Sperity Real Estate Ventures

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Setting The Scene With Fuzzy Cactus

Michael Cipollone and Drew Schlegel’s worlds collided in Richmond, giving rise to a new music venue and dive bar, Fuzzy Cactus was born.

What happens when a musician from Ohio and a music enthusiast from Texas bond over the shared experience of artistry, touring and western dive bars? Michael Cipollone and Drew Schlegel’s worlds collided in Richmond, giving rise to a new music venue and dive bar, Fuzzy Cactus was born.

“It started as a conversation, and after a while I was ready to move on from [my previous place of work.] I wasn’t sure what I was going to do, but I wanted to remain independent and work for myself. So, I started kicking around the idea of opening a music venue and bar.”

Location was an obvious concern for the business partners. Drew had built up relationships in the RVA food and beverage community as a bartender, and these friendships spurred a meeting with Sperity Real Estate Ventures.

The Sperity Team came on board as knowledgeable allies and guides which the Fuzzy Cactus partners needed. Michael and Drew were looking in Brookland Park, but at the time there was nothing available that fit their needs. They eventually found a spot in trendy Scott’s Addition.

“We signed the lease, and we thought the place was ours, but the property management company decided last minute to move forward with someone else,” Michael said.

Although it was devastating in the moment, the fall through became a blessing in disguise. Their first choice of location, Brookland Park, had a building available that could work for them. Veronica swiftly arranged a meeting with the landlord’s agent and the rest is history.

Veronica suggested they keep some key elements for nostalgic purposes so the clothing rack behind the bar pays homage to the dry cleaners.

The 3100 square foot space has multiple perks that contributed to a favorable community reception. The memories the location held for denizens of Brookland Park proved to be one of the most noteworthy. The space used to be a dry cleaners and during the buildout, neighbors would come in with fond anecdotes of the old business in its prime. Veronica suggested they keep some key elements for nostalgic purposes so the clothing rack behind the bar pays homage to the dry cleaners.

It also helped that the Fuzzy Cactus team was allowed creative freedom by the landlord. The modern-retro interior transformation was the final touch to give the space an aesthetically unique edge.

Michael and Drew attribute the success of the location to the work of  Veronica and the Sperity team. As first-time business owners, the counsel they received was invaluable.

Michael and Drew attribute the success of the location to the work of  Veronica and the Sperity team. As first-time business owners, the counsel they received was invaluable. Veronica and Robb’s rallying behind the Fuzzy Cactus vision reassured them and left a lasting impression.

“It seemed like everybody that we worked with over there was somebody we could have a conversation with from all walks of life. It was pretty comforting.”

Fuzzy Cactus is located at 221 W Brookland Park Blvd.

Fuzzy Cactus is located at 221 W Brookland Park Blvd.

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How to Protect Your Commercial Property During a Harsh Winter

Photo by Ramiz Dedaković on Unsplash

Snowflakes dance and twitter as they fall from the sky, but when they pile up on a roof, they can cause

long-lasting damage. Snow is heavy, and with the dancing snowflakes comes the bitter cold that seeps into the bones, and the interior workings of buildings and concrete. Cold and snow can be damaging to property, which is why you should know how to protect your commercial property to survive a harsh winter.

Winterize Your Roof

Your roof is an important factor to keeping your building safe and secure. If there are leaks, the winter storms can cause heavy damage to your roof come spring. It’s important to make sure that there are no places where the roof can leak, which requires an inspection. Most roof inspections are done in the fall, to assess how the winter will affect the roof and prevent damage, and in the spring to assess what to do to repair the winter damage. Winterizing your roof requires hiring a professional to look at and gauge what should be done to your roof to protect it for the long winter.

Keep Concrete and Asphalt Maintained

Another thing you can do is maintain the concrete and asphalt of your property. Cracked concrete can break apart further during the winter when water melts from the snow, seeps into the cracks, and then freezes, expanding the cracks. Ice can cause potholes to start to appear in your asphalt and concrete. Sealcoating your asphalt prevents the cold from expanding the surface and doing further damage. Maintaining your concrete and asphalt not only prevents damage, but it keeps your property looking professional throughout the winter.

Prepare the Grounds

Another way to prepare for a harsh winter is to prepare the grounds. If you have a lawn with trees and shrubbery, it’s important to give them the care they need so they can slumber the winter away. Trees should be pruned back, and the grounds should be fertilized and mulched to protect the plants during the long winter. If you have potted plants by the doors of your commercial property, take them inside for the winter so that they can have a warmer climate.

Your commercial property can survive the winter if you take the proper care of it. By winterizing your roof, maintaining concrete and asphalt and by preparing the grounds, you ensure your building will be ready for spring.

Do you want to buy a commercial property? We can help you find one! Contact us to get started.

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Ipanema Cafe

Ipanema Cafe. It’s an iconic Richmond restaurant at 917 W. Grace Street, nestled in a basement with a small patio, among Virginia Commonwealth University buildings and frequented by students. It boasts an entirely vegetarian and vegan menu, and has from the beginning — way before the trend picked up in recent years — and is often the go-to spot for students and locals living in The Fan.

Recently out of college, Kendra Feather found herself with the opportunity to take over the lease from her then-boss at The Bidder’s Suite restaurant where she waited tables. So she took a risk and seized the moment and Ipanema Cafe was born. 

“I was pescatarian,” Kendra shared, “but I just felt like [vegan and vegetarian] was something that wasn’t available in the market at the time. It forced me to learn about other ingredients.” 

21 years and several businesses later, Kendra had become one of Richmond region’s leading restaurateurs. But she was beginning to feel like she was no longer the right person for the job at Ipanema.

“I don’t really relate to the 20 somethings that are frequenting Ipanema and I didn’t feel like I was doing a great job anymore.”

Of the restaurants she had, she decided this one made the most sense to sell.

Kendra knew all too well the difficulties that go into opening a restaurant and she wanted to make sure that whoever she sold Ipanema to was going to be the right fit. She talked with a couple of people before deciding on working with Nathan Hughes and the Sperity team. Her and Nathan would often chat at Garnett’s, another Richmond restaurant staple located less than a mile away on Park Avenue, also owned by Kendra.

“I’ve known him forever…Nathan has always been a source of information and help whenever I needed it.” 

Kendra had a few requirements for new ownership, and she wasn’t looking to sell to the highest bidder. She was looking for the right person and the right situation. She was willing to take her time for that to happen. She also wanted to ensure that whoever took over would keep the current staff.

That’s when she met Seth Campbell. A recent University of Virginia grad, Kendra felt Seth was the perfect candidate. He was interested, he appreciated the financial support, and Kendra felt he was an all-around sweetheart who she felt good about leaving her staff with. She was sold, that is, Ipanema was. In early 2020 the deal became official.

Under Seth, Ipanema has remained a vegan and vegetarian restaurant. While he hopes to bring more events like trivia and live music to the space when it’s safe to do so, he wants to make sure that the restaurant remains an iconic Richmond staple.

“Nathan didn’t just sell it the way he wanted to, he sold it the way we asked him to. He really listened and that’s important.”

 

 

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My TOP 5 Favorite Projects [VIDEO]

My TOP 5 Favorite Projects:

Hey RICHMOND!!!Do you love supporting LOCAL businesses and organizations?That's what I love MOST about my job. I’ve been in the commercial real estate and brokerage world for over 15 years. I get to help local businesses and organizations find a place to call home right here in Richmond. In fact, here are my TOP 5 Favorite Projects:#1) Flooring RVA.We helped find them a new showroom with more space AND we were able to help find a tenant to replace their previous lease so they could make a clean break.#2) The Summit (Scott’s Addition area).Such a great, action packed area of town where we were able to help long time friends sell two different properties at the same time.#3) Nomad Deli & Catering Company.Anthony and his family are proof that the American Dream is alive. They started this family owned business as tenants, but eventually bought their building and have continued a successful (and delicious) restaurant!#4) LUX ChurchThis is a great community minded organization that brought life back into a building that was over 130 years old and an area landmark.#5) Liberty Public HouseWhen Alexa told us about her dream concept of a restaurant inside a renovated, historical building, we knew we had just the right property for her! In fact, she moved all the way back to Richmond from the west coast to fulfill her dream of being a restaurant owner.

