Surprise, Ar
izona real estate is a hot bed of activity right now thanks to a fueling of cheap houses and lots of investment opportunities. Essentially the real estate meltdown has caused a confluence of factors to be the center point of what is making this small town a real rocket for realtors all over the state. The sleepy town of Surprise experienced massive growth during the early and middle 2000’s with triple digit growth and a population count of almost 100,000. However just like any other town caught up in the real estate boom there had to be a bust and boy did it come down hard on this small suburb.
Surprise Arizona is located about 40 minutes west of Phoenix (Sky Harbor airport is the main hub) nestled by the White Tank mountain range. The small town of approximately 100,000 residents is a growing city even now in the midst of this economic meltdown. As the city continues to expand and new housing is built there is a constant flux of new residents who are moving in. The city itself boasts some impressive amenities and is truly focused for the family lifestyle that promotes a healthy community and society.
Surprise AZ real estate, while hit hard, is beginning to see the positive light when it comes to seeing a rebound in the future. While many of the bank foreclosures are being snapped up by investors, there are still many different families who are moving to the area for the many amenities the city offers. Featuring a spring training stadium for the Texas Rangers and Kansas City Royales, multiple pools and luscious parks, the city really offers some great options for families.
While no one can be pinpointed for the exact reason that Surprise AZ real estate essentially disintegrated you can at least attribute the mess to human nature and our innate desire for wealth. Whether or not this is human nature is debatable but the proof cannot be denied that greed and desire for wealth is the primary downfall of this real estate crash. Take a look around Surprise AZ and what you will see is a mish mash and hodgepodge of vacant homes and overgrown yards. Over time we will eventually see a natural organic growth that will rebuild the city.
Restaurant Entrepreneur: 3 Important Tips That Shouldn’t Be Ignored
A restaurant always sounds like a solid investment, people need to eat and love doing so. The need is constantly present and even if there were tons of other restaurants, it would not really cause one to fail, right? Wrong. In fact, restaurants are among the top entrepreneurial enterprises that have the highest failure rates. And yes even franchise restaurants, like fast food retail restaurants, do succumb to failure. And this is a sad lesson that a restaurant entrepreneur will learn if he fails to prepare his business first.
Even with these discouraging facts, a restaurant business is still a good idea, if done right. And it’s not just about serving the best dishes, it requires the perfect harmony of several factors working together to make a restaurant succeed. Here are three of these factors that you should always consider to make it as the next big restaurant entrepreneur.
The first is location. Ray Kroc believed in this so much. Think about it, McDonald’s doesn’t really have the best burgers, but they are succeeding, it’s because a franchise is never granted if there is no great location for it. The secret is having the best piece of real estate.
Although there are a few exceptions to the rule, restaurants situated out of the way will most of the time falter. These rare exemptions cater to a unique crowd that patronizes the place because they have a certain need that only it provides a solution to. But there is only so much of that crowd to reel in. So it’s really just a very microscopic percentage and that is a risk even a restaurant entrepreneur would likely ignore.
The best locations would be where there is heavy population of people. The business sector of a town is a great place and so are malls where there is already an established flow of regular traffic. These places may be more expensive but your overhead costs will be covered by the number of patrons. But make sure that you can cover your lease with your mark ups. A great location is not necessarily the best if you’re going to get way over your head, and so is a cheap one if no one comes to eat.
Next, is to develop a theme or a character for your restaurant and stick to it. This will allow you to focus on a smaller area of concern and be able to optimize your results. You have to cultivate an image where people would want to come back often with a mixture of all the right elements. Great food, amazing atmosphere, fantastic customer service, wonderful entertainment, this is everything that you will need to have and maintain as a restaurant entrepreneur.
And finally, you need to eliminate the external factors that can damper your operations, one of which is having an unreliable supplier. You can’t control this and when problems arise, your focus will be taken from running your business to complaining about the business of your suppliers. The only way to have good control of the matter is finding a good set of suppliers and building a good relationship with them.
Create Opportunities, Live Your Dream
Don’t wait for extraordinary opportunities. Seize common occasions and make them great. Weak men wait for opportunities; strong men make them. ~ Orison Swett Marden
Remember that passion you once had? A great idea or desire that has been lying dormant in your thinking. It’s time to pursue it. Learn all you can about it. Don’t wait for opportunity to find you; you need to find the opportunities in your life.
Do you want to start a business? Learn all you can about business plans, budgets, and business models for the enterprise you dream of. Watch for business opportunities in the paper – a small business being sold, perhaps. Learn how to take your talents and turn them into an entrepreneurial adventure!
Do you want to travel? Research the places you want to go, sign up for online notifications of travel bargains. Plan your trip in your mind and on paper. Just the commitment of ‘beginning’ will begin to draw what you need toward you.
Do you want to become an author, a speaker, a lawyer? What ideas, passions, and desires have you ignored – or worse, predetermined that they were impossible for you? If you can dream it, you can do it. You just have to want it badly enough, then seek the education and opportunities you need.
