right Franchise Location

"Location" isn't just a buzz word. Choosing the right (or wrong) spot can make or break your business. Take a look at this article for a great overview of the in's and out's of choosing a franchise location.

Franchising can certainly be less risky than starting your own business from scratch. The franchisor has already done a lot of the dirty work for you: they've created a strong business plan, they've built strong brand name recognition, and they're usually responsible for most of the marketing and advertising.

Before you can build upon their good work, however, you first have to figure out precisely where you're going to locate your franchise business. A good franchisor will work closely with you, but the marketplace is crowded with other franchisees, and there's plenty to think about on your own when you're scouting a location that will open the door to a profitable business. Studies in the past have shown that franchises can fail at a rate of more than 30 percent within the first few years of operation.

The old adage still rings true when it comes to franchising: location, location, location. Here's our guide to picking the perfect site that will allow you to become a successful franchisee.


Selecting a Franchise Location: Know the Concept Inside and Out

The first step is to understand the concept of your franchise business. "Because there are so many different kinds of franchises, when you talk about location, your considerations really depend on the type of business you're getting into," says Tom Pitegoff, a franchise attorney at Pitegoff Law Offices, which are based in White Plains, New York. To find out what makes your franchise business of choice tick, you'll need to work closely with the franchisor to learn the answers to the following questions:

    * What drives traffic to the business?
    * Who are its target customers?
    * Where do those target customers live?
    * How and when do those customers interact with the concept? (Is it a restaurant that caters to the business crowd on their lunch breaks? Is it an emergency care center that needs to be close to where people live and in a safe location for late nights?)
    * Is it a destination concept? (Do your customers come to you?)
    * Does it rely on impulse sales, and so is a highly visible location a must?
    * Are your customers coming to you, or are you going to them? (In this case, location is less important and you might even be able to start a home-based franchise.)

Selecting a Franchise Location: Do Your Homework With the Franchisor

The reality is that each franchisor has its own specific set of requirements and regulations when it comes to selecting a site location. Everything you need to know will be spelled out in the Franchise Disclosure Document, but those documents can run upwards of 75 pages long. That's why building a strong relationship with your franchisor is so important.

Good franchisors (the type you want to be in business with in the first place) have already done a lot of the market research for you. It's in their best interest to keep track of demographics, and they'll share that data with you. They also have something you might not have as a first-time franchisee: experience. "We have the data to understand the market, but we also know what we've done in the past and how our business has performed in different areas," says Tariq Farid, the CEO of Edible Arrangements, a company based in Wallingford, Connecticut, which provides bouquets made of fresh fruit.

Many franchisors already have people on the ground in various regions, scouting out potential locations, keeping track of commercial development deals, and working with real estate brokers. "Quite often, the major developers are actually coming to us," says Les Winograd, a spokesperson for the international sandwich chain Subway, which is headquartered in Milford, Connecticut.

Investigate what sort of territorial protection you have, if any. "The common approach today with many franchisors, especially the more established ones, is to grant a location, but no territorial protection," Pitegoff says. Subway, for instance, does not guarantee an exclusive territory. They do, however, have a review process where interested parties are notified of an intention to open another location nearby, Winograd says.

On the other end of the spectrum is Noodles & Company, a casual dining restaurant based in Broomfield, Colorado, by which most locations are company-owned and company-operated. Noodles & Company is newer to franchising than a company like Subway, so it carefully selects which markets to expand to through franchising. "We're looking specifically for markets that are smaller than what we prefer for a corporate market," says Wayne Humphrey, vice president of franchise initiatives. "Or, we also look at markets that are very large so we can get critical mass more quickly."

Noodles & Company also guarantees franchisees a protected territory, within a one-mile radius. But if you think you've found the perfect site, be prepared to prove it: "We have a very stringent approval process," Humphrey says. "They have to make a presentation and sell it to us. We spend a lot of time with franchisees to get them thinking along the same lines we are."

Selecting a Franchise Location: Talk to Fellow Franchisees


Don't stop at the franchisor. It's a good strategy to solicit input from current franchisees as well to get a sense of the franchisor's management style.

For example, some of those prime commercial development sites might be difficult for a first-time franchisee to nab, because franchisors will want to give their best locations to franchisees with proven track records. "Initially, I think some franchisees get the impression that the franchisor will find the location for you," says Doni Pitchford, owner of a Subway restaurant in the Rochdale Village neighborhood of Queens, New York. "They did give me some sites to look at, but nothing of interest."

So, Pitchford took matters into her own hands. She happened to find a shopping center with a lack of healthy food options or restaurant chains with strong brand names. "You probably know your neighborhood better than they do," she says.