Posted by Sperity Real Estate Ventures on Tuesday, June 30, 2020

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A New Lease By The Slice

When Elaine Odell realized Tricycle Gardens would not be renewing their lease at her 2314 Jefferson Avenue property, she knew exactly who to call. Nathan Hughes helped her with their original lease in 2012 when he was a partner at Bandazian & Hughes, and he had to be the one to help her again.

“He has the ability to structure a lease that works for everybody — he has wonderful patience. It’s one of the most wonderful things about working with him. He’s patient, he listens to everybody, he’s a really good facilitator in terms of helping people to come to an agreement, to get each party what they need.”

Pizza Bones, more widely understood as the crust you leave behind after devouring a slice of pizza, is Elaine’s newest tenant. Founder Ashley Patino was hanging out with friends in college when she heard this phrase, and she had kept it in her back pocket ever since.

Starting her culinary career at Lamplighter Coffee Roasters, she made her way into the kitchen and then to an internship and eventual position at Sub Rosa Bakery in Church Hill before spending some time in California. Upon her return, she had her plan.

As a property owner, bringing a restaurant into the space felt much more complicated and intimidating to Elaine. “I’m glad Nathan has the experience with restaurants that he does, because I don’t. There are different things you have to be aware of and expenses to pay for and it was great to have someone with his experience help me through that process. He has that devil in the detail stuff only an industry insider knows.”

Ashley has big plans for Pizza Bones. “I want it to be more than just a pizza place, I want it to be a community space.” She hopes to utilize the space for community gatherings, especially the outdoor area.

Ashley’s plan fell in line with the other Jefferson Avenue businesses. “We are working hard to create a place for the community to be, to spend their leisure time, time to gather with friends and family and enjoy a meal,” says Elaine. “That’s why this business makes a lot of sense.”

Union Hill and Church Hill are home to many young families, with toddlers and school aged children. Parents need places where they can have a meal and bring their kids, and feel comfortable doing so. At Pizza Bones, they will see a menu that appeals to a spectrum of family members in an environment that feels good.

Jefferson Avenue is grassroots and organic. You won’t find any chains or franchises here, home to several iconic Richmond spots, such as Union Market, Sub Rosa Bakery, and The Roosevelt to name a few. North End Juice Co. is slated to open a spot in the following months, as well as Elaine’s newest tenant, Pizza Bones.

 

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From Stitches to Riches

TSI Promotionals may have a history that starts with printing services, but when owner Doug Mays took over, the company expanded into new product lines and grew its profits five-fold.
What’s the secret sauce? According to Doug, it’s diversifying products and services for changing times. As a byproduct of that success, Sperity recently helped him secure a new space.
Doug took over Superior Printing after his father-in-law passed in 2011. With an original focus on print materials and stationary, he saw the need for change and potential for growth. In 2015, he purchased Timeless Stitches, Inc. (that’s TSI for short) and expanded services to include embroidery and screen printing.
Today, TSI Promotionals is a one-stop shop for branded products with all design, printing, and embroidering or screen printing completed in house — nothing is outsourced. They help businesses better market their services though decorated apparel and design and also partner with schools to produce spirit wear and athletic gear. From large corporations that already have a logo, to small startups, who come in with just an idea, TSI Promotionals provides a crucial resource for marketing businesses.
With Sperity’s help, the company recently purchased a building to expand its production capabilities. Originally leasing retail space, TSI Promotionals had to cram bulky equipment into its showroom. Now, with a proper production facility dedicated to equipment, the showroom feels like a retail space where clients can check out products in person. The new space also brings the ability to fulfill larger orders and provide faster turnaround.
Doug is also pleased with the warehouse’s new location. Before, he had occasional walk-in customers, but they tended to be much smaller orders. Now in an industrial park, many of his clients are nearby. “We are much more accessible,” Doug said. The move brings them closer to current clients including Hanover County Schools which uses TSI for its athletic and spiritwear.
We brought several buildings to TSI’s attention, but didn’t rest until we turned over every stone and found the perfect spot. With our methods in finding commercial space, Doug felt confident that Sperity had his best interests at heart.
We tackled another challenge and secured a new tenant to take over the long-term lease on Doug’s previous space. Sperity also secured an extension for his new building’s current tenant to give Doug peace of mind and income to apply towards his mortgage.
“Instead of finding a big ticket location, Sperity listened to my needs and found what I was looking for. I was never waiting on them for anything. They handled both parts of the transaction, which was incredible,” Doug said. “I was able to sit back and let them run with it.”
Doug sees the future of screen printing and embroidery as fast growing, with more companies moving to casual wear and logo apparel and away from suits and ties.
With the new workspace and an increase in production, TSI has a bright future ahead.
Learn more about TSI Promotionals on their website

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What Your Real Estate Website Needs to Be More Effective in Gaining Customers

These days, businesses simply can’t survive without a website. The internet is the first place a customer looks when they are looking to work with a business. With every business building a webpage, it can be hard to stand out. In order to get attention, you need to focus on your niche. If you run a real estate company, there are a few industry specific aspects of your website that deserve special attention. The following advice will help you focus your efforts so that customers are impressed when they view your page.

Add Quality Videos and Photos

There is absolutely no excuse for a pixelated image on your website. Pixelated photos and videos don’t allow customers to see the quality of the property. Instead, they get the impression that you don’t take pride in your work. On the other hand, HD photos and video show that you do high quality work. Video courses are a powerful type of lead magnet to include on your website. Quality video with nice music can help a customer build an emotional connection to the properties on display. It can be expensive to hire a quality photographer, but the returns are worth it.

Virtual Tours

The last thing you want to do to a customer is drag them through tours of properties that don’t catch their interest. This tires the customer, destroys their enthusiasm, and strains your relationship. You can avoid this with a virtual tour. With the emergence of 360-degree cameras, many real estate companies are starting to put together virtual tours of the properties that they sell and lease. This allows customers to get a better idea of what properties they want to visit in person. If a customer sees that you offer virtual tours, they will be much more interested in working with you, than a company that only shows pictures.

Engaging Content

In order to increase customer traffic to your website, you need to appear more in online searches. One of the best ways to do that is through content creation like a blog. Having a regularly updated blog will move you up in search engine algorithms. Having quality blog posts will create a good impression with your customers. It is a great way for you to show them your industry knowledge.

Working in real estate is a rewarding business. You are helping people find their dream space. You want to make sure that your hard work is paying off. By updating your website and following the above advice, you will see an increase in customers that trust in your ability to get the job done.

Looking for a new, bigger business location? We can help.

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Why work with a CBI?

From the IBBA’s website: “A Certified Business Intermediary (CBI) is an experienced business broker who is committed to the highest level of professional development the industry has to offer and has ethical values aligned with the IBBA standards of professionalism. A CBI has the ability to objectively guide clients through the intricacies of the entire marketing and negotiation process of a business sale, resulting in successful transactions and satisfied clients.

A CBI offers the most experienced professional representation available during the process of selling or buying a business. Along with having undergone a specialized initial program of detailed training, a CBI is required to earn continuing education credits to maintain the credential.

When you want to work with the best intermediary to buy or sell a business, look for the CBI designation.”

 

cbi certified business intermediary

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3 Commercial Real Estate Red Flags You Should Keep an Eye Out For

When a person decides to purchase or lease a new commercial property, it can be one of the most expensive investments they will make for their business. This is why it is so important to make sure that you are getting what you pay for. Unfortunately, one of the pitfalls of being a new buyer is not being able to see some of the most common red flags. The following list includes three commercial real estate red flags you should always keep an eye out for.

Problematic Areas

Most of the time, red flags within a commercial property will be in the details. These problematic areas can seem okay at a glance but can actually be at the brink of disrepair. An issue that will come up a lot is amateur repairs or additions to the property. Some businesses do not want to pay thousands of dollars in repairs and thus will attempt to cheaply repair certain areas. Although some jobs might be satisfactory, you should always ask for work permits and city inspection documents to have concrete evidence that everything is up and running correctly.

Major Damage

Although you should focus on the details, there are major areas that cannot be ignored. One of the most important ones of these includes the roof. Roof damage can do considerable damage to your business if you are planning to store products within your commercial property. An additional red flag you might run into is the seller attempting to fix the roof in order to close the deal. While roof repair can help, it can’t fix everything. Once water penetrates the building, a broken roof might be the least of your problems. Water can run down walls and destroy pipes and create dangerous mold.