I once heard of someone who was in her 40’s. She had always wanted to become a doctor but never had the time or resources. As she lamented with a friend, she said, “I’m too old now. It takes ten years to become a doctor. It’s too late for me.” Her friend wisely asked her, “How old will you be in ten years? You’re going to be that age anyway, why not work at becoming what you truly want to be?”
I will be 60 this year. Little did I know at 40, or even 50, that the life experiences I’ve had would lead me to become an author “this late” in my life. But I am. And it’s fun and scary and exciting, all at the same time! And I’m continuing to learn about this new – to me – field of writing, publishing and promotion.
What do you REALLY want to do? Real estate investments, business opportunities, financial investments and life experiences abound. People that have attained financial and personal success will tell you that they look for ways to seize opportunities. They don’t wait for opportunities to come knocking on their door.
What talents, skills and life lessons have you learned that you can share with others in a more meaningful way? Are you a talented cook? Start a restaurant or catering business. Compile a recipe book. Offer to teach a cooking class for Girl Scouts, young mothers, or seniors.
Do you teach? Write a book about your classroom experiences or teaching methods. Mentor young teachers. Inspire students to share your career. Become a public speaker.
As you open yourself to the opportunities around you, don’t forget the value of networking. Share your desire with people who will encourage and help you. (It’s also a good idea to keep quiet around those who won’t support your vision.) Talk with people who are doing what you want to do. Find a mentor.
Step out, go for it! You’ll be amazed where life will lead you if you’ll just pursue the opportunities around you. In ten years … or 5 or 2, or even next year … you could be living your dream.
For daily inspiration and motivation, visit http://www.TheRuthFactor.com today. You’ll find more information on building life skills, developing better relationships, and becoming the best YOU possible. While you’re there, sign up to receive our FREE weekly ezine, “Factors for a Good Life”, in your in-box .
Ruth Seebeck has built a reputation over the last three decades as a life-skills coach, mentor, Christian counselor and friend. She is a business owner, author, volunteer and event organizer. Ruth is happily married to her best friend and soul mate of more than 30 years, Ed. Together they have a daughter, a cat and two lively Japa nese Chin pups.
105 Tips on How to Plan a Workable Restaurant Construction Budget
WHY YOU NEED A BUDGET FOR GOOD CONSTRUCTION PLANNING
- A budget is the best means for analyzing alternative courses of action, and allows you to examine these alternatives prior to adopting a particular course of action.
- It forces you to examine the facts regarding what is necessary to achieve desired profit levels.
- It provides a standard for comparison which is essential for good controls.
- It allows you to anticipate and prepare for future business conditions.
- It will help you to periodically carry out a self-evaluation of the organization and its progress toward its financial objectives.
- It provides a communication channel whereby the organization’s objectives are passed on to its various departments.
- It encourages your subordinates who have participated in the budget to establish their own operating objectives and evaluation techniques and tools.
- It provides you with reasonable estimates of future expense levels to assist in setting proper prices for your products.
THE CHARACTERISTICS OF A WELL-CONCEIVED CONSTRUCTION BUDGETING PROGRAM
- The people ultimately responsible for achieving results must be included, in the process of setting goals. These may include your consultant, architect, banker, accountant and others.
- The budget program should be based on appraisal of potential performance carefully created by those who are knowledgeable of typical foodservice performance.
- It should assign responsibility for only those costs and revenues over which an individual has a considerable degree of control.
- A construction budget should be valid over a range of activity levels rather than just one level. Variations in time required and material costs can deeply affect budget outcomes.
- It should be reviewed periodically as the project is ongoing and, if necessary, revised.
- It should be broken down into short enough time periods so that timely appraisal of progress toward goals can be made.
- Decisions regarding remedies to budget variances should be made by including “input” from the person responsible for that budget area.
- The information system should generate sufficiently accurate feedback.
- For budget purposes, costs should be categorized according to responsible individuals.
BEGIN BY DETERMINING THE FINANCIAL REQUIREMENTS
- Use a checklist for organizing your restaurant’s development. Start by getting all the facts about the location you want to purchase or lease.
- Know and calculate the costs of the exact terms
- Have expert assistance to verify your estimates.
- Calculate the cost of good-faith binders and deposits you may have to come up with before the actual deal is signed.
- When you sign, the clock starts running.
- Have a detailed budget of costs for creating your restaurant concept.
- Be sure your costs for each step are realistic not dreams.
- Know the amount of money you will need to cover each cost.
Before you can determine what you must budget to create your restaurant, you must first determine what has to be done. Following are some guidelines for planning your initial layout.