Selecting a Franchise Location: Carefully Evaluate Your Retail Site

What else makes a great retail-site location? More than half of franchises are retail businesses, for which location is especially important, says Phil Baugh, senior vice president of Baum Realty, which is based in Chicago and works with a number of large franchisors, like Potbelly Sandwich Shop and Haagen-Dazs. Think you've found the perfect site? Think again. You have some more homework to do:

Study the traffic patterns. Are you on a desirable side of the street? Baugh says that being on the sunny side of the street in the afternoon can make or break a Haagen-Dazs location. Consider the small details, like if drivers will have to make an unprotected turn across several lanes of traffic to reach your site.

Is there enough parking at your site? Make sure you visit the site at several different times during the day because there could be a popular restaurant in the same shopping center that monopolizes the parking lot during lunch and dinner hours.

Look out for your neighbors. In a typical suburban shopping center, you'll be sharing the space with a number of co-tenants, so do your research on them.

    * Competitors: Think about your direct competitors, not just in your shopping center, but also within a close radius of it.  Do you out-position them? (For example, Baugh suggests that if many of your customers are driving to you from a particular office park, you need to be closer to that office park than your direct competitors.)
    * Demand generators: If there are companies similar to yours that are doing well and driving customers to your area, you probably have a greater chance for success too, Baugh says. "If there's a really strong Chipotle near you, and you're going after that same type of customer as a sandwich shop, it shows that there are a good number of customers in the market," he says.
    * The tenant mix: Check out the other tenants in your mall, shopping center, or nearby area. "If you have a child care franchise and you're trying to attract parents and their children, you don't want to be next to a liquor store," says Jania Bailey, president and COO of FranNet, a Louisville-Kentucky-based franchise consulting firm. Try to find a space with companies that are complimentary to your product or service. If that's hair care, it might make sense to be near a tanning bed or a nail salon, she says.
    * The anchor store: It could really benefit your business to be near a major store like a Wal-Mart or a grocery store, but your strategy shouldn't rely entirely on the biggest tenant of a shopping center to help drive your store's sales. That location could easily close or relocate, or it can even end up hurting you if it's monopolizing parking spaces.

Be financially realistic. In the end, a location is only perfect if you can afford it. "Sure, everybody would like to be at Rockefeller Center," Baugh says. "But it's really about understanding the economic realities of your concept." He says that for restaurants in particular, it's standard that 8 to 10 percent of sales would go to the total occupancy costs. "If you're above that, you've given yourself a headache even before you've opened the door," he says.

Selecting a Franchise Location: Recognize that Criteria are Different for Non-Retail Sites


Retail franchise businesses only account for part of the wide variety of franchise business options to choose from. For instance, Jani-King is one of the world's largest commercial cleaning franchises. Each one of its franchise owners is home-based, says Robert Kindred, a spokesperson for the company, which is based in Addison, Texas. "It's to make it as easy as possible for the franchisees, and to keep their costs down," he says. "We have regional offices to provide training, operations support, and marketing materials."

It makes sense to pursue a home-based franchise when you are going to your customers, rather than your customers coming to you. A similar business is industrial franchises, where again a highly visible or easily accessible location is of less importance.

Instead, you can focus more on finding a manufacturing facility or a warehouse with a low cost of rent. But in these cases, you still need to think about your target customers and select the territory with the greatest density of those customers, Baugh says.

Selecting a Franchise Location: Close the Deal With a Professional

Once you think you've got your perfect site, work with a real estate broker and a franchise attorney to seal the deal. "It's a very specialized science," Baugh says. "It's much more complex than looking at the size of the building and the rent. A lot of factors go into the site that could create a lot of headaches and cost a lot of money."

You can expect a good amount of support in the final negotiations from a quality franchisor. "I really didn't know what to look for in a lease," Pitchford says. "Subway did most of my lease negotiations for me."

You've spent most of your time focusing on selecting a site, but a professional will carefully examine details that you might easily overlook. For example, you'll want to make sure there are extensions on the lease, or that if a major tenant in the shopping center closes or relocates, that there is a provision to lower your rent as a result.

"They should really represent your best interests," Pitchford says. "They want to increase the probability of you being successful." 


Read more http://www.inc.com/guides/2010/05/choosing-a-franchise-location.html

Friday, January 13, 2012

Entering 2012, investors see commercial real estate as a good bet

We still have a long way to go, but this is very promising.

As 2011 came to a close, some commercial real estate experts found promising signs in often troubled markets.

The office market is gaining interest from investors amid a mixed bag of property-related economic fundamentals such as improvement in employment and business expansions, a recent survey showed.

Commercial real estate continues to offer attractive yields compared with alternative investment vehicles, said respondents to a quarterly poll by consulting firm PricewaterhouseCoopers.

"Despite a sluggish U.S. economic outlook, the majority of surveyed investors view commercial real estate as favorably priced and a good play," said Mitch Roschelle, the U.S. real estate advisory practice leader at PwC, as the firm brands itself.