Maintenance Agreement

Before you sign on the dotted line, you should always make sure to ask about who is liable for regular maintenance. If the contract places you as the responsible party to repair issues within areas such as the HVAC systems or plumbing, you might want to renegotiate your contract. This attempt to place this workload and cost on you can be seen as a red flag.

Purchasing a commercial real estate property can be quite an expensive endeavor, and thus it’s important to protect your investment. Apply the information above to help you look out for common red flags.

Looking for great business properties? Browse opportunities here!

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The Seven Hills of Richmond

Like Rome, Richmond, VA is a city that was built on seven hills. With all of the hills in Richmond, you may be wondering what are the “official” seven, where are they located and what makes these neighborhoods a great place to live in or own a business?

According to a 1937 ordinance by the City of Richmond, the seven official hills of RVA are:

  • Union Hill
  • Council Chamber Hill
  • French Garden Hill
  • Navy Hill
  • Gambles Hill
  • Shockoe Hill
  • Church  Hill

     Click on the map for an interactive view of the Seven Hills of Richmond

Here at RVAbusiness, we are going to explore Richmond’s neighborhoods, the “Seven Hills” and uncover what each neighborhood has to offer.  Stay tuned for more about the Seven Hills!

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Guide to Social Advertising

There is a lot of information out there about social media and how to use it to promote your business. I read a lot of write-ups on that and enjoy learning about social media — as you can tell with my involvement as a Founding Board Member of Social Media Club of Richmond/SMCRVA (website Twitter Facebook page).

Since the focus of this blog is not primarily social media, I try to keep that talk to a minimum. Once in a while I come across something that I just can’t help but share. This guide* from Eloqua struck me as particularly useful and to-the-point:

[slideshare id=8838937&doc=eloquagrandeguidetosocialadvertising-110812150816-phpapp02&type=d]

Speaking of social media and SMCRVA, be sure to check out this month’s SMCRVA event where you can meet and greet Richmond’s best connected social media folks and hear our esteemed speaker, Amber Naslund:

On Thursday, August 18, SMCRVA is giving Richmonders a unique opportunity to listen and learn from Amber Naslund (@ambercadabra), world class social media pro, blogger, VP of Social Strategy for Radian6 and co-author of “The NOW Revolution”.

Be one of the first 180 to buy a ticket and receive a free copy of Amber’s new book, thanks to The Hodges Partnership and Hodges Digital Strategies.

Buy tickets here (and quickly, so that you can be sure to have a copy of Amber’s book waiting for you at check-in!)

*Funny coincidence, I first saw this guide because of a tweet from Amber’s co-author, Jay Baer. See? Everything comes full circle.

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Tips on leasing commercial space

If you’re looking for commercial space for your business, or think that you might ever be looking — read this article from Entrepreneur Magazine, “How to Negotiate a Lease“. It has lots of great information on what to expect and how the process works for finding a commercial space to lease. [please ignore all of the obnoxious advertising that Entrepreneur Magazine is so horrible about, the article is worth suffering through the ads]

Be educated about the process and do your homework, but don’t let your ego get in the way and think that you can do this on your own. As the article mentions, be sure to use a commercial broker to find and negotiate the space with you, and use an attorney to review the lease documents.

There are things that you won’t know that you’re missing, no matter how savvy of a tenant you are — and those things that you missed will become painfully obvious the moment you reference your lease regarding a contentious issue 2 years from now, or the moment you hear about the space that wasn’t officially “on the market” but was half the price and better positioned than the space you chose.

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How is the market?

It's a question that I hear all of the time, and there are all sorts of answers and variations of answers that I give.  A lot of it depends on how the last phone call went, or how the week has been.  Overall, the economy sucks, we all know that…on the other hand, we are very fortunate here in Richmond, Virginia, to be in a rather muted version of the poor economy that is hitting everyone.

The real answer is: sure, it's tough, but when is it ever easy in the land of commercial real estate — and especially in business brokerage?  All that we can do is make things happen in our sphere of influence, and keep both eyes open for great matches to be made between buyers/sellers and lessees/lessors.

There is a lot of talk in the commercial real estate community of either the owners not being reasonable about the current market conditions, or the prospective tenants/buyers looking for "too good" of a deal.  A more accurate depiction of current market situation was outlined out very well in an article in this morning's Richmond Times-Dispatch's Metro Business section by Andrew Little (with John B. Levy & Co. here in RVA):

Buyers, like lenders, are nervous and
skittish and not able to get a feel for what the long run looks like.
Sales brokers across the country report large institutional sellers
making strategic decisions to prune their portfolios or exit a market
at fire-sale prices, only to find their lowered price expectations are
not met.

In Richmond, long-term owners are wading into the market in hopes of
shedding a piece of their portfolio at a price that only a year ago
would have seemed unimaginably low. While it will be up to the buyers
to determine if the sale prices are reasonable, getting buyers off the
fence is difficult today. It seems as if all buyers are waiting for
some longer-term sign to emerge that could help them make an investment
decision.

It's not exactly a solution to our ills, but at least it might help anyone that wants to know "How is the market doing?"

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New CSA in Richmond (that means fresh local produce, folks!)

For any of you that have been interested in getting involved with a CSA (Community Supported Agriculture), you may have had a similar experience as I have had — I got put on a waiting list.  Now this is not a complaint, but a testament to the rising popularity of local food and fresh produce.  These groups fill up fast, so I'm proud to bring to your attention a brand new CSA that was just announced yesterday!

Russell Bell is a local farmer that you may have seen at any of the farmer's markets around town: 17th Street Market, Lakeside Market, Byrd House Market, or South of the James.  I know that I see his name in the paper whenever the local farmer's markets are covered so you may have seen him there, as well. (The farmer's markets are still very popular and becoming more so all the time, by the way — echoes of a post from 2007.)

For the description of what a CSA is, and how his will operate, I will turn the floor over to him:

>>>
Howdy all!

I am offering shares in a micro-CSA this year. A few of you helped last
year with my CSA experiments. Thank you to all who did. There will be a
total of 20 full shares, 40 half shares, or some balance of the two
available this year. You will be able to pick up your shares from the
Lakeside Market (Wed.), Byrd House Market (Tues.), or maybe South of
the James (Sat). If none of these locations are convenient for the
majority of shareholders, another location may become available.

Community Supported Agriculture works a lot like buying bonds in a
company. You buy in at the beginning of the season and receive
dividends, or produce shares, throughout the season. The first shares
this year will be available starting in mid-April and continue weekly
through mid-November. Each week your shares will consist of the CURRENT
IN SEASON PRODUCE for market, as well as some limited or specialty
items that were not produced / picked in large enough quantity for
market sales. "In season" means there will not be tomatoes in April,
arugula in July, or blackberries in November. Some produce has a very
long season. You may be tired of a vegetable before the season ends. I
will be offering tips on preservation, and if there is enough interest
a canning party is always a ball.

Examples of this year's produce:

Early Spring—-
arugula mix
spinach mix
broccoli rabe
radishes
herbs

Early Summer—
squash (3 kinds of zucchini)
tomatoes (possibly by June 1)
peppers
eggplant
corn possibly (CSA only)
herbs

Mid Summer—
cucumbers
melons
squash (3 kinds of zucchini)
tomatoes
peppers
eggplant
herbs
beans

Late Summer—
tomatoes
peppers
eggplant
okra
herbs
beans

Fall—
winter squash
tomatoes
peppers
eggplant
okra
herbs
collards
kale
beans

THE TOMATO QUESTION
We largely will be having a black and white tomato garden this year with hints of yellow, pink, and red.

Great White is a low-acid white beefsteak that is soft, delicate, meaty, and juicy.Tomatoes

Black Triffle is an earthy black ox heart with amazing flavor and succulent thick hunks of meat. Zapotec pleated is a pretty pink slicer. Great stuffed with beans and rice, orzo and squash.  Black Plum is my all time favorite sauce tomato. Perfect in my Eggplant Parm recipe.  Yellow pear is a low-acid crowd pleaser. Perfect in a salad, on a kabob, or by the handful as you drive.  Sub-arctic plenty is an early producer that we are hoping to have for early June pleasure.