STEP BY STEP CHECK LIST OF RESTAURANT DEVELOPMENT SEQUENCES
- Site Plan
- Exterior Elevations, Four Views
- Lower Level Plan
- Upper Level Plan
- Roof Plan
- Lower Level Reflected Ceiling Plan
- Upper Level Reflected Ceiling Plan
- Building Sections
- Detail Fascia
- Stair Details
- Storefront Detail
- Interior Elevations Major Wall Areas
- Walls, floors and ceiling finishes
- Toilet Details
- Bar Plan and Detail
- Kitchen Plan and Detail
- Dining Room Plan and Detail
- Door Schedule
- Lintel Schedule
- Room Finish Schedule
- Main Kitchen Service Areas
- Floor Plan Mechanicals
- Specifications For Equipment in Kitchen.
- Specifications For Equipment in Dining Room.
- Specifications For Equipment in Bar.
- Floor Framing Plan
- Shop Drawing Reviewed From Fabricators
- Engineering Specifications
- Engineering Details
- HVAC Engineering (Heating, Ventilation, Air Conditioning)
- Plumbing
- Electrical Engineering
DEVELOP REALISTIC FINANCIAL FORECASTING
- Have a detailed Sales Projection for the first 30 days, first year, and first five years.
- Create a Proforma (a theoretic projected Profit or Loss document) which is as realistic as you can determine that applies the costs determined above with the sales that are projected.
- You may choose to make one up yourself.
- You can pay a professional to make one for you.
- Gather all data together and determine your exact capital requirements and your plan for satisfying them.
- Determine the cash you think you may require.
- How much cash do you have in your own funds?
- How much will the project require?
- How much will you need for contingencies?
- How much will you need from outside sources?
- Will you need to seek equity or investment funds?
BEGIN ACTUALLY DOING WHAT MUST BE DONE
Follow these actual steps:
- Find dependable professionals to accurately specify your equipment, furniture, fixtures and decor needs and costs.
- To efficiently build or do extensive remodeling, you will probably need an architect, a restaurant consultant and a general contractor. Try to find dependable professionals locally.
- These design and planning experts must prepare initial layouts and equipment, fixture and furnishing schedules.
- It is essential that your menu be analyzed to predetermine its gross marginal profitability. This is essential for preparing a realistic Proforma. This requires the services of a restaurant consultant.
- The planners and designers must furnish contractors bidding for your job with detailed enough drawings so that they can give realistic estimates of what all the stages of construction will cost you. You can t afford surprises that can jeopardize the grand plan.
- Pick someone, you or your agent, who is qualified to supervise the contractor doing the remodeling or construction and that there are funds budgeted to pay for this service.
- Your professionals must assist you to secure insurance and all permits and licenses required to build or remodel your premises.
- Contact your utilities representatives to develop a schedule of the utility costs for the sales you’ve projected. They should assure you of adequate power to meet your expected needs. Be prepared to pay heavy deposits for electric, phone and gas especially if you have never been in business in this area previously.
- Get realistic cost projections from you restaurant consultant for purchasing small wares, supplies. and opening stocks of food and beverages. Calculate what you’ll need up through the first month of business.
HERE IS A QUICK SUMMARY OF STEPS REQUIRED FOR YOU TO OPEN YOUR FOODSERVICE OPERATION:
- Secure the services of professionals to guide and assist you.
- Develop your menu.
- Cost out your menu.
- Set your menu pricing.
- Find a location.
- Do a sales Proforma for up to five years.
- Establish a purchasing plan.
- Specify equipment, fixtures, furnishings required.
- Complete preliminary plans and mechanical specifications.
- Get cost inputs from construction professionals.
- Develop job descriptions.
- Spell out and list personnel policies.
- Prepare staffing charts.
- Create payroll budgets.
- Develop your logo and graphics. Trademark or register them.
- Determine your printing and stationery needs and budget them.
- Determine your signage needs and budget them.
- Determine what utilities you’ll use and the annual utilities’ costs.
- Budget deposits required for real estate, phones, utilities etc.
- Determine need for a fire-safety system and budget it.
- Determine needs and budget kitchen small wares..
- Determine needs and budget dining room small wares.
- Determine needs and budget office supplies and equipment.
- 24 Determine what licenses and permits are needed and budget them.
- Determine needs and budget your basic food and beverage inventory.
- Determine needs and budget your supplies inventory.
- Complete a Feasibility Study of all costs projected to this stage.
- Create a business plan combining Proformas and feasibility studies and showing your cash flow potential for five years. Prepare copies for each source of financial assistance you plan to approach.
The above information was presented to give you as a realistic forecast of what you may face in time, money and anguish undertaking the building of a restaurant or thoroughly remodeling of an existing enterprise. My aim was not to discourage you but to make you aware of the many steps needed to achieve positive results and the difficulties you must expect to incur if you intend to forge ahead.
In the near future, detailed examples and practical suggestions will be presented in another article on how to use many the 105 tips to achieve a successful construction result.
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Visit http://surpriseazrealestate.org to get more information on Surprise AZ real estate as told through the eyes of one its residents, Nick Roberts. Surprise AZ Real Estate is one of Nick’s dedications so visit the site and grab his free report.
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