Investors are bullish on the general prospects for office buildings, the largest commercial real estate sector. They expect to see occupancy stabilizing and rents rising in many markets this year. Most attractive are office districts that have abundant tenants in technology or energy businesses.

Rent growth is expected to be highest in San Francisco, New York and the Pacific Northwest. Los Angeles ranked ninth among 51 markets as a desirable place to invest.

Newer, well-located industrial and retail properties are sought out by investors, but apartments took the crown as the most favored real estate category.

"Investors continue to view the apartment sector as an attractive play in delivering steady cash flows driven by solid rental demand and rising rents," said Susan Smith, editor in chief of PwC's survey. "As a result, investors view this sector as a hotbed for further investment activity."

Read more http://articles.latimes.com/2012/jan/02/business/la-fi-property-report-20120102

Monday, January 9, 2012

Tips On Purchasing


Purchasing commercial real estate can be a huge step! It can be a variety of things: fun, rewarding, scary, and it can skyrocket your business... As long as you abide by all the legal formalities.

One article from Women in Networking reads:

When purchasing commercial real estate there are common tips that every buyer should consider.  The typical tips include educating yourself regarding responsibilities of owning commercial property.  It would be wise to seek the advice of a tax practitioner regarding the tax consequences and to consult an attorney on how to structure the purchase agreement to your advantage.  If you are using the proceeds from the sale of other property then you will want to consider the tax advantage of a like-kind-exchange.  You will want to have the property appraised and inspected.  You will also want to do your due diligence on the property you choose and inspect the property’s documents.  This may include any leases and guaranties, title inspection, the rent rolls of the property, tenant correspondence, contracts, real estate taxes and assessments with statements, the building plans, operating statements, the most recent budget for the property, all certificates of occupancies for the building, all permits, licenses or other authorizations or approvals required by law, a list of the personal property included with the sale, all warranties, prior surveys, insurance policies and certificates of the tenants and all environmental reports including any phase I or phase II reports pertaining to the property.


Atlantic Territories can help you with these steps! We can provide the professional guidance that you need to go through "all the hoops" the right way, the first time! If you're ready to purchase commercial real estate even for the first time please visit our website!

Friday, January 6, 2012

Why You Need a Commercial Realtor

There’s no point in saving money by going at it alone if you don’t end up getting what you want. But don’t take my word for it – check out this article published on Inc.com and you’ll see what I mean. Then give me a call and we can get started.

We thought we'd save money by acting as our own leasing agent. That's how we learned--the hard way--what realtors really do.

A good commercial realtor is worth his or her weight in gold.

To many of you, I may just be stating the obvious. But we learned this the hard way.

Last year my small company needed to relocate to a bigger, better space.  We knew that we would continue to lease, where we needed to be located (generally), how much space we needed, and roughly how much we could spend.

Armed with that information, we figured it would be in our interest, and in the interest of our future landlord, if we acted as our own leasing agent. We could then take the money we saved by not having a realtor and split it with our landlord. That would make us a more attractive tenant, right?

Wrong.

I guess, in a sense, forgoing a realtor did make us a more attractive tenant. When building owners realized we did not have representation, they thought they could take advantage of us. And without a realtor acting on our behalf, we were also often seen as a company that didn’t need to be taken seriously.

We didn’t know any of this in January 2010, when our quest for a new location began. We scoured online listings and drove around acceptable neighborhoods. We even called listing agents directly to see spaces, even though it’s Real Estate 101 that you should never do this. That’s how sold we were on our belief that landlords would share our enthusiasm for saving money.

We looked at many buildings. Some were good, some were bad. We did our own CAD work to figure out if a space would work. (That part of going it alone worked.) The building owners were generally happy to give us CAD data for us to work with, so there was no need for us to work with an outside architect to figure out how we could actually use the space in a prospective building.

By summer, we felt ready to offer our proposals to the finalists. We figured that any of the options would be acceptable, and that we could use each as leverage against the other.

At least, that was our plan until the first proposal was ignored. The other proposals were all replaced by the building owners’ own proposals, which bore no resemblance to what we had drawn up. We started to negotiate a lease for the space that we liked best, but after weeks of going around in circles it was clear that we weren't getting anywhere.

So we bit the bullet and hired a commercial realtor. Thank goodness. We had done a great job of figuring out which space and location would work best for us, but the real value the realtor provided was negotiating the terms of the lease and the build-out provisions.  We didn’t get everything we wanted, but we got a lot more than we would have otherwise. We got a significant rebate to cover build-out costs, reasonable repair terms, and the ability to have dogs in the office. And, of course, the wisdom not to try this on our own next time.

Read more http://www.inc.com/hans-steege/why-you-need-a-commercial-realtor.html

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