COSTS AND DEADLINES
Whole shares = 500.00
Half shares = 250.00
50% due February 20th
50% due March 20th
No refunds after April 1st

The majority of produce will be grown in Louisa county.
Feel free to tell friends.
Please post any questions.
This is micro in comparison to the more standard 200+ share CSA

>>>

In order to contact Russell directly (and to sign up!), email him at farmerrussell@gmail.com.  I've already signed up so that I don't miss out on this opportunity!

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Big event this weekend

The event started today and lasts all weekend and has one of the largest draws of any event throughout the year in Richmond.  It is free to attend, and with the weather being so amazing, you can't lose this weekend if you take some time down in the Browns Island/American Civil War Center/Tredegar Iron Works area.

More than 175,000 people attended the National Folk Festival last year, breaking the record of the festival's 69 year history.  This year the National Folk Festival has moved on to the next city, but Venture Richmond is carrying on the tradition here in the River City.

The hours of the festival are:

Friday, October 10 6PM-10:30PM 
Saturday, October 11 Noon-10:30PM 
Sunday, October 12 Noon-7PM

For the full information, including schedule of performers, visit the festival's website here.

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How to get over the “end of a holiday weekend blues”

Tomorrow marks the first day of the work week for many of us, and it's always a little difficult to get back into the swing of things after a long, holiday weekend — especially one that's been marked with such beautiful weather as this weekend was!

Well don't get too down.  This upcoming weekend may not be three days, but the Greek Festival is back in full force this year!  The 32nd Annual Greek Festival is being held from Thursday through Sunday, 5/29/08-6/1/08, at the Greek Orthodox Cathedral at the corner of Malvern and Grove Avenues.

Each year the festival attracts approximately 30,000 attendees and the festivities were muted last year due to construction work going on at the church.  Only drive-through/pick-up service was offered.  Ask any Richmonder you know — this is one of THE events of the season, and you will absolutely run into any number of people you know while at the festival.

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So you think you know Richmond? (Round 2)

There are a few things going on over at the Valentine Richmond History Center that deserve your attention for a variety of reasons.  It's an exciting time at the museum, with a new exhibit, a new online quiz, and nominations for an annual award starting soon!

IKnowRichmond.com

The original impetus for this post was a follow up on a post from last year about the first "I Know Richmond" online quiz.  I did a little better on this new quiz than I did last year, which is not saying much.  It's interesting to see what I can answer correctly, and get a quick insight into some parts of Richmond history that I do not know as well.

The new quiz can be found at www.iknowrichmond.com, and this year it is about Richmond during the 1950s, 1960s, and 1970s.

Battle for the City: the Politics of Race 1950s-1970s

This is a new exhibit that opened during the latest First Fridays Artwalk, and ties directly into the "I Know Richmond" quiz.  The focus of the exhibit is on the volatile times of the 1950s-1970s with "citywide conflicts over integration, civil rights, urban planning, transportation, and political representation."

All of us are familiar with images from the era of the civil rights movement, with sit-ins and the integration of the school systems, but it was very interesting to see the same general themes with Richmond City as the backdrop.  It's one thing to see photos from other areas, but the local connection of familiar monuments in the background really brings it home.

2008 Richmond History Makers

Nominations will be accepted from May 1 through June 29 for this year's Richmond History Makers awards, which will be presented at a big event scheduled for October 21, 2008.  The site describes the qualifications as:

… those who are benefiting
our community by mentoring best practices, leading successful initiatives
and contributing positively through innovative methods […] for five categories
of distinction:


Creating Quality Educational Opportunities

Demonstrating Innovative Solutions

Fostering Regional Cooperation

Improving Racial Equality and Social Justice

Promoting Stronger Communities

So, whether you're looking to get involved and make some nominations, or looking to become a bit more educated about Richmond's history during a volatile period, or just looking for a bit of fun with a quick test of knowledge, it's all going on right now!

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Richmond, VA — The model city

We must be doing something right here in Richmond!  The Baton Rouge Area Chamber of Commerce has selected Richmond as a model city for study.

BATON ROUGE, La. (February 7, 2008) – The East Baton
Rouge (EBR) City-Parish and the Baton Rouge Area Chamber (BRAC)
announced today that Richmond, Virginia has been selected as the
destination for the 2008 Canvas Workshop. A delegation of business and
community leaders will spend three days and two nights in the Richmond
area to learn from a community that has had recent success in such
areas as regional economic development, transportation, higher
education/research and development, downtown revitalization, and public
education. Trips similar to the Canvas Workshop series are taken by
many groups around the country as a tool for gaining insights and
sparking new ideas for their communities.  (per a press release from the Baton Rouge Area Chamber of Commerce)

Thanks to richyb83 from UrbanPlanet.org for the heads-up!

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Richmond Braves moving to Atlanta — or is it just another rumor?

Braveslogo
We’re all aware of the arguments that have popped up over the past couple of years about the state of repairs at the Diamond, where the Class AAA Richmond Braves baseball team play on the Boulevard here in Richmond.  The team is demanding that Richmond either restores the Diamond, or build them a brand-new stadium — or, they will move.

There has been a lot of back and forth about a baseball stadium in Shockoe Bottom (nixed after extensive discussions), about alternate placements of a new stadium (maybe right beside the current stadium), and about renovating the current stadium.  Nothing has been settled, and it seems as though the Braves are planning to force the city to make a decision by recent stirrings in Atlanta.

I hadn’t heard anything recently about the issue until I received an email from Jeff Hullinger with WSB Radio in Atlanta asking how I thought the Braves’ move to Atlanta would impact local business here in Richmond.  My reaction was to find out if there was some breaking news about it.  I didn’t find anything locally (however, I’m sure there will be some stories popping up momentarily, even if they haven’t while I’m writing this posting).  The news is all over Atlanta, though.  (Oh, and if you’re in Atlanta, listen for me on the show!)

The Atlanta Journal-Constitution announced today that the Richmond Braves will move to Gwinnett County, Georgia, a suburb north of Atlanta.  Per their article "Richmond Braves Coming to Gwinnett"

The announcement on the move "will be coming in the foreseeable future," an official for the Gwinnett County Convention and Visitors Bureau said Monday. Lisa Anders, marketing manager for the visitor’s bureau,  declined to elaborate on what the announcement would entail [or] when it would be made…

The question is whether this is all just huffing-and-puffing by the Braves to force the city to make a decision finally?  It would be a shame to lose them, with such great ideas on the table about renovating the property around the Diamond and all of the redevelopment happening now on the Boulevard.

On the other hand, sometimes we need big changes to shake things up a bit and make us think more creatively.  I bet even if they do move, while Richmond will miss the Braves, we will use the opportunity to do something even better with the stadium.

What do you think about the possibility of the move?  What do you think we would do with the Diamond and surrounding land if they do move?

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When will the 25 million person shortage of employees hit? (4th in a 4-part series)

As pointed out by Michael Daniels, of SAIC and  Network Solutions Inc., during the panel discussion at the Virginia Conference on Economic Leadership, we will soon be facing a shortage of 25 million workers nationwide.  The first of the baby boomer generation is about to hit retirement age, and the number of coming-of-age workers will not cover the retiring workers by any means.  Thus, we are left with 25 million jobs vacant.

Out of any of the other proclamations at the conference, this one stood out the most to me.  I found this most alarming because the rest of the conference was focussed on how we are preparing for the future through education.  If the people aren’t there to be trained, then it seems to me that all the training in the world won’t make up the difference.

Some of the other attendees eased my mind by sharing some of their experience, which resonated with some of my own observations over the past few years.  The most important observation is that just because a large part of the population will become eligible for retirement doesn’t mean that they will all just up and retire right away.  That gives us time to find solutions to ease the transition.

Not only will the entire baby boomer demographic not retire simultaneously, but more and more people are working longer — either in their current occupation or taking the opportunity to start a second career.

There are three key components to filling the gap here in Virginia:

  1. Use official graduated retirement plans in your business.  Rather than counting on your experienced workers to continue working, give them incentives to do so.
  2. Immigration, either domestic or foreign.  It’s a dirty word to a lot of people,  but it is the lifeblood of the country, and must be addressed.  We can’t close our borders entirely, and by the looks of things doing so would strangle our economy — even just from the perspective of this one issue.  We need to encourage the immigration of highly skilled labor, whether it from other countries or from other states.
  3. Retention of graduates from our state universities is another key issue.  We have some of the best schools in the country, and we train a lot of graduates that end up going back to their home states or get lured away for good-paying jobs in other areas.  We need to up the ante and figure out how to keep these graduates in Virginia.

It was an alarming statistic, but after some reflection and discussion, it sounds as though it is not nearly as catastrophic as it first sounded — as long as we approach it with some forethought.  Now is the time to discuss it, not when we are in the middle of a huge labor shortage.

I am interested to hear any observations that any of you may have
either about how you have seen this issue handled, or how you are
planning to handle it in your own business.

See also:  What’s the plan for VA’s economic development? (1st in a 4-part series)
See also:  Northrop Grumman speaks on workforce development (2nd in a 4-part series)
See also:  Northrop Grumman speaks on workforce development (3rd in a 4-part series)

 

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Now that’s the way to bring in the New Year!

Richmonders have always had plenty of options when it came to ringing in the New Year, and this year was no different….well, actually it was different for about 15,000 people.

This was the second year that Carytown put on what seems to be shaping up to be the new New Year’s Eve tradition for Richmond.  Given the results of the event this time, I don’t think there is any fear of the event going the way of <take your pick of any number of failed ventures — my choice for this slot was Sixth Street Marketplace>. 

December 31, 2006, saw the founding of the Carytown New Year’s Eve event, and it brought in a respectable number of people, somewhere between 5,000-8,500.  Even that seemed crowded, from the reports that I heard from friends that attended last year.

Take a look at the RTD coverage of the event from yesterday’s paper, and from today’s paper.  It’s worth a look online, even if you’ve already seen the print version of the stories.  The online version has a slideshow of pictures and a video (but you have to dig a little once you get to the site) with some ambient sound recorded at the event.

One of my favorite quotes from today’s RTD article:  "Michael Pace, owner of the Galaxy Diner, said he probably rang up more
in sales on New Year’s Eve than on any other day in his six years in
business."  Wow.

As with anything, the event has its detractors, and they raise reasonable complaints about a variety of issues surrounding the crowd that the event inevitably draws.  The question the nearby residents have to consider is:  Would you prefer that everyone left Carytown alone to dry up, or are you going to support events that draw lots of paying customers to support the small businesses that we all love so much?  You have to take the good with the bad, and learn lessons to improve on the experience for each following year.

Whatever you did to bring in the New Year, I hope that you had a wonderful night and a speedy recovery the next day.  Now get back to work!  🙂

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The State of Virginia speaks on education (3rd in a 4-part series)

Another key speaker at the Virginia Conference on Economic Leadership was Dr. Thomas R. Morris, Secretary of Education for the Commonwealth of Virginia.  His remarks were more in-depth than most political rhetoric that you hear about reforming our schools.

In fact, Dr. Morris cautioned the audience that reform was not the issue.  Instead of reform, we should focus on raising expectations.  He mentioned that there are two levels of diplomas that a high school student in Virginia can earn, standard or advanced studies.  Dr. Morris suggested that we should push to have a higher percentage of students striving for the advanced studies diploma, rather than setting their goals at "just" finishing high school.

Even beyond the advanced studies high school diploma, the next step is to move a higher number of students into the secondary education system and into industry certification programs.

Falling in line with his boss, VA Governor Timothy Kaine, Dr. Morris endorsed pre-K education as a way to set children up as being "ready to learn" when they start kindergarten.  Of course, not everyone agrees with that logic…

The overall feel of the talk, though, was one of a fresh look at the approach we usually take on education "reform", and why we need to change our perspective.  Otherwise, we will change for the sake of change, rather than actually moving forward.

See also:  What’s the plan for VA’s economic development? (1st in a 4-part series)
See also:  Northrop Grumman speaks on workforce development (2nd in a 4-part series)

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Northrop Grumman speaks on workforce development (2nd in a 4-part series)

At the Virginia Conference on Economic Leadership, William Ermatinger,
VP of Human Resources and Administration for Northrop Grumman in
Newport News, spoke to a rapt audience regarding "What It Takes to
Build A Globally Competitive Workforce in the 21st Century".  Given his
position at Northrop Grumman, he was able to speak with authority
regarding the high-skilled employee workforce in Virginia.

Per Northrop Grumman’s website, here is a quick blurb on the company:

Northrop Grumman Newport News, headquartered in Newport News Va., is the nation’s sole designer, builder, and refueler of nuclear-powered aircraft carriers and one of only two companies capable of designing and building nuclear powered submarines. Newport News also provides after-market services for a wide array of naval and commercial vessels. The Newport News sector employs more than 21,000 people.

Unfortunately,
I didn’t jot down the stats on their employee base, but he had some
outstanding figures on how many people they employ here in Virginia,
how highly specialized and highly skilled (i.e., nuclear welders) that
workforce needs to be, and how many have to be replaced each year.

In my mind, Mr. Ermatinger’s remarks could be boiled down to three major points that I would like to highlight here:

  1. Education development and reform should be handled with an eye
    towards global competitiveness  and following an all-encompassing
    approach, rather than merely K-12 reform.
  2. The private sector should contribute more to the educational
    systems, with the mindset of it being an investment in their business.
    The old mindset has been that donations are given out of goodwill, but
    we need to realize that it is not a charity cause but a real driver of
    economic development.
  3. For contributions to education, the private sector needs to not
    only donate money, but also time, talent, and expertise.  Money is
    necessary, of course, but there are other needs that in some ways are
    even more important.

Northrop Grumman shows their commitment to these ideas not only in
words, but also in the programs that they have instituted to train
their current employees and their employee base.

See also:  What’s the plan for VA’s economic development? (1st in a 4-part series)

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What’s the plan for VA’s economic development? (1st in a 4-part series)

Thursday, December 11, the Virginia Conference on Economic Leadership was held at The Jefferson Hotel here in Richmond, hosted by the Virginia Chamber of Commerce (VCC) and the Virginia Economic Developers Association (VEDA).  The focus of the conference was "Virginia’s Workforce Development Capability:  Can We Do Better?".

I was fortunate to be able to attend, so I took the opportunity to soak in the information being presented, and bounce some of my questions off of the other attendees.  A lot of interesting points were made, and I’ll report what I thought were some of the more salient issues raised.

There were a few common threads that arose throughout the day:

  • a key piece of workforce development in Virginia is the community college system
  • the need to organize the numerous workforce development programs and the agencies overseeing those programs (see the RTD article "Rolls-Royce plant deal gave state an education" for a thorough explanation of that topic)
  • there is a disconnect between "concept and context" in education — educators lack real world experience and expertise, so business leaders need to become more involved in a variety of ways (look for more about this in the 2nd part of this series)

Representatives of the community college system that I spoke with were kind enough to explain the difference between workforce education and other education.  The example that was given to me was this:  Say someone wants to take a Spanish class, they could take a class for college credit, or they could take a shorter, more focussed course like "Spanish for Use in Business Situations".  The for-credit course is traditional education, and the non-credit course is considered workforce development.

Now this isn’t to say that workforce education was presented as the end-all to preparing for the future, but it is an important part.  Of course, the primary and secondary school systems need to be enhanced.  (look for more about this in the 3rd part of this series)

This is the first of a series of four posts regarding the Conference on Economic Leadership that I will post over the next few days.

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9 Free things to do this Sunday

Courtendxmas_2
Every year the museums at Court End, the area around the court buildings and City Hall, band together to give Richmond a gift for the holidays.  This Sunday from 12:00-5:00pm is the 21st Annual Court End Christmas, when everyone is invited for FREE admission and transportation to 9 historic sites:

There is a lot going on — music, cider, carriage rides.  For all of the details take a look at the official page for the event.

I have been able to attend the event for the past couple of years, and it’s always nice to see the bustle of families enjoying the historic sites and the Christmas atmosphere, especially with the period costumes and all of the decorations.  Enjoy!

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Comments on The Crupi Report

I just finished reading The Crupi Report, and there is quite a bit that I agree with…and some that I don’t.  Instead of taking this post to get into the individual points that I am for or against, I wanted to share my most immediate gut criticisms of the report:

  1. What was up with the misspellings?  I noticed a handful sprinkled throughout the report (and I wasn’t looking for them) — "lose" was mispelled a couple of times, i.e.
  2. What is the "medium of house prices"?  I assume Dr. Crupi meant "median", but I can’t be sure.  Maybe he meant average?  Who knows…
  3. There was a quote from "A black leader" that said "I drank from the back of the bus, but it doesn’t define my life."  I get the meaning and appreciate it.  But, am I missing some piece of historical reference here or is that a mixed reference — i.e., sitting at the back of the bus and having to drink at a different water fountain?  Given the other mistakes in the report, I don’t know whether that is a misquote or the actual words he/she used.  Either way, it’s  wouldn’t have used it in the report as-is.

My point is not to be nit-picky, but come on, these are pretty simple mistakes to catch and correct.  Why undermine your credibility by letting them slip through?  I certainly don’t think that my writing is perfect, but I’m not getting paid to produce reports that are going to be read by an entire region.

Getting past the simple mistakes, I enjoyed the overall theme of urging cooperation and overarching vision as necessary for the strategic growth of the entire region.

One of my favorite quotes from the report was:  "It is ironic that while people in the counties recognize that the city can influence it with negative pollitical and economic images, they under-appreciate the benefits of what would happen if those same images were positive."

I am anticipating a great future for the Richmond-metro area, and I think that this report was a great way to generate interest and involvement by the general populace.

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How to influence the future of Richmond

There aren’t many times in a region’s development where the leaders sincerely ask for guidance and input from the general populace.  Granted, this has been an initiative organized by a group of local business leaders and headed up by the Greater Richmond Chamber of Commerce, but it is getting a lot of attention from the general population and recognition by the local governments.

If you are watching for the report delivered last Monday to be mentioned in the local news or blogs, it has been referred to as "The Crupi Report".  Dr. James Crupi was brought in "to re-examine the
greater Richmond area and make recommendations that would enhance its
future development and competitive position." — (see the article about the report on Richmond.com, or another article here from RTD)

I still need to sit down and read the report for the details, and I am hoping that the majority of people in the region do the same thing.  For your own You can find the report over at the GRCC‘s website by clicking here.  Over the next several months, those same business leaders who commissioned the report are looking for reactions from all of us.

An open forum on the subject is scheduled for Tuesday night at 7pm at the Richmond Times Dispatch’s Public Square, which will be held at their Hanover production facility.  (Click here for the announcement of the Public Square)  The address is
        8460 Times-Dispatch Blvd. Mechanicsville, VA 23116.  See you there!

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The Fan Party Patrol is BACK!

Normally, a title like that would indicate some sort of pub crawl, or party bus, or something fun like that.  This time it is a follow up on "‘Party Houses’ in the Fan", a posting from this blog dated 9/13/06, that highlighted the Fan District Association’s self-appointed mission to monitor the public nuisance from private parties in the Fan.

The FDA’s website has announced that the Party Patrol is back, although I’m not really sure where it went in the first place…  I know that I consistently get hits from web searches looking for information on the Party Patrol, even though the blog I posted was over a year ago.  So, I thought it was time for an update.

To start with, you should probably visit the FDA’s official history and background of the Party Patrol.

Here is the announcement from the FDA website (minus the contact #’s…you can get those from their website):

The Fan District Party Patrol is Back

         

The Fan District Party Patrol returns, effective immediately.
            The patrol is a joint sponsorship by the FDA, City of Richmond and Virginia Commonwealth University.
              The patrol’s goals are to help reduce both under age drinking and binge drinking.
              One of the by products of the patrol is to increase the probability for a good nights sleep
              for both home owners and renters
              in the Fan District.
              The patrol will be running Friday and Saturday nights and other nights during the week.

There is also the matter of the "Fan Party Map".  Notice any favorite haunts there?  (I’m way out of the college party scene, so I don’t expect that I would recognize any of the addresses.)

Again, I’m not really sure if this "Party Patrol" and the ensuing map is a good idea or a bad idea.  I’m not here to discount the efforts of concerned citizens, but it does raise some questions.  (yes, the same questions I had before — because I haven’t seen any truly insightful answers as of yet) 

*Once a property is listed, is there a procedure for getting a property removed from the list once there is no more problem — or does it stay on the list forever? 
*How
will this list stigmatize an area?  (i.e., if I am a property owner a
half a block removed from a heavily "infested" area, how will this public info affect my property
value?)

It is telling, however, that all of the chatter I’ve seen online about
the Party Patrol over the past year has been negative, or at least
mocking.  I would be interested to see what effects it has had, good
and bad.

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VA Beats France as a Wine Destination?

It did if you believe this article from last week in the RTD — or more precisely, if you interpret the article the same way I did when I first saw it.

The way it reads:

Virginia is one of the top-five new wine travel destinations in the
world, according to the July issue of Travel + Leisure magazine.

The other destinations are Italy, Spain, Chile and New Zealand.

When I first read it, I glossed over the word "new" in the first line.  As a fellow poster on UrbanPlanet.org pointed out (thanks, maclawsdrive!), the article was focusing on up-and-coming areas (and apparently was specifying particular areas of the above-mentioned countries).

Way to go VA!  From what I understand, Napa Valley was small-time until one of the wineries received an international award.  After that, it went nuts and developed into what you can see today.

I wonder if this will be the break-through that VA wants, and whether or not VA wants it?  I like the smaller vineyards and quaintness that comes along with it, but then again being internationally recognized as a wine region certainly wouldn’t be bad either.

Any thoughts?

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Should Service Businesses Accept Credit Cards?

You can use a card pretty much anywhere these days, but there are some professions/industries where the message hasn’t really taken hold.  It’s not that they are behind the times, but more that it’s just not common practice and most of the practicioners have not seen a reason to change.

When you’re getting paid pretty regularly by customers, the thought of accepting credit cards can seem like a real pain and just not worth the trouble (or the fees).

Small Business Trends makes a good point in a recent post as to why service professionals may want to re-evaluate their stance on this policy of not accepting credit card payments.  If you consistently have Accounts Receivable that stay out 90+ days, why not nip that in the bud?  Get an agreement up front (as part of the initial paperwork) that authorizes you to use their credit card in the case that a bill is 30 days or more outstanding.

In order to do this, however, your billing procedure and your procedure for posting payments must be very well managed.  Nothing would make me hotter than to have a bill that I didn’t authorize all of a sudden show up on my credit card.

Food for thought, though.  Sometimes the best ideas are those that make you smack your forehead when you finally have the AHA! moment.

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How does VA rate according to Forbes.com?

It was tight….who am I kidding, of course Virginia came out on top as the top-ranked state in the Forbes.com annual results.  A key point to keep in mind is that this is the second annual "The Best States For Business" article, and Virginia won last year, too!

The article is quick to point out, however, that Washington is right on our heels, and that we did not dominate the categories as we did last year.  The flip side to that is Virginia dominated the categories last year, and we still won this year!

Two key issues for going forward from here, and to capitalize on our success thus far:
1)  Washington did very well overall, and other states had high marks for their successes.  We should take the opportunity to study what they’ve done that made them successful in those areas, and see if those principles can be applied in Virginia.  Not all of those ideas can be easily transplanted, but we would be remiss to not consider what can be learned.
2)  Just like we highlighted from last year’s award from Forbes, we need to mazimize the good press from this recognition.  Let’s use it to draw in fresh blood, and to enhance the business environment.

To see what some Virginia politicians are saying about the outstanding results, see Vivian J. Page’s blog entry, "VA again Best State for Business".

Out of the 50 states, Virginia ranked as follows:
17th – Business Costs
5th   – Labor
1st   – Regulatory Environment
11th – Economic Climate
8th   – Growth Prospects
6th   – Quality of Life

Congrats, Virginia!!

(See also: RVA in Top 10 for Job Hunting from 8-11-06 & Maximizing the Good Press from 8-17-06)

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New Postal Rates

The general postal rate goes up $.02 effective Monday, May 14, 2007 (from $.39 to $.41).  But…it’s not as simple as an across-the-board shift this time.

All sorts of rate changes are being put in place, such as a different scale for heavier items (a 2 oz package will cost less to mail than it did under the old system). 

Also, a size-based system is starting Monday.  I think it sounds rather difficult considering that everyone currently uses scales, rather than rulers, to gauge the cost of shipping.  I’m sure it can work, if everyone gets on board, but I also expect there will be a lot of mailings that are returned for lack of enough postage in the early part of this transition.

See the USPS’s release about their new rate schedules here.

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So you think you know Richmond?

If you think you know about Richmond and its history, then here is a test for you.  The Valentine Richmond History Center has put up a new website specifically for its test "I Know Richmond".

The test is dual-purpose, as you will see a short form at the end asking for input for requests and comments on what you would like to see incorporated into the History Center’s programming.

The questions seemed like things that I should know, but damned if I didn’t miss almost every single one of the answers!  Check it out, and let me know how you did.

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New Minimum Wage Rate

Last Wednesday, the US House of Representatives passed a bill raising the federal minimum wage to $7.25 over the next 26 months.

$5.15  current federal minimum wage
$5.85  60 days after the bill becomes law
$6.55  1 year after the initial hike
$7.25  2 years after the initial hike

This is the first update to the federal minimum wage in a decade, although some states have enacted their own minimum wage rates that were higher than the current federal rate.

(Source:  House votes to raise U.S. minimum wage from Nations Restaurant News)

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Rules for “One-shot Sales”

Or "Embracing the naive prospect" by Seth Godin, the marketing guru.

Seth points out some valuable insights for anyone that sells to a target market of consumers that are making a "once in a lifetime" purchase. (i.e., a DJ for a wedding, or a Realtor that deals primarily with first-time home buyers)

At first, I thought I would be pointing to this mainly for the benefit of other Realtors, obviously with the first thought coming to mind of how I deal with first-time buyers and sellers of businesses and real estate every day.  Then I realized that beyond my bubble there are industries that deal with this "naive" type of customer every day, too.

Now "naive" in this sense is not meant to put down anyone, it’s just to acknowledge the experience level of your target market. 

Wedding vendors are a great example of this — the wedding process is not something that most people end up going through enough to be experts at it (let’s hope not, at least).  It is a crazy time trying to plan it, and even if you have a wedding planner, you still had to pick that person.

Visit Seth’s site and see what he has to say about how to deal with these "naive" consumers.  I think his insight was right on track.

I would love to hear how anyone else is dealing with this issue in their own businesses.  I submit that this blog is one of the ways that I am addressing it in my business.

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All Hail the Internet

Maureen over at MIOAKLANDCOUNTY had a posting ("HELP. I CAN’T FIND YOUR AGENT!")that…well, first of all it was well written, but more importantly it addresses a very important issue: In the age of the internet, do you want to work with a realtor that has a weak internet presence?

If you can’t find any trace of your Realtor on Google, do you
think your agent has a strong plan for marketing your home on the web?

The old ways still work, but the effective present day realtor has to be in touch with the old way of marketing AND be familiar with current technology.

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IMPACT Award Winner

Congratulations to this year’s IMPACT Award winner, Intercept Youth Services!

Intercept Youth Services provides comprehensive treatment programs for
troubled adolescents age 12-19. Promoting pro-social behavior,
self-esteem, emotional stability, personal accountability and character
building through a fun environment, while teaching the life skills
necessary to become productive and responsible.

To see the official press release by the Greater Richmond Chamber of Commerce, click here:  official press release.

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GRCC IMPACT Awards tonight

Tonight marks the 139th annual Greater Richmond Chamber of Commerce‘s dinner, and the presentation of the IMPACT Award.  The award is given out each year based on "growth, innovation, response to adversity, quality of the work environment and contributions for the greater Richmond community."

You can read more about the award process at "Brace for IMPACT" on Richmond.com.

Here are this year’s finalists (quoted from the Richmond.com article, weblinks inserted by me):

  • Intercept Youth Services, a provider of comprehensive treatment programs for troubled adolescents.

  • Nelsen Family Funeral Services, one of central Virginia’s largest funeral service providers.

  • RJ Smith Construction, Inc., a diversified commercial construction company with multiple specialties.

  • SnagAJob.com, a national job search site that specializes in hourly jobs.

  • Worth Higgins & Associates, Inc., an employee-owned, sheet fed commercial printer founded in 1970.

  • Congratulations to all of the finalists!


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    The Biz of Halloween

    I just came across a post on Fast Company’s blog about theme parks embracing the Halloween season ("Halloween Be Thy Game").  This caused me to think about the business of Halloween, and not just the holiday aisle in the grocery stores or Target — more along the lines of the specialty Halloween stores and haunted houses.

    The two big theme parks in the area, Paramount’s Kings Dominion and Busch Gardens, each have converted to their Halloween-themed set-up.

    Now, I haven’t dealt with any Halloween retailers or groups that operate haunted houses, but these are both business ideas with a very limited lifespan.  They go through a great deal of expense to set up shop, and then break down after a short period of time.

    Holiday retailers and haunted houses can fill some unused capacity, even if just for a short time.  The catch is that there is an opportunity cost for the landlords in tying up their space for an extremely short-term tenant, during a time when a retailer could still set up and be ready for the Christmas rush.  Of course, a premium can be charged to the short term tenant for the priviledge of a short lease.

    For now, enjoy the season!  Here are some links to different things going on in the area:

    (EDIT 12/1/06: updated link to HauntedHouse.com)

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    2006 Golden Hammer Awards

    If you haven’t seen the Richmond Times-Dispatch this morning, pick it up.  There are quite a few good articles related to business and real estate today.

    One in particular that I want you to note is the profile on Ed Eck.  This man and his company  have done (and continue to do) a great service for Richmond in redeveloping the area just west of VCU, specifically along the West Main St and West Cary Street corridors.  (If you are struggling to identify where I mean, think of the pastel colored buildings along West Main Street, Mulligan’s, the old El Rio Grande, Gold’s Gym, etc.)

    Congratulations to Ed for winning the Andrew Asch Developer Award, from the pool of 2006 Golden Hammer Awards, from A.C.O.R.N. (Alliance to Conserve Old Richmond Neighborhoods) for "contributions to historical conservation".

    Congratulations to all of this year’s winners and nominees!

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    Maximizing the Good Press

    The RTD ran an article in today’s paper, "Virginia rated top state for business".  In said article, Chris Thurston, from RightMinds, was quoted as saying that VA should jump on this golden opportunity to capitalize on Forbes’ recent recognition of the Virginia job market and business environment.

    He makes an excellent point that not only did we achieve a high award, but that it should be used to catapult the Virginia economy ahead.  If we strike quickly with the marketing to let the key players know about our recognition, then we may draw other employers to the area.

    Richmond sure needs it, especially if we are going to fill all of these new office spaces and provide consumers for all of the hundreds of new retailers that have opened the past several months.

    Chris Thurston, president and chief executive of the RightMinds advertising agency in Richmond, said the recognition from Forbes offers "a humongous window of opportunity. You don’t get many opportunities like this when a credible source praises what you have to offer."

    He suggests the state "earmark some money to shout it out nationally, targeted to specific markets that Virginia can benefit from." And strike while the news is still fresh.

    "Make sure decision-makers hear about this over and over again. If they do, the message will stick."

    I sure hope that some of the state and local government PR decision-makers listen to his wise words.

    Richmond, and Virginia in general, is on a good upswing, and this can only help keep us on the right path.  If we play it right, it may just make it even better.

    (See also: RVA in Top 10 for Job Hunting from 8-11-06)

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    RVA in Top 10 for Job Hunting

    Congratulations, Richmond!  We have been noted as #6 on Forbes’ list of Top 10 Cities to Find a Job.

    The ranking was determined "using U.S. government data supplied by Moody’s Economy.com [for]
    the largest 100 metropolitan areas according to their unemployment
    rates, cost of living, median household income, job growth and income
    growth."

    VA Beach was ranked at #10.  Go Virginia!

    Link: The 10 best U.S. cities to find a job – Rentals – MSN Real Estate.

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    Who’s Who in Richmond

    The Power List from Style Weekly is out, and I’m wondering why I’m not on it (sarcasm).  Seriously, though, if you haven’t read it, then you need to.  Even if there are people on it that you don’t think deserve it, or vice versa, there is a lot to learn about the movers and shakers in Richmond from this list.

    I thought these stats from VCU President Eugene Trani’s entry (at #3 on the list) was particularly interesting, just from a development/re-development standpoint:

    Let us count the ways Trani influences Richmond — in concrete. The university has added more than $1.2 billion worth of new buildings and infrastructure since Trani took office in 1990. Another 40 new buildings — totaling about $1 billion — are on the way, including the new medical center and Monroe campus east of Belvidere. Protests over the university’s demolishing of historic buildings didn’t stick to Teflon Trani — just watch the preservationists react when he tears down MCV’s West Hospital.

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    Company News from the RTD

    Link: TimesDispatch.com | COMPANY NEWS.

    COMPANY NEWS

    Richmond Times-Dispatch

    Jun 5, 2006

    MERGERS/EXPANSIONS

    Mercer Staffing Inc. and Quantum Resources Corp. have become ClearPoint Resources Inc.

    RELOCATIONS

    All American Mortgage Corp. has relocated to 1415 Eastridge Road.

    CONTRACTS

    Riverside Logistics has been retained by Outdoor Kitchen Creations to provide warehousing and distribution.

    Burford Co. has been retained by the Carytown Merchants Association for marketing services.

    AWARDS

    Neathawk Dubuque & Packett received 10 Awards of Excellence, 11 Awards of Distinction and four Honorable Mentions at the Communicator Awards.

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    Free Commercial Real Estate Convention Online

    Link: REALTOR� Magazine Online -Daily News- Free Commercial Real Estate Convention Online.

    Free Commercial Real Estate Convention Online

    (May 31, 2006) —    Next week you can attend the commercial real estate industry’s first-ever online convention, hosted by the REALTORS� Commercial Alliance.

    Accessible via CommercialSource.com, the online convention is open from Tuesday, June 6, through Monday, June 12, linking the Internet’s versatility with a traditional conference’s networking opportunities. It’s free to all attendees.

    You can browse exhibitor booths, attend special events and hear an array of the industry’s top speakers — all without having to leave the office. All you need is an Internet connection.

    “The commercial real estate arena is growing dramatically, and we want to do what we can to help our members stay ahead of the curve,” says Thomas M. Stevens, president of the NATIONAL ASSOCIATION OF REALTORS�. “We are confident that CommercialSource.com will become a preferred gathering place for novice and expert commercial real estate professionals alike.”

    More than 100,000 NAR members offer commercial services, with 60,000 real estate professionals engaged full time in every aspect of the commercial real estate industry.

    Those wishing to attend the online conference can register now at CommercialSource.com. To attend, log on to the Web site anytime after 12:01 a.m. on June 6 until 12 p.m. June 12.

    The REALTORS� Commercial Alliance represents the collective commercial real estate constituencies of NAR, including its affiliated commercial organizations—the CCIM Institute, the Counselors of Real Estate, the Institute of Real Estate Management, the REALTORS� Land Institute, and the Society of Industrial and Office REALTORS�.

    — NAR

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    Company News from the RTD

    NEW BUSINESS/OPENINGS

    T. Michael Blanks Jr. has formed his own
    firm, T. Michael Blanks Jr. & Associates, specializing in divorce
    and family law, estate planning and small businesses. The office is at
    311 S. Boulevard.

    MERGERS/EXPANSIONS

    Smartbox has opened a franchise in Atlanta.

    CONTRACTS

    PJP Building Three has selected W.M. Jordan Co. to provide
    construction management for a new office building at Peter Jefferson
    Place in Charlottesville.

    Spruce Knob Seneca Rocks Telephone of Riverton, W.Va., has selected
    Mapcom Solutions’ M4 Solutions to map and manage its central office and
    outside plant.

    Vital Data LLC, Home Care Connection and Richmond.com have retained Stuart Marketing Group for marketing services.

    AWARDS

    Franklin Street Marketing received three Superior Awards and two
    Meritorious Awards at the Virginia Society for Healthcare Marketing and
    Public Relations.

    Getloaded.com received an Industry Advancement Award from the Transportation Intermediaries Association.

    This story can be found at RTD .

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    Expansion of Henrico County Enterprise Zones

    Henrico County is currently voting on the expansion of their Enterprise Zones.  These zones are areas especially designated for special programs that are designed to lure new business into the area.

    In Henrico, companies that build or renovate in
    Enterprise Zones are eligible to receive a variety of state and local
    benefits, including – among others – free architectural drawings to
    suggest exterior improvements; a seven-year tax exemption; grants
    totaling up to $30,000 or 33 percent of total renovation costs
    (whichever is less); employment and training assistance and various
    other county advice.

    Several areas within Henrico County already offer such benefits for relocating businesses and starting up new businesses.  The proposed expansions are as follows:

    • a western expansion of 131 acres along the eastern side of Staples Mill Road between Wistar Drive and Parham Road;
    • a central expansion of 563 acres along portions of Laburnum Avenue, Mechanicsville Turnpike and Nine Mile Road;
    • an
      eastern expansion of 697 acres stretching along Williamsburg Road
      (generally between Nine Mile Road and Charles City Road) and along
      Audubon Drive.

    The expansions are being voted on this week!  Keep an eye out for the results.

    Keep in mind that the City of Richmond
    and other surrounding counties also have designated Enterprise Zones,
    and so does the State of Virginia.

    For the full story, see the 5/17/06 edition of the Henrico Citizen.

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    Changes to S&P REIT Composite Index

    Taken from a newsletter from the National Association of Realtors:

    To provide a more accurate picture of the global investment landscape, Standard & Poor has changed the definations for several Global Industry Classification Standards (GICS) categories

    and implemented new categories. Changes in the Real Estate Industry
    Group include replacing the ‘Real Estate Industry’ with two new
    Industries: ‘Real Estate Investment Trusts’ and ‘Real Estate Management
    & Development.’ The new Real Estate Investment Trusts Industry will
    see the creation of seven new Sub-Industries: Diversified REITs,
    Industrial REITs, Mortgage REITs, Office REITs, Residential REITs,
    Retail REITs and Specialized REITs. The new Real Estate Management
    & Development Industry will include a Real Estate Management &
    Development Sub-Industry. Standard & Poor is a leading provider of
    independent credit ratings, indices, risk evaluation, investment
    research and data.
       
          
    Report compiled by NAR International Operations, narglobe@realtors.org.

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    Richmond is #26 of “50 Smart Places to Live”

    Link: Urban Trekker Blog.

    Good to see that Richmond is getting some recognition nationally!  Richmond ranked #26 on the list from Kiplinger’s Personal Finance of "50 Smart Places to Live".

    Metro Area Population Population growth# Median Home Price* 1-Year Home Price Change Cost-of-Living index+ Singles Young couples Families Empty nesters Retirees
    26) Richmond, Va. 1,160,347 6.0 155,450 14.1 89 x x     x

    To come up with this list of cities, we began by surveying you, our
    readers, to see what factors you consider most important when choosing
    a place to live. The top two were cost of living and cost of housing.
    Quality health care and a low crime rate were also among your top
    requirements.

    We then asked Bert Sperling, co-author of Cities Ranked & Rated
    (Wiley, $25) and host of BestPlaces.net, to design a database to take
    these factors into account. Other key criteria used were weather,
    education (primary, secondary and higher), cultural amenities and
    transportation.

    Unfortunately, no database could
    allow for another top priority: proximity to family.

    To broaden the appeal of the cities on the list, we also factored in
    economic vitality — we gave points to well-diversified economies that
    are good places to start or expand businesses. In addition, we looked
    at quality of life, which by our definition means the variety of
    cultural and recreational activities available.

    With this tentative list in hand, we sent six writers out to
    investigate the top cities, with instructions to examine in particular
    the price of housing, the character of neighborhoods and the ease of
    living. Were commutes reasonable? Did suburbs have personalities? Were
    downtowns clean, interesting and vibrant? Based on all of our findings,
    a panel of eight writers and editors ranked the cities.

    Congratulations, Richmond!

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    Welcome to Richmond!

    Welcome to RVA Business!  Here you will find information regarding commercial real estate trends and business-related information for the City of Richmond, Virginia, and the surrounding counties.  Sometimes there will be more general information and stories that will relate to Virginia as a whole, or to the market in general.